Why invest in Greek property?

Greece draws buyers to its islands, its capital and its tourism economy. It also has its own purchase taxes, notarial conveyancing and fast-moving rules on short-term letting and residency. This guide sets out what applies today.

International developments are being added to PROXERA. None is listed yet, and this page does not recommend Greece or any property in it.

Foreign nationals can own land and property in Greece. UK government guidance says you will usually need a Greek tax number, the AFM, and advises contacting an English-speaking lawyer before buying.

Border areas

Transactions in designated border areas by individuals and companies from outside the EU need approval from a committee of the regional Decentralised Administration (article 26 of Law 1892/1990). The Aegean administration, for example, runs committees for the islands of the North and South Aegean. UK buyers are outside the EU, so this is an early question for your lawyer.

Owning is not residing

Buying a home does not change the visa rules. UK guidance says UK nationals moving to Greece typically need a national (Type D) visa before arrival. The golden visa, below, is a separate route.

The VAT suspension is chosen by the constructor (article 9 of Law 5000/2022), so ask a developer in writing which regime applies. Some transfers qualify for transfer tax at half or a quarter of the rate.

Example: on a €300,000 resale with a taxable value of €300,000, transfer tax is €9,000. VAT at 24% on a €300,000 net price would be €72,000. The taxable value can differ from the price. Notary, lawyer, engineer and registration fees are extra, so ask each for a written quote.

Owners and managers letting short-term must register in the Short-Term Residence Property Register kept by AADE, the tax authority (article 111 of Law 4446/2016). The unique registration number, the AMA, must accompany the listing on every digital platform.

Since 1 October 2025, Law 5170/2025 requires, according to the Ministry of Tourism, that properties:

• are main-use spaces under the New Building Regulation
• have natural light, ventilation and air conditioning
• carry civil liability insurance
• hold an electrician's declaration and a pest-control certificate

For 2025 and 2026, no new registrations are allowed in the 1st, 2nd and 3rd municipal districts of Athens. Check the position before buying for short-term letting, and test the numbers against a long-term let.

• Rent. An overseas property business is computed like a UK one but kept separate, so losses cannot cross between them. From 2027 to 2028, property income, including overseas property profits, is taxed at 22%, 42% and 47% (Finance Act 2026, sections 6 and 7).
• Holiday lets. The furnished holiday lettings regime ended from April 2025; a former EEA holiday let business is now a UK or overseas property business.
• Relief. Foreign Tax Credit Relief is claimed through Self Assessment, and may not cover all the Greek tax.
• Gains. For a house abroad, you pay tax in both countries and claim relief in the UK. In 2026 to 2027, Capital Gains Tax is 18% or 24% after the £3,000 allowance. Report through Self Assessment; the real time service cannot claim foreign tax credit relief for overseas property.
• New arrivals. The 4-year foreign income and gains regime, which replaced the remittance basis from 6 April 2025, can cover overseas property profits and foreign gains.

The UK and Greece convention

Signed on 25 June 1953 and in force from 15 January 1954, the convention has no article dedicated to rent from property. Under Article XIV, Greek tax on Greek-source income is credited against UK tax on that income. Article VII exempts a resident of one country, without a permanent establishment in the other, from the other's tax on gains from selling capital assets. How these 1953 articles apply today is a question for advisers in both countries. See UK tax on overseas property.