Real Estate in Greece
Last updated on Mar 01, 2024
Summary: An expat should begin their search for a home to buy in Greece by researching the local real estate market and familiarizing themselves with the different areas of the country. It is also important to consult with a real estate agent who is knowledgeable about the local market and can provide advice on the best areas to buy in. Foreigners are allowed to purchase property in Greece, however there are certain restrictions in place. For example, foreigners are not allowed to purchase property in border areas or on certain islands. Houses in Greece typically include amenities such as air conditioning, balconies, and terraces. Many homes also have access to a pool, garden, and other outdoor spaces.
How do I find a place to live in Greece?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One way to find a place to live in Greece is to search online for rental listings. Websites such as Nestpick, Airbnb, and HomeAway offer a variety of rental options in Greece. Additionally, you can search for local real estate agents who specialize in rentals in the area you are interested in. You can also look for classified ads in local newspapers or online forums. Finally, you can ask friends and family who live in Greece for recommendations," said one person in Greece.
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What is a typical expat home or apartment like in Greece?
"We bought a 200-year-old farmhouse in a mountain village. It is not so typical, as most expats prefer larger homes and build new. Few rent. Most come here for the long term," remarked one member in Agean Island.
"Expat homes and apartments in Greece tend to be modern and comfortable, with plenty of natural light and airy spaces. Many expats choose to live in larger cities such as Athens, where they can enjoy the convenience of city living while still being close to the stunning beaches and islands of the Mediterranean. Expat homes and apartments in Greece often feature balconies or terraces with views of the sea or the city skyline, and many come with modern amenities such as air conditioning, high-speed internet, and satellite TV," explained one expat living in Greece.
SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
Click connect to have our partner contact you via e-mail and/or phone.
SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
Click connect to have our partner contact you via e-mail and/or phone.
What is the average cost of housing in Greece?
If you are thinking about moving to Greece, cost of living in probably a key consideration. Expats commented about the cost of housing:
"Our costs are considerably lower here. I lived in Germany for 25 years after leaving the States, but before moving here, and our monthly utility costs run less than half of what we paid there. Houses here run from U.S. $15,500 (for slightly falling apart) upwards and you can spend as much as you like if you decide to build a villa," said one person in Agean Island.
"As mentioned, you can find relatively cheap properties that need a great deal of refurbishment which can end up costing more than a move in ready house," said one expat who made the move to Greece.
"The cost of housing in Greece varies depending on the location and type of property. Generally, the cost of renting an apartment in Greece is relatively affordable compared to other European countries, with prices ranging from around €400 to €1,000 per month. Buying a property in Greece can be more expensive, with prices ranging from €50,000 to €500,000 depending on the size and location," explained one foreigner living in Greece.
Should I buy or rent a home in Greece?
If you have not spent a lot of time in Greece, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Ended up building our own house as one was not available where we wanted to be. Another story... quite a challenge, but it was nice to have exactly the building we wanted," explained one expat living in Paros, Greece.
"Buying a home in Greece can be a great investment, as the country has a strong economy and a desirable climate. However, it is important to consider the cost of living in Greece, as well as the cost of purchasing a home. Renting a home in Greece can be a more affordable option, as it allows you to enjoy the benefits of living in Greece without the long-term commitment of buying a home. Additionally, renting a home in Greece can provide more flexibility, as you can move to a different area or even a different country if desired. Ultimately, the decision to buy or rent a home in Greece should be based on your individual needs and financial situation," said one person in Greece.
What do I need to know when buying property in Greece?
When we asked expats what advice they would give a foreigner before buying a property in Greece, they said:
"1. It is important to research the local market and understand the current trends in the area before making a purchase. 2. It is important to understand the legal requirements for purchasing property in Greece, including any taxes or fees that may be applicable. 3. It is important to ensure that the property is in good condition and that all necessary paperwork is in order before making a purchase. 4. It is important to understand the local zoning laws and regulations that may affect the use of the property. 5. It is important to understand the local customs and culture when purchasing property in Greece. 6. It is important to understand the local infrastructure and services available in the area. 7. It is important to understand the local banking and financing options available for purchasing property in Greece. 8. It is important to understand the local rental market and potential rental income that may be generated from the property," explained one person living in Greece.
Are foreigners allowed to own property in Greece?
When we asked expats what advice they would give a foreigner before buying a property in Greece, they said...
"Yes, foreigners are allowed to own property in Greece. Non-EU citizens are required to obtain a residence permit in order to purchase property in Greece. EU citizens are allowed to purchase property without a residence permit. However, they must register with the local tax office and obtain a tax identification number. Additionally, foreign buyers must obtain a permit from the Ministry of Defense if the property is located in a military zone," wrote one expat who made the move to Greece.
What appliances are typically included in a rental?
We asked foreigners in Greece what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Rental properties in Greece typically include a refrigerator, stove, oven, and washing machine. Some properties may also include a dishwasher, microwave, and air conditioning unit. Furniture is usually not included in the rental, but some landlords may provide basic furnishings such as a bed, sofa, and dining table," said one expat in Greece.
Additional Information about Searching for a Home in Greece:
We asked foreigners in Greece what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats can search for homes in Greece by looking online for real estate listings, contacting local real estate agents, and networking with other expats who may have knowledge of the local housing market. Additionally, expats can look for rental listings in newspapers, online classifieds, and other local publications. It is also possible to find housing through word of mouth, by asking friends and family who may have connections in the area," explained one person living in Greece.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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