Buying Property in Greece as a Greek Living Abroad

Who this guide is for

• Greek citizens living overseas
• Permanent residents of another country who hold Greek citizenship
• Greeks considering returning to Greece
• Greeks purchasing a holiday home
• Greeks investing in residential property
• First-time buyers purchasing property in Greece

Key takeaways

• Greek citizens living abroad can purchase property in Greece.
• Many banks may lend up to 80% of the property value, subject to their lending criteria.
• If the property will be your first home in Greece and you meet the relevant eligibility requirements, higher lending limits may be available.
• You will generally need a Greek Tax Identification Number (AFM).
• You will usually require a Greek bank account to complete the transaction.
• Working with professionals familiar with international buyers can make the process much smoother.

Why are more Greeks abroad buying property?

Many Greeks living overseas are reconnecting with Greece by purchasing property for:

• Holiday homes
• Retirement planning
• Investment opportunities
• Family accommodation
• Future relocation
• Long-term wealth creation

With improved digital services and the ability to complete much of the process remotely, buying property from overseas has become more accessible than ever.

Can Greeks living abroad get a mortgage in Greece?

Yes. Many Greek banks offer home loans to Greek citizens who are tax residents of another country.

The exact lending criteria differ between banks, but lenders commonly assess:

• Citizenship and residency status
• Country of tax residence
• Employment stability
• Income
• Existing financial commitments
• Credit history
• Deposit available
• Type of property being purchased

Every application is assessed individually, so eligibility can vary depending on your circumstances.

How much can I borrow?

The amount you can borrow depends on several factors, including:

• Your income
• Existing debts
• Employment type
• Country of residence
• Property value
• The individual bank lending policy

In many cases, Greek citizens living abroad may be eligible to borrow up to 80% of the property value, although each lender applies its own assessment criteria.

If you are purchasing your first home in Greece and meet the applicable requirements, some lenders may offer higher loan-to-value ratios.

What costs should I budget for?

Buying property involves more than just the purchase price. You should also allow for:

• Transfer taxes (where applicable)
• Legal fees
• Notary fees
• Land Registry costs
• Property valuation fees
• Bank application costs (if applicable)
• Insurance requirements
• Professional advisory services

Having a clear understanding of these costs before making an offer can help avoid unexpected expenses later in the process.

Documents you may need

Although requirements vary between banks, you will commonly be asked to provide:

• Passport or Greek identification
• Proof of overseas address
• Proof of income
• Employment confirmation
• Recent payslips
• Tax returns
• Bank statements
• Evidence of savings
• Details of existing loans or liabilities

Some documents may need to be translated or certified depending on the lender requirements.

Do I need an AFM?

Yes. An AFM (Greek Tax Identification Number) is required for almost every property purchase in Greece. If you do not already have one, it can usually be arranged before you begin the buying process.

Do I need a Greek bank account?

In most cases, yes. A Greek bank account is typically required for:

• Paying deposits
• Completing settlement
• Paying taxes and government charges
• Setting up utility payments
• Managing future property-related expenses

Opening an account while living overseas can sometimes be completed remotely, depending on the bank and your circumstances.

Can I buy property without travelling to Greece?

Yes. Many overseas buyers complete most of the purchasing process remotely by granting a trusted lawyer or representative a Power of Attorney (POA). This allows documents to be signed and various legal and administrative steps to be completed on your behalf.

The suitability of this approach depends on your individual circumstances and should be discussed with your legal adviser.

Step-by-step buying process

The typical buying journey includes:

1. Determine your budget.
2. Understand your borrowing capacity.
3. Obtain an AFM.
4. Open a Greek bank account.
5. Find a suitable property.
6. Engage a lawyer.
7. Apply for finance (if required).
8. Complete legal due diligence.
9. Sign contracts.
10. Settle the purchase.
11. Register ownership.
12. Arrange utilities and ongoing property management if required.

Common mistakes to avoid

Many buyers encounter delays because they:

• Underestimate the total purchase costs.
• Begin searching before confirming their borrowing capacity.
• Delay obtaining an AFM.
• Assume every bank has the same lending criteria.
• Submit incomplete documentation.
• Fail to obtain independent legal advice.

Preparing properly before making an offer can significantly reduce delays.

Frequently asked questions

Need personalised guidance?

Buying property in Greece from overseas involves coordinating banks, lawyers, accountants and government authorities, often across different time zones.

At GreekHomeLoans, we help Greeks living abroad understand their finance options, prepare for the buying process and connect with trusted professionals throughout their property journey. Whether you are purchasing your first home, a holiday property or an investment, we are here to help you make informed decisions with confidence.