Buying property in Greece continues to attract international buyers and investors seeking both lifestyle benefits and strong ROI. Despite this growing interest, many misconceptions about the local market persist. Below, we debunk the most common myths and explain the facts every foreign buyer should know.
Myth 1: Foreigners Cannot Buy Property in Greece
In reality, foreigners can buy property in Greece with minimal restrictions. Both EU and non-EU citizens are free to invest in Greek real estate in most regions. Only specific border areas require additional administrative approval, which is a standard procedure when working with a professional real estate agency.
Myth 2: The Buying Process Is Complicated and Unsafe
Many believe that the property buying process in Greece is a legal minefield. In fact, Greece has a clear legal framework that protects the buyer. With the support of a qualified lawyer and a notary, the process is secure, transparent, and well-structured.
Myth 3: Property Taxes Are Prohibitively High
Another misconception is that property taxes in Greece are excessively high. While there is a transfer tax, the annual property ownership tax (ENFIA) is relatively low compared to many other European countries, making long-term ownership cost-effective.
Myth 4: Real Estate Is Only for Holiday Use
Many assume Greece is only suitable for vacation homes. However, the market offers strong opportunities for year-round real estate investment, including long-term rentals in student hubs like Thessaloniki or business districts in Athens.
Market Comparison: Myths vs. Reality
| Topic | Common Myth | Actual Reality |
|---|---|---|
| Ownership | Only for EU citizens | Open to almost all nationalities |
| Security | High risk of fraud | Strict notary-led legal protection |
| Golden Visa | No residency benefits | Residency for investment from €250k–€800k |
| Taxes | Extremely high annual fees | ENFIA rates are highly competitive in EU |
Myth 5: No Residency Benefits for Buyers
One of the most significant misconceptions is that purchasing property provides no residency advantages. In reality, non-EU investors may qualify for the Greek Golden Visa program. This allows investors and their families to obtain residency permits, offering visa-free travel within the Schengen Area.
Myth 6: Professional Support Is Optional
Some buyers believe they can handle the purchase independently to save costs. However, navigating legal procedures and Golden Visa requirements without expert guidance often leads to delays. A trusted real estate agent ensures a smooth, compliant, and optimized transaction.
Conclusion
Buying property in Greece is far more accessible than many believe. By understanding the facts and working with experienced professionals, foreign buyers can confidently invest in the Greek market, securing both a Mediterranean lifestyle and a stable financial asset.
