Can Americans Buy Property in Greece?

Border areas require a special permit for foreign property purchases. This includes the Dodecanese Islands (Rhodes, Kos, Patmos), some northeast Aegean islands, and the Thrace region along the Turkish border. Greek national security concerns drive this - these are strategically sensitive locations. Getting the permit isn't impossible, just adds bureaucratic layers and time.

Everywhere else? Zero restrictions. Athens, Thessaloniki, Crete, Corfu, the Cyclades (Mykonos, Santorini), the Peloponnese, mainland Greece - buy whatever you want. Same property rights as Greek citizens.

Here's what you need: an AFM, which is Greece's tax identification number. Similar to Italy's Codice Fiscale. Required for any legal transaction. Get one at the local tax office or through your lawyer before the purchase.

A Greek bank account simplifies everything - notary payments, property taxes, utility transfers, rental income deposits. Alpha Bank and Eurobank both work with foreign clients.

The buying process is straightforward. Make an offer. If accepted, sign a preliminary agreement (you should have a lawyer by now). Due diligence period: your lawyer verifies title, checks for debts, confirms building legality. Final signing at a notary, payment made, keys received. Total timeline: 6-12 weeks typically.

Costs are refreshingly low compared to Western Europe. Transfer tax runs 3%. Notary fees are 1-1.5%. Legal runs 1-2%. Agent commission (if you use one) is 2-3%. Total closing costs: 8-10%.