Greece has been attracting foreign property buyers for decades — and for good reason. The climate, the coastline, the culture, and an increasingly favourable property market make it one of Europe's most compelling places to invest. In Loutraki and the wider Corinthia region, we work with foreign buyers regularly — and the same questions come up every time. This guide covers the process plainly, from start to finish, so you know exactly what to expect.
Before you start: the two essentials
Before you can buy property in Greece, you need two things regardless of your nationality:
- A Greek tax number (AFM / ΑΦΜ) — obtained from any Greek tax office (AADE) or via a registered accountant. This is required for everything: signing contracts, paying transfer tax, opening a bank account.
- A Greek bank account — required for the final transfer of funds. EU buyers can use any Greek bank. Non-EU buyers may need additional documentation, but it is always achievable with proper guidance.
Both take a few days to arrange. Your agent or lawyer can guide you through these steps or handle them on your behalf.
The buying process, step by step
Find your property and agree a price
Once you've found a property and verbally agreed a price with the seller, the next step is to appoint a Greek lawyer. This is not legally required but is strongly recommended — your lawyer performs title searches, checks for debts or encumbrances on the property, and verifies planning compliance.
Pay a reservation deposit
A small deposit (typically €1,000–€5,000) is paid to reserve the property and take it off the market while due diligence is carried out. This is held by the agency or lawyer and is refundable if legal issues are discovered.
Sign a preliminary agreement (Προσύμφωνο)
Once due diligence is clear, a preliminary purchase agreement is signed by both parties. At this stage you typically pay 10% of the purchase price as a deposit. If you pull out, you lose the deposit. If the seller pulls out, they must return double.
Complete at the notary
The final contract (Συμβόλαιο) is signed at a Greek notary, in the presence of both parties and their lawyers. The notary prepares the deed, verifies all documents, and oversees the transfer. The remaining purchase price is paid at this stage. The deed is then registered at the Land Registry.
What does it cost to buy?
Beyond the purchase price, budget for the following additional costs:
- Property transfer tax: 3.09% of the purchase price (paid by the buyer, before signing)
- Notary fees: 1–1.5% of the purchase price
- Lawyer fees: 1–1.5% (recommended, not compulsory)
- Land Registry fee: approx. 0.5%
- Estate agent fee: typically 2% (varies by agreement)
In total, buyers should budget approximately 7–8% of the purchase price for all transaction costs combined (including transfer tax). There are no hidden extras beyond this — Greece is relatively straightforward compared to some European markets.
The Golden Visa programme
Greece's Golden Visa offers a five-year renewable residency permit to non-EU buyers who purchase property worth at least €400,000 (the threshold is €800,000 in certain high-demand zones such as central Athens, Thessaloniki, Mykonos and Santorini — verify the current rules as these have been updated in recent years). The permit covers the buyer and their immediate family, allows visa-free travel within the Schengen zone, and does not require you to live in Greece. It has been one of the most popular investor visa programmes in Europe.
Loutraki currently falls within the €400,000 threshold zone, making it a viable entry point for Golden Visa buyers seeking a coastal location outside the premium-zone surcharge.
A note for non-EU buyers
Citizens of non-EU countries can buy property in Greece freely in most areas. Border zone properties (certain islands and regions near national borders) require additional permits, but this does not apply to Loutraki or the Corinthia coast. Your lawyer will confirm this for any specific property.
What we tell every buyer
Get a lawyer. Not because the process is risky — it generally isn't — but because a good Greek property lawyer costs relatively little and removes any uncertainty. They will check that the title is clean, that the property matches what is on the deed, that there are no outstanding debts attached to it, and that all permits are in order. It is the single best money you will spend in the whole transaction.
If you are buying in Loutraki or anywhere in the Corinthia region and would like a trusted lawyer recommendation, contact us and we will point you in the right direction.