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Greece

As a member state of the EU, Greece offers its residents and citizens a number of reassuring benefits including high levels of safety and security, excellent education opportunities, robust healthcare options, and a dependable rule of law.


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Country Information 

Greece’s warm Mediterranean climate, desirable lifestyle, and cosmopolitan cities, coupled with the country’s strong industries, have led many wealthy individuals and families to make this country their second home.

Population:

10.5 million

Languages:

Greek

Economy:

Service- and industrial-based

Currency:

Euro





Living in Greece


Situated at the junction of Europe, Asia, and Africa, Greece is regarded as the cradle of democracy and the birthplace of western civilization. The country’s history dates back to 800 BCE and has significantly influenced the language, arts, philosophy, politics, and physical pursuits of the modern world. Remnants of Greece’s illustrious past can still be seen in its capital city Athens, which still retains the city’s ancient landmarks.


Consisting of a mainland on the Balkan peninsula and thousands of islands spread throughout the Aegean and Ionian seas, Greece has become a major European business center and is regarded as one of the world’s top holiday destinations.


Greece’s warm Mediterranean climate, world-renowned gastronomy, and cosmopolitan cities, coupled with the country's exquisite beaches and authentic local traditions and hospitality, have led many upwardly mobile individuals to make this country their second home.


As a member state of the EU, Greece offers its residents and citizens a number of reassuring benefits including high levels of safety and security, excellent education opportunities, robust healthcare options, and a dependable rule of law.

























Key advantages of the Greece Golden Visa Program


  • Visa-free travel within Europe’s Schengen Area
  • No requirement to reside in Greece
  • Unlimited expiry date of residence permit
  • Opportunity to rent out the investment property
  • Residence applicable to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse)
  • Eligibility to apply for citizenship after seven years of residence
  • Ability to hold shares and receive income from the dividends of a company registered in Greece (but not to be employed in Greece)

Requirements of the Greece Golden Visa Program

The Greece Golden Visa Program is a residence by investment program launched in 2013 that enables non-EU nationals and their family members to obtain permanent residence permits in Greece. The residence permits may be renewed every five years.


The program’s qualifying options are:

  • Real estate investment in one of the following investment zones:
    • EUR 250,000: Specialized real estate investment allocated towards the conversion of commercial properties into residential use or the restoration of listed buildings, regardless of location or size
    • EUR 400,000: For the purchase of properties in Greece, the investment must be made in a single property with a minimum size of 120 sqm
    • EUR 800,000: For the purchase of properties in Athens, Thessaloniki, and islands with more than 3,100 inhabitants
  • Alternatively, select one of the following qualifying options:
    • A 10-year time-sharing or lease agreement for hotel accommodation or furnished tourist residences with a value of at least EUR 400,000 or EUR 800,000, depending on the threshold zone
    • A fixed-term deposit of at least EUR 500,000 with a Greek credit institution
    • A capital contribution of at least EUR 500,000 in a public limited real estate investment company that invests exclusively in Greece, increasing its share capital; or in a closed-end investment company or mutual fund; or in a Greek-based company for share capital increase or bonds issued for trading on regulated Greek markets or multilateral trading facilities
    • Purchase of Greek government bonds worth at least EUR 500,000 with a remaining maturity of at least three years, through a Greek credit institution
    • Purchase of shares, corporate bonds, or Greek government bonds traded on regulated Greek markets or multilateral trading facilities, with an acquisition value of at least EUR 800,000
    • Purchase of shares or stocks with an acquisition value of at least EUR 350,000 in a mutual fund exclusively investing in shares, corporate bonds, or Greek government bonds traded on regulated markets or multilateral trading facilities in Greece, or in an alternative investment fund established in Greece or another EU member state, solely dedicated to investing in Greece

Procedures for Greece Golden Visa Program

Step 1: Visit Greece
Step 2: Choose the preferred property
Step 3: Submission of the application

Step 4: Final verification

Greece Real Estate

Everything you need to know about acquiring premium real estate in Greece and linked to the Greece Golden Visa Program.



Minimum real estate investment

USD 250,000

Type of​ ownership

Sole or shared ownership

Rental income opportunity

2.5–4.5% on residential property 5–7% on commercial property

Holding period of real estate

Necessary to maintain and renew residence permit

Greece real estate


The Greek real estate market was growing steadily for almost a decade before the global financial crisis of 2008–2009 triggered a sharp decline around the world. Although recovery was slower in Greece than in stronger economies, buying property in the country is still regarded as a safe, almost-risk free investment. Today, after 15 years of trending downwards, the country’s property market is once again attracting foreign buyers.

Between 2022 and 2024, Athens’ real estate market experienced significant growth. In 2022, property prices in Athens surged by 13% year-on-year, while apartment prices across Greece rose by 11.2%. This upward trend persisted in 2023, with residential property prices in Greece increasing by 13.8%, followed by an additional 10.4% rise in the first quarter of 2024. This represents a sharp recovery from the 44% decline experienced since 2008, reflecting sustained growth fueled by foreign investment, tourism, and the country’s economic resilience (Property Guides, Bank of Greece, GrecEstate).


Over the past few years, the real estate market has been thriving, thanks mainly to investments related to a booming tourism industry; tourist arrivals increased from 15 million in 2009 to 35 million in 2018. Given the attractive Greece Golden Visa Program and the popularity of Greece as a holiday destination, demand for holiday homes is rising, especially on the popular Greek islands.



Are there any restrictions on the acquisition of real estate in Greece by foreign buyers?

Some restrictions apply to non-EU nationals seeking to acquire real estate in border areas (Article 24, Law 1892/1990) such as the eastern Aegean, the Dodecanese, Thrace, and other regions of northern Greece. Restrictions may be lifted upon special request with an indication of the property’s intended use. A license to acquire such property is granted by the Ministry of National Defence following a request submitted to the relevant committee of the decentralized administration in that region.

How can immovable property in Greece be acquired?

After obtaining a tax identification number and opening a bank account, the buyer must conduct a land registry search to ensure that the chosen property is free of encumbrances. Once cleared, the transfer tax is paid, and the final contract is signed by the buyer and the seller before a notary. The contract of sale is registered at the local land registry as the absolute proof of ownership. Within three months, the property must be registered with the tax authorities. The process can be handled by proxies.

Does the applicant need to open a bank account in order to purchase property, and if so, what is the procedure?

The opening of a bank account is not a prerequisite; however, it facilitates the transaction and tax procedures related to the ownership of a property. A bank account can be opened in person or via power of attorney. The applicant must also provide a list of required documents (such as proof of tax residence, proof of address, and source of funds).

What additional expenses will the real estate transaction incur?

Buyers are required to pay a 4% title deed fee, along with a circulation capital fee based on the property’s value. The value cannot be less than the value in the appraisal report, which shows the actual value of the property. The revolving capital fee is determined as compensation for the services provided during title deed transactions and must be paid during processes such as the sale or transfer of the property. It typically ranges from approximately 10,000 to 15,000 Turkish Lira and is subject to change.

What kind of returns can be expected from property investment in Greece?

Properties are reasonably easy to let. An owner’s annual return from the lease, after expenses and taxes, is estimated at around 4–5%. In central Athens, the gross rental yield on apartments is about 4.49%, while outside the city center, it is about 4.05%.


How is rental income taxed?

Greece has a progressive taxation system. The income tax on rental income is 15% per annum for the first EUR 12,000, 35% between EUR 12,000 and EUR 35,000, and 45% thereafter.


What other immovable property-related taxes and charges are imposed in Greece?

All property owners in Greece (including those who invest in real estate to acquire a Greek residence permit) are liable to pay tax on immovable property in Greece or the income that may arise from such property, regardless of their domicile or residence. Uniform real estate property tax (ENFIA) is calculated based on the location, price zone, surface, floor, year built, and other similar factors. It is approximately EUR 5–10 per m2 annually (roughly calculated as 0.2% of the taxable property value), depending on the tax value of the property.


What additional expenses will the real estate transaction incur?

In addition to the actual cost of the property, some other expenses will be incurred, most of which are based on the ‘assessed tax value’ of the property.

Notary fees: 1.5–2% + VAT of the property value

Land registry fees: 0.5–0.7% of the property value

Transfer tax: 3.09% of the property value, payable to the revenue service

Real estate agency fees (where applicable): 2% + VAT of the purchase price

Travel and accommodation expenses for due diligence on properties outside Athens EUR 350–500


Türkiye Citizenship by Investment Program frequently asked questions

The Türkiye Citizenship by Investment Program offers citizenship to individuals and their families through substantial investments in Türkiye.

Investment options include acquiring real estate, investing in fixed capital contributions, depositing funds into a Turkish bank account, committing to government bonds, investing in a real estate or venture capital fund, contributing to a private pension system with a minimum holding period of three years, or creating jobs for at least 50 people as verified by the Ministry of Family, Labour and Social Services.

Benefits include visa-free travel to many countries, the right to live, work, and study in Türkiye, and access to a strategic location bridging Europe and Asia.

The minimum investment starts at USD 400,000 for real estate purchases.

Processing times for citizenship by investment applications may vary. Please contact us to find out more.


Yes, the main applicant can include their spouse and dependent children in their application.

There are no specific residence requirements, but applicants must maintain their investment for a minimum of three years.

Required documents include a valid passport, proof of investment or contribution, a clean criminal record, and other supporting documents.

Applicants must choose a qualifying investment, submit the application with the necessary documents, and undergo a due diligence process.