Property Purchase Process in Greece: Step by Step

Purchasing property in Greece represents an important investment, both for Greek nationals and for foreign buyers. The process is characterized by legal precision, notarial supervision, and specific tax and banking steps. Below is a detailed presentation of the main stages:

1. Issuance of Power of Attorney
   The first step involves drafting a general Power of Attorney by a Greek or foreign notary, through which the buyer authorizes their lawyer to act on their behalf.
   If the Power of Attorney is signed abroad, it must bear the Apostille stamp.
2. Legal Due Diligence of the Property
   The buyer’s lawyer carries out a full legal check of the property. This includes:

• Legal Due Diligence on the Property at the Land Registry or Mortgage Office.
• Verification of any encumbrances (such as mortgages, seizures, or legal claims)

3. Obtaining a Greek Tax Identification Number (greek AFM) and Opening a Bank Account
   The appointed lawyer proceeds with the issuance of a Tax Identification Number (Greek AFM) for the buyer through the Greek tax authorities. At the same time, and in collaboration with the buyer, a bank account can be opened in a Greek bank if the buyer wishes. The physical presence of the buyer is mandatory for the opening of the account. If the buyer does not wish to open a Greek bank account, the payment for the property purchase can be made via a bank account maintained abroad.
4. Collection of Necessary Documents
   The seller then gathers all the documents required for the signing of the final purchase contract. These documents are checked by the buyer’s lawyer, and if no legal obstacles are identified, the parties proceed with the signing of the final purchase contract.
5. Payment of Property Transfer Tax
   The appointed lawyer proceeds with the completion and submission of the property transfer tax declaration to the competent Tax Office.
   The transfer tax amounts to 3,09% of the objective (official) or the agreed value of the property—whichever is higher.
6. Signing of the Purchase Contract
   The final act is signed in the presence of the notary, the lawyer, and the seller.
   The payment of the purchase price is made via bank transfer from the buyer’s account to the seller’s account. The payment is certified with an official proof of deposit. The contract is then registered at the Land Registry, and the transfer of ownership is completed.

The buyer receives a complete file of documents, which includes:

• The purchase contract
• The building permit
• The Energy Performance Certificate
• The property floor plans
• The topographical diagram

Obligations of the New Owner

After the completion of the purchase, the new owner is required to:

• Register the property with the Land Registry (Cadastre)
• Declare the property in the E9 form (through the Taxisnet system)
• Ensure the payment of the annual property tax (ENFIA)

Collaboration with experienced professionals—notary, lawyer, and real estate agent—ensures the smooth completion of the process and prevents potential future legal or financial issues.

Our team is here to guide you step by step with complete transparency, so that you can enjoy only positive feelings throughout the entire experience.

Best regards,
Veroniki Tsakalidou
Lawyer of Ellas Estate DS Group