Buying Property in Greece as a Foreigner: The Naxos Guide
Buying property in Greece as a foreigner is straightforward: there are no nationality restrictions, and thousands of international buyers complete purchases every year. What you need is a Greek tax number, a good lawyer, and a clear picture of the costs. This guide covers the process step by step, with a focus on Naxos, where our team at Vernikos Constructions builds and sells homes directly to international buyers.
Who can buy property in Greece
Citizens of any country can buy and fully own property in Greece, with the same legal protections as Greek residents. EU citizens have the simplest path. Non EU buyers, including British and American citizens, follow the same purchase process but need a few extra documents, starting with the Greek tax identification number known as the AFM. In a handful of border regions special permits apply, but the Cyclades and Naxos are not among them.
The buying process, step by step
First, you obtain an AFM from the Greek tax office, something your lawyer can arrange with a power of attorney, often without you traveling to Greece. Second, your lawyer runs a title search at the land registry, checking for debts, disputes and building permit compliance. Third, a public notary drafts and oversees the purchase contract, calculates the taxes and registers the deed. With a clean file, the whole process typically takes 4 to 8 weeks. When you buy directly from the builder, as with our properties, titles and permits come fully documented, which is usually the fastest route.
What it costs beyond the purchase price
Budget roughly 5 to 6 percent on top of the price: property transfer tax of 3 percent on the higher of the contract or state assessed value, plus legal, notary and land registry fees of around 2 to 3 percent. Ongoing ownership carries the annual ENFIA property tax, which for a typical island home is modest. There are no restrictions on transferring funds from abroad, though your Greek bank will ask you to document the source.
Residency and the Golden Visa
Owning property does not by itself grant residency. Without a permit, non EU citizens can stay up to 90 days in any 180 day period under Schengen rules. Greece’s Golden Visa program offers a 5 year renewable residence permit for property investments. The thresholds are 800,000 euros in high demand areas such as Athens, Mykonos and Santorini, and 400,000 euros in most other regions. Naxos currently sits in the 400,000 euro tier, which makes it one of the most accessible Cycladic islands for buyers who also want residency.
Why Naxos
Naxos offers the Cycladic landscape and architecture that draws buyers to Santorini and Mykonos, at considerably more accessible prices and with a real, year round community. The island has the largest agricultural production in the Cyclades, excellent beaches on its west coast, and a growing but still limited supply of quality new homes, which supports long term values. Browse our current properties for sale in Naxos, including cave houses and modern Cycladic villas, all built by our own team.
Frequently asked questions
Can a British person buy a house in Greece?
Yes. Brexit did not remove the right to buy. British citizens purchase as non EU buyers: they need an AFM and follow the standard process, and Schengen day limits apply to stays unless they obtain a residence permit.
How long can I stay in Greece if I own a property?
Ownership does not extend visa rights. Non EU owners can stay 90 days in any 180 day period, or apply for a residence permit such as the Golden Visa for longer stays.
Is it hard for foreigners to buy property in Greece?
No, but preparation matters. With an AFM, a local lawyer and a property with clean titles, the process is predictable. Complications usually come from inherited rural properties with unclear titles, which is why buying a new build from the constructor is the simplest route.
What are the downsides of buying property in Greece?
Bureaucracy can be slow if the property’s paperwork is not in order, and older buildings may carry planning irregularities that must be settled before transfer. Annual ENFIA tax and, for some islands, seasonal infrastructure are also worth weighing. A thorough legal check addresses most risks up front.