Buying Property in Greece From Australia

23 Oct

Updated October 2026

I get asked about this more than almost anything else. Can you buy property in Greece from Australia, is it a nightmare, is it as cheap as it looks online. I'm Greek-Australian, I've got family over there, and I still wouldn't back myself to buy a flat without someone who does it for a living standing next to me. So I asked Stefan Tsilimos, a Greek-Australian and former Sydney agent who now runs a buyer's agency, CS Group Realty, in Thessaloniki, to walk me through the whole thing, start to finish.

The first thing he told me is that most Australians assume it's either dead easy or impossible. It's neither. Foreigners can buy almost anywhere, there are no auctions, and in plenty of areas the prices still make the Adelaide market look unhinged. But it works differently to home in ways that catch people out, and one of those differences is about to cost non-EU buyers a lot more.

The short version. You can buy property in Greece on an Australian passport, no special permit, in most of the country. You'll need a Greek tax number (an AFM) and a Greek bank account before you buy, and you should budget 8 to 10 percent on top of the price for tax and fees. Start to keys is usually three to six months. The one thing to watch is timing, because a new 15 percent transfer tax (the tax you pay when ownership changes hands) for non-EU buyers has been announced for July 2027.

The tax change coming in 2027

Stefan's first bit of advice was about timing, so we'll start where he did. Transfer tax is the one-off tax you pay the Greek government when a property changes hands, a bit like stamp duty here. Right now it's about 3 percent of the taxable value (3.09 percent with a small municipal levy on top). The government has announced that from 1 July 2027, that rate climbs to 15 percent for buyers from outside the EU. On a €300,000 apartment, that's the difference between roughly €9,000 and about €46,000. Same flat, same keys, forty-odd grand more.

Two things he wanted me to flag. It's an announcement, not law yet, so no bill has been published, the start date could still shift, and the detail isn't settled. And it's aimed at non-EU buyers, with a carve-out signalled for people of Greek descent living abroad (the omogeneís), though how you'll prove that descent is still being worked out. If you hold Greek or other EU citizenship, or you can claim it through a parent or grandparent, and a lot of us can, his advice was blunt. Sort it before you buy.

Cycladic Spaces tip: if citizenship is even a maybe for you, start the paperwork now. It moves at Greek speed, and July 2027 is closer than it looks.

Get your paperwork sorted first

Stefan's rule is to get the admin done before you fall in love with anything. Good properties don't wait around while you catch up.

You'll need an AFM, a Greek tax number (think of it as a TFN for Greece) issued by AADE, Greece's tax office. A Greek lawyer can get one for you remotely under a power of attorney, which is a signed document letting them act on your behalf, usually within a few days. You'll also need a Greek bank account, because the purchase has to go through by bank transfer, not straight from your account here. That takes two to four weeks, quicker if you can walk into a branch. Most of it can start on the Greek government's own portal, gov.gr, though Stefan says nearly all his Aussie clients just hand it to the lawyer.

The bit people forget is moving the money across. A currency broker will usually beat your bank's exchange rate, and on a six-figure transfer that's thousands of dollars, not loose change.

Can Australians get a Greek mortgage?

The thing people get wrong, Stefan told me, is assuming they can borrow the way they do at home. They can't. He's helping an overseas investor at the moment, someone who earns in a foreign currency and had his eye on a rental flat in Thessaloniki. At one of the big Greek banks, a non-Greek citizen can borrow up to 65 percent of the value over 15 years. A Greek citizen can borrow up to 80 percent over 30. That one gap changed the client's deposit completely.

The second catch is currency risk. Pay off a euro loan with Australian-dollar income and every swing in the exchange rate changes what the repayment costs you. His advice came back to citizenship again. If you can claim it, it's worth more than a nicer kitchen.

Why finding a property is harder than it looks

This is where I learned something. There's no single, trusted listing system in Greece. The same apartment turns up on Spitogatos or XE (the two big portals) three times, three prices, three agents. And a lot of the good stuff never gets listed at all, it moves through word of mouth and local agents who know who's thinking of selling before they tell anyone.

Every property also carries an objective value, a government-set valuation used for tax. It matters because transfer tax is charged on whichever is higher, the price you agree or that objective value. So you want both numbers in front of you before you make an offer, not after.

The checks that matter most

This, Stefan says, is the step foreign buyers skip, and it's the one that costs them.

Illegal building work is common in Greece. An enclosed balcony, an extra room, a whole flat added on the roof. It isn't always dodgy, but it has to be legalised before a sale can go through, and the person who confirms that what's standing matches the permits is an engineer. Separately, your own lawyer (yours, never the seller's) checks the title, any debts or mortgages on the place, inheritance tangles, and that it's correctly logged on the Cadastre, Greece's national land registry.

The one he watches for every time is a property owned by several heirs. One cousin dragging their feet can hold up a sale for months.

Photos are their own trap. One of his buyers wanted a quiet village house in northern Greece, 20 minutes from the beach, ready to live in, around €115,000. He'd found one online for €79,000 that looked like a steal. Stefan asked the agent a few direct questions and it turned out to be a shell inside, four walls and little else. So instead of flying over to walk through a dozen dead ends, the buyer is coming in January to see four or five Stefan has already checked remotely for condition, heating, water, legality and what's next door. Anything near a quarry, a wind farm or a main road got ruled out before a flight was booked. If the price looks too good, there's a reason.

Making an offer and signing

Treat the asking price as a starting point. Negotiating is expected here, and nobody thinks less of you for it.

If the checks need more time, buyer and seller often sign a preliminary contract with a deposit, usually about 10 percent, to hold the deal. The final contract is signed in front of a notary, a state-appointed lawyer whose job is to make the sale official. And this is the part I liked for anyone stuck in Australia: your lawyer can sign for you under that power of attorney, so you don't have to be there on the day. Once it's registered with the Cadastre, it's yours.

What it all costs

At today's rate, Stefan says to budget 8 to 10 percent on top of the price for the one-off costs. Where it goes.

What you'll pay on top of the price

Transfer tax, 3.09 percent. The big one, at least until the 2027 change above.
Notary, around 1 percent plus VAT. For making the contract official.
Your lawyer, roughly 0.5 to 1 percent plus VAT. For the checks and the signing.
Cadastre registration, around 0.5 percent. To register you as the owner.
Agent commission, often 2 percent plus VAT. Where it's charged to the buyer.
Engineer's inspection, usually a few hundred euros. A flat fee, not a percentage.

Then the ongoing bits. ENFIA is the annual property tax every Greek owner pays (it's a Greek acronym, don't bother memorising it, just budget for it). And if you're an Australian tax resident, rental income from your Greek place has to be declared back home too. The ATO treats foreign rental income like any other, so loop your accountant in early rather than at tax time.

A realistic timeline for buying property in Greece

Stefan's rule of thumb for an organised buyer is three to six months from first chat to keys.

A few days for the AFM.
Two to four weeks for the bank account.
One to three months to find and check the right place.
Four to eight weeks from accepted offer to settlement.

Done in that order, with someone checking things on your side of the table, buying in Greece from Australia is far less scary than it sounds. The trick is the order, and starting the slow parts early.

If you want that someone on your side, Stefan runs CS Group Realty, a Thessaloniki buyer's agency that represents buyers only, finding, checking and buying across Greece for Australians. You can reach him at csgrouprealty.gr or csgroupgr@gmail.com. He's also happy to take reader questions, so if there's something you want answered, send it in.

Frequently asked questions

Can Australians buy property in Greece?

Yes. Australians can buy property almost anywhere in Greece with no special permit. A handful of border and island areas need a simple permit for non-EU buyers, which a lawyer handles. You'll need a Greek tax number (an AFM) and a Greek bank account before you buy.

Do I need to be in Greece to buy?

No. You can do the whole thing from Australia. A Greek lawyer acting under a power of attorney can get your tax number, help open a bank account, run the checks and even sign the final contract in front of the notary on your behalf. Plenty of buyers never set foot in the country until they collect the keys.

How much are the extra costs on top of the price?

At today's rates, budget 8 to 10 percent on top of the purchase price. That covers transfer tax of about 3.09 percent, the notary, your lawyer, Cadastre registration, agent commission where it applies, and a few hundred euros for an engineer's inspection. After settlement you pay ENFIA, the annual property tax.

Is the 15 percent transfer tax definite?

Not yet. The Greek government has announced a rise from about 3 percent to 15 percent for non-EU buyers from 1 July 2027, but no law has been passed, so the date and the detail could still change. A carve-out for people of Greek descent living abroad has been signalled, with the exact rules to be confirmed.

Can I get a mortgage in Greece as a non-resident?

Yes, Greek banks lend to non-residents, but on tighter terms. At one major bank a non-Greek citizen can borrow up to 65 percent of the value over 15 years, against 80 percent over 30 years for a Greek citizen. If you earn in Australian dollars, factor in currency risk on a euro loan. Sort out your borrowing before you start looking.

How long does buying property in Greece take?

For an organised buyer, three to six months from first conversation to keys. The tax number takes a few days, the bank account two to four weeks, finding and checking the right property one to three months, and settlement four to eight weeks after an accepted offer. Starting the slow steps early is what keeps it on track.