Selling Property in Greece: Exit Strategies and Tax Implications for Foreign Investors
Greece has attracted significant international property investment since the introduction of the Golden Visa programme in 2013 and a sustained recovery in market values following the economic crisis years. For investors considering an exit, the news is broadly favourable: capital gains tax on property sales has been suspended since 2014, the transfer tax falls on buyers rather than sellers, and the eurozone framework means no currency controls on repatriation.
This guide walks through the complete selling process, the costs you will face, implications for Golden Visa holders, and practical considerations for a smooth and efficient exit.
The Greek Property Market Context
Greek residential property values, particularly in Athens, Thessaloniki, and popular island destinations (Mykonos, Santorini, Crete, Corfu), recovered strongly through the 2019–2025 period driven by Golden Visa investment, short-let platform demand (Airbnb), and renewed interest from Northern European buyers. Liquidity varies considerably: central Athens and luxury island properties tend to sell relatively quickly; rural and off-the-beaten-track properties may take much longer to find a qualified buyer.
As of 2026, Golden Visa threshold increases (the minimum qualifying investment was raised in stages, reaching €800,000 in prime Athens and island markets from 2024) have reduced the volume of low-entry investor purchases but have supported prices in premium segments.
Capital Gains Tax: Suspended Since 2014
Greece levied a 15% CGT on property sale gains until 2014, when the government suspended the tax as part of efforts to stimulate the property market. As of June 2026, the suspension remains in effect — sellers do not pay Greek CGT on the gain from a property sale.
This is a significant advantage. An investor who purchased an Athens apartment for €200,000 and sells for €320,000 retains the full €120,000 gain (minus transaction costs) without any Greek tax on the uplift.
However, CGT reintroduction has been discussed in various Greek budget debates over the years. It is prudent to:
- Verify the current suspension status with a Greek tax adviser before committing to a sale timeline.
- Remain aware that your home country may tax the gain even if Greece does not — UK residents, for example, remain subject to UK CGT on worldwide gains.
What the Seller Does Pay
Although the CGT suspension is favourable, sellers do incur costs:
| Cost | Approximate Amount | Who Pays |
|---|---|---|
| Estate agent commission | 2–4% of sale price | Seller |
| Notary fees (seller's share) | ~0.5–1% of sale price | Seller (varies by notary) |
| Legal / conveyancing | €1,500–€3,500 | Seller |
| ENFIA arrears clearance | Depends on arrears | Seller |
| Energy performance certificate (EPC) | €150–€300 | Seller |
| Topographic survey (if required) | €400–€800 | Seller |
| Transfer tax (3.09%) | 3.09% of objective value | Buyer |
ENFIA: Property Tax Arrears
ENFIA (Ενιαίος Φόρος Ιδιοκτησίας Ακινήτων) is the annual Greek property ownership tax. Before a sale can complete, ENFIA clearance must be confirmed — the seller must provide a certificate (φορολογική ενημερότητα) showing no outstanding property tax obligations. Ensure all annual ENFIA payments are fully up to date before instructing an agent.
Energy Performance Certificate
As in most EU countries, a valid EPC is required before marketing and must be included in the sale documentation. Certificates are valid for ten years; if yours has expired or you do not have one, commission an inspection from a licensed energy assessor.
The Selling Process
1. Obtain Your AFM (Greek Tax Number)
Both buyer and seller must hold an Arithmos Forologikou Mitroou (AFM) — the Greek tax registration number. If you purchased the property as a foreign investor, you will already have one. If you have lost it or it has become inactive, contact the Greek tax office or instruct your Greek lawyer to reinstate it.
2. Instruct a Lawyer
Greek property transactions require a notary, but the notary acts as a neutral state official rather than your legal representative. Instruct a separate Greek property lawyer (δικηγόρος) to act for you. Your lawyer will:
- Verify title at the Land Registry (Κτηματολόγιο / Υποθηκοφυλακείο) and check for encumbrances, mortgages, or liens.
- Obtain the e-certificate from the Cadaster confirming clean title.
- Confirm ENFIA clearance and tax compliance certificates.
- Draft the preliminary contract (προσύμφωνο) if used.
- Attend the notarial completion with you.
3. Preliminary Contract (Optional but Common)
In many Greek sales, buyer and seller sign a προσύμφωνο (preliminary agreement) before the notarial deed. This is legally binding; the buyer typically pays 10% deposit. If the seller defaults, they must return double the deposit; if the buyer defaults, the deposit is forfeit.
4. Notarial Completion
The final sale deed (συμβόλαιο αγοραπωλησίας) is executed before the notary. Both parties or their POA-authorised lawyers must be present. The notary reads the deed, verifies identity and tax compliance certificates, and oversees the exchange of funds. The deed is then registered at the Land Registry.
Greek notaries are thorough — expect the process to take several hours at the notary's office. Allow two to four months from initial agreement to completion, accounting for title searches, mortgage clearances, and the notary scheduling.
Golden Visa Implications
If you acquired your Greek property in order to qualify for the Greek Golden Visa (residence permit), selling the property will affect your visa status:
- Active visa period: You retain your current visa until its expiry date even after the sale.
- Renewal: You cannot renew the Golden Visa once the qualifying investment has been disposed of, unless you replace it with another qualifying investment of at least the current threshold value.
- Permanent residency / citizenship path: These processes require maintaining the investment. Selling before satisfying the timeline conditions for permanent residency or naturalisation may reset or interrupt the clock.
If the Golden Visa was your primary motivation for the purchase, plan your exit carefully in conjunction with your immigration lawyer to ensure you do not inadvertently lose residency rights at a critical moment.
Mortgage Discharge
If the property carries a Greek mortgage (hypothiki), the bank must confirm the outstanding balance and the mortgage must be discharged (released) at or before the notarial completion. The notary cannot complete the transfer while a mortgage is registered against the title. Your lawyer should contact the bank at least four to six weeks before the planned completion date to obtain a settlement figure and discharge documentation.
Repatriating Proceeds
Greece is part of the eurozone and the EU's free movement of capital framework. There are no restrictions on repatriating EUR proceeds from a Greek property sale. Your Greek bank will process the outbound wire transfer subject to standard AML documentation (copy of the sale deed, evidence of the transaction). Large sums (typically above €100,000) may attract enhanced documentation requests under Greek AML compliance rules, but this is an administrative step rather than a restriction.
Keep copies of the notarial sale deed permanently — this is the definitive evidence of the sale price for any home-country tax authority that queries your capital gain.
Timing Considerations
| Factor | Consideration |
|---|---|
| CGT suspension | Monitor for any reintroduction; currently no time-based threshold |
| Golden Visa renewal date | Plan exit to avoid visa gap if residency is important |
| Tourist season (islands) | Island properties attract more buyers during spring/summer viewing season |
| Rental income | If the property is an Airbnb-style short let, consider whether an in-season sale or off-season sale achieves better price |
| Currency | EUR/GBP and EUR/USD rates affect net return for non-eurozone investors |
Important: The CGT suspension in Greece has been in place since 2014 but is not guaranteed to continue. This guide reflects the law as of June 2026; always verify the current CGT status with a qualified Greek tax adviser before finalising your sale. Property values can fall as well as rise, and Golden Visa investment requirements have been subject to frequent threshold increases. Past returns are not a guide to future performance.
How Global Investments Can Help
Global Investments has over 32 years of experience in international property markets, including Greece. We can introduce you to reputable Greek property lawyers, advise on the timing of your exit relative to Golden Visa renewal dates, and help you navigate the notarial process efficiently.
If you are looking to reinvest proceeds into another European or international market after your Greek exit, we can help you identify and access opportunities in the other seven markets we cover.
Related guides:
- Buying Property in Greece: A Guide for Foreign Investors
- Greece Property Tax Guide for Overseas Investors
- Best Areas to Buy in Greece
- Greece Rental Yields and Investment Returns
Contact our property team to discuss your Greek exit strategy: contact us.
Frequently asked questions
Is there capital gains tax on selling property in Greece?
Greece suspended its 15% CGT on property sales in 2014. As of June 2026, this suspension remains in place, meaning sellers currently pay no CGT on the gain. However, CGT reintroduction has been discussed periodically — always verify the current position with a Greek tax adviser before completing a sale.
Who pays the 3.09% transfer tax in Greece?
The transfer tax (Φόρος Μεταβίβασης Ακινήτων) of approximately 3.09% is paid by the buyer, not the seller. It applies to resale (second-hand) properties; new builds from developers are subject to VAT instead.
What does the selling process involve in Greece?
A Greek property sale requires a notary, clear title (confirmed by the Land Registry or Cadaster), settlement of any outstanding ENFIA property taxes, and legal due diligence. Both buyer and seller must hold a Greek Tax Registration Number (AFM). Completion typically takes two to four months.
What are the implications for my Greek Golden Visa if I sell?
If your property was the basis for a Greek Golden Visa, selling it terminates the investment requirement. Your visa will not be renewed after sale unless you make a qualifying replacement investment. You may retain residency rights for the current visa period, but permanent residency or citizenship applications based on the investment would be affected.
Can I repatriate the proceeds from a Greek property sale without restriction?
Greece is part of the eurozone and EU, and there are no capital controls specific to property sales proceeds. EU citizens can remit freely. Non-EU investors may face standard bank AML documentation requirements but no specific restrictions on transferring EUR abroad.
This guide is for general information only and does not constitute financial, legal or tax advice. Programme rules, prices and tax rates change; verify current requirements with a qualified adviser before acting.