Compare the full costs, condition and timing of each property before choosing.

A newly built apartment with contemporary finishes or an established home in a neighbourhood you already love? Buyers in Greece often face this choice, and neither option is automatically better. The right property depends on your budget, preferred location, moving date and willingness to take on renovation work.

Here is how to compare new builds and resale properties before making a decision.

What counts as a new development or resale property?

A new development is a recently constructed property, sometimes offered while construction is still underway. A resale property has had a previous owner and may be ready to view and occupy. Its condition can range from fully renovated to in need of substantial work.

The distinction matters because the asking price is only part of the decision. You also need to consider the property’s condition, ongoing costs, purchase taxes and when you can move in.

New developments in Greece: potential advantages

Contemporary design and specifications

New homes are often planned around current expectations for layouts, insulation, glazing and building systems. Some builds also offer parking, storage, lifts or shared outdoor space. Check the specifications of the particular property: features vary from project to project.

Less immediate renovation planning

With a completed new home, you may avoid replacing an older kitchen, updating bathrooms or arranging major repairs soon after purchase. That does not mean every finish or appliance is included. Ask for a written list of what the price covers.

A choice of homes within one project

If you enquire early enough, a development may offer different floors, layouts or orientations. If the home is under construction, you may have to wait for completion. Review the proposed handover date, payment stages and contract terms carefully.

Grekodom’s Bomo Elionis Residence in Thermi illustrates the project-specific details worth comparing. Its listing describes apartment layouts, a courtyard and playground, underground parking and energy-conscious building features. Verify the specifications and availability of any individual home before making a decision.

Resale properties in Greece: potential advantages

Established locations

If you have a particular street, historic centre or mature neighbourhood in mind, a resale home may give you more options. You can visit the actual property and get a clearer feel for its light, surroundings and condition.

A potentially sooner move

A vacant resale property may suit buyers who want to move on a shorter timetable, subject to legal checks and completion of the sale. With an unfinished development, your plans depend on the construction schedule.

Scope to renovate

An older property may appeal if you want to shape a home to your taste. Build a realistic budget first. A lower asking price can lose its appeal if essential repairs, energy upgrades and the time required exceed what you expected.

Compare the total cost, not just the asking price

For either type, allow for purchase taxes, professional fees, registration costs and future ownership expenses. For a resale home, add a technical inspection and a realistic estimate for repairs or renovation. For a new development, check whether parking, storage, appliances, finishes and optional upgrades are included.

Tax treatment deserves a property-specific check. Greece’s Ministry of Economy and Finance states that property transfer tax is generally 3% of the taxable value. Certain new-property transactions would ordinarily fall under VAT instead. Under the current VAT rules for immovable property, a developer can request a suspension through 31 December 2026, in which case transfer tax applies. Ask a qualified professional to confirm the position for your particular transaction.

Before paying a deposit, use this legal checklist for buying property in Greece to understand which documents and checks to discuss with your advisers. 

Questions to ask before you buy

• What is included in the price, and what costs extra?

• What is the property’s energy performance and likely maintenance requirement?

• Have its title, permits and building documentation been checked?

• For a resale home, what repairs are needed and what will they cost?

• For an unfinished home, what are the payment stages, completion terms and handover arrangements?

• What taxes and other purchase costs apply to this transaction?

Which should you choose?

A new development may suit you if modern specifications, planned amenities and limited immediate renovation work are high priorities, and the location, price and completion timetable fit your plans.

A resale property may suit you if a particular established location, a home you can inspect as it stands or the opportunity to renovate matters more to you.

The strongest choice is the property that works for your life and your full budget. Compare individual homes on their merits, obtain independent legal and technical advice, and understand every cost before committing.

Looking for property in Greece? Explore Grekodom’s properties or contact the team to discuss the location, property type and budget you have in mind.

Editorial note: Tax information checked 28 September 2026. Review it again before publication if the article is scheduled for a later date.

Frequently asked questions

Is a new development always more energy efficient than a resale home?

No. A new home may have modern insulation and systems, while a renovated resale home may also perform well. Ask for the energy performance certificate and compare the actual building features.

Is a resale property always cheaper?

No. Asking prices vary by location, size and condition. Renovation and maintenance can change the total cost considerably. Compare purchase and ownership costs for specific properties.

Do all new homes in Greece pay VAT?

No. The tax position depends on the transaction and whether the developer has obtained the applicable VAT suspension. The current suspension can apply through 31 December 2026. Confirm the treatment with your lawyer or tax adviser before committing.