Selling Property in Greece as a Foreign Investor: Complete Guide

Greece has experienced a sustained period of foreign property investment since the depths of its financial crisis, driven by the Golden Visa programme, strong tourism rental yields, and improving economic fundamentals. For investors who purchased between 2012 and 2022, many are now sitting on substantial capital appreciation. Understanding the exit process — including the favourable capital gains tax position for most sellers, the notary-based transfer system, and the implications for any Golden Visa held — is essential before proceeding.

The Legal Framework for Property Sales in Greece

All property transfers in Greece are completed through a notarial deed (συμβόλαιο αγοράς — symvolaio agoras). The transfer must be registered in the National Cadastre (Εθνικό Κτηματολόγιο) or, in areas not yet fully cadastral, in the Land Registry (Υποθηκοφυλακείο). Both parties (or their authorised representatives via notarised power of attorney) must appear before the notary for the deed to be executed.

Foreign investors must hold a Greek Tax Identification Number (AFM — Αριθμός Φορολογικού Μητρώου) to sell property. You should have obtained one at the time of purchase. If not, apply through the Greek tax authority (AADE) or through a Greek tax representative.

Step-by-Step Selling Process

Step 1: Appoint a Greek Lawyer and Tax Adviser

Appoint a Greek civil lawyer (δικηγόρος — dikigoros) experienced in property transactions. Your lawyer will:

• Conduct title searches at the Cadastre or Land Registry (verifying no mortgages, disputes, or encumbrances)
• Obtain necessary certificates (no debts to local municipality, no outstanding property taxes, building legality certificate)
• Liaise with the notary
• Advise on your Greek tax obligations as a non-resident seller
• Represent you under a power of attorney if you cannot attend in person

A Greek tax adviser (φοροτεχνικός — forotechnikos) may be needed separately if your tax affairs are complex.

Step 2: Obtain Required Certificates

Before a notarial deed can be executed, the seller must provide:

• ENFIA certificate: Annual property tax (ENFIA) must be fully paid. Your lawyer will obtain a certificate from the Greek tax authority confirming no ENFIA arrears.
• Building legality certificate (τεχνικός έλεγχος): Certifying that the property matches the planning permission and has no unauthorised additions. Many Greek properties have unauthorised extensions ("arbitrary additions") — regularising these (through the urban planning amnesty scheme) may be required before sale or should be disclosed to the buyer.
• Energy Performance Certificate (ΠΕΑ): Mandatory for all sales.
• Certificate from the municipality (δημοτική ενημερότητα): Confirming no outstanding municipal taxes.

These certificates take one to four weeks to obtain. Plan ahead.

Step 3: Instruct an Estate Agent

Greece's property agent market is regulated under Law 4072/2012, requiring agents to hold a professional licence. In practice, compliance is mixed. Use established agencies with verifiable track records.

Commission is typically 2%–3% of the sale price, and is usually paid by the seller. In some tourist market areas (Mykonos, Santorini, Athens city centre), agents may charge both buyer and seller — confirm in writing.

Step 4: Sign the Preliminary Agreement (Προσύμφωνο)

Once a buyer is found and a price agreed, a preliminary agreement (prosymfono) is usually signed before a notary, with a deposit of 10%–20%. This is a binding commitment. If the buyer withdraws, the seller keeps the deposit. If the seller withdraws, they typically must return double the deposit.

Step 5: Final Notarial Deed

Completion takes place before a notary. Both seller and buyer sign the deed. Required documents from the seller include all the certificates obtained above plus:

• Passport (or ID) and AFM number
• Title deed from original purchase
• Building legality certificate

Transfer taxes are paid on or before the signing. Once signed, the notary registers the deed at the Cadastre — this confirms the buyer's ownership. Registration typically takes one to four weeks post-signing.

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Capital Gains Tax on Greek Property: The Key Facts

The Temporary CGT Exemption

Greece introduced a capital gains tax on property transfers in 2013 at 15% of the gain. However, the implementation of this CGT has been suspended repeatedly by successive Greek governments. As of June 2026, the suspension remains in place — meaning no CGT applies to property sales in Greece for individuals.

This is a major advantage for sellers. The Greek government has extended the suspension each year as a measure to stimulate the property market and the construction sector.

Important caveat: this suspension could end at any point. There is no guarantee the exemption will continue beyond the current period. Tax rules change, and sellers planning disposals should check the current position with a Greek tax adviser before proceeding, as the political and fiscal environment can shift.

If CGT Were to Apply

If the CGT suspension is lifted before you complete your sale, the applicable rate would be 15% of the gain (calculated as net sale price minus acquisition cost, adjusted for inflation). Non-residents would be treated the same as residents under this calculation.

Transfer Tax Paid by the Buyer

The transfer tax in Greece (FMA — Φόρος Μεταβίβασης Ακινήτου) is 3.09% of the higher of the objective value or the agreed sale price. This is paid by the buyer before the notarial deed is executed. It is not the seller's cost — but as with all buyer transaction costs, it affects the buyer's total budget and may influence the negotiated price.

For new build properties (first sale from a developer issued after 2006 with a building permit from 2006+), the transfer tax is replaced by VAT at 24%. This applies to the buyer.

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Withholding Tax

There is no withholding tax mechanism applied to the seller in Greek property transactions (other than through the standard transfer process). The buyer pays their taxes in advance; the seller's only income tax obligation is the CGT (currently suspended).

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ENFIA (Annual Property Tax)

ENFIA must be fully cleared before a sale can complete. If you have outstanding ENFIA from previous years, these arrears will appear on the tax authority's certificate and must be paid. ENFIA is calculated based on the objective value (αντικειμενική αξία) of the property — rates vary significantly by area and property type.

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Golden Visa: Critical Implications for Sellers

If you hold a Greek Golden Visa based on your property investment, selling the property immediately terminates your Golden Visa eligibility. You must maintain the qualifying investment throughout the residency period. However:

• If you have already obtained permanent residency or Greek citizenship, the investment requirement is no longer an ongoing obligation (check the specific rules applying to your visa year with an immigration lawyer)
• If you are between residency renewals, selling before renewal will prevent the renewal from proceeding

Before listing a Golden Visa qualifying property, consult an immigration lawyer about the implications for your residency status.

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Discharging a Mortgage

If you have a Greek bank mortgage, the outstanding balance must be discharged before or at completion. Your lawyer will:

1. Obtain a bank certificate of outstanding balance
2. Coordinate the timing so that the mortgage is cleared from sale proceeds at the notary
3. Obtain a discharge deed (εξόφληση υποθήκης) from the bank
4. Register the mortgage discharge at the Land Registry or Cadastre

Greek bank mortgages for foreign buyers have historically been difficult to obtain. Many foreign purchasers used cash or home-country mortgage facilities (remortgaging their primary residence). If your Greek mortgage is with a foreign bank, additional steps may be needed to discharge the charge from the Greek title.

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Repatriation of Proceeds and Currency Considerations

Greece is a eurozone country and there are no capital controls on EU/EEA residents. However, following the 2015 capital controls crisis (during which withdrawals were limited to €60/day), Greek banks have implemented stricter internal monitoring of large transfers. In practice, outward international transfers are straightforward for well-documented property sale proceeds.

Practical steps:

• Ensure proceeds are received into your Greek bank account
• Provide the bank with the notarial deed and completion statement as documentation
• For amounts over €10,000, your bank will file a standard cross-border transaction report (routine under EU AML requirements — not a restriction)
• SWIFT transfer to your overseas account — typically two to three business days

Currency: the Euro is a stable major currency. For non-eurozone sellers (UK, Switzerland, non-EU countries), conversion from EUR to your home currency at a competitive rate is achievable through specialist FX brokers. EUR/GBP in particular has been range-bound in recent years — consider a forward contract if you want certainty before completion.

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Timing Strategies to Minimise Tax

1. Sell while the CGT suspension remains in place. Under the current framework, you pay no CGT on any gain. Selling in a period when the suspension is active — and before any potential policy change — is the single most important tax planning step for Greek property.
2. Sell in a high-season market. Athens, Mykonos, Santorini, and Thessaloniki see their most active buyer inquiries from April to September. Listing in early spring maximises exposure to the peak season.
3. Clear ENFIA arrears early. Late ENFIA payments attract penalties of up to 100% of the original tax. Clear all arrears before engaging an agent — the certificate will be needed for completion.
4. Consider joint ownership. If you purchased solely but the property has appreciated significantly, structuring a future purchase jointly (or gifting a share to a family member) could split any future gain when CGT does return, though advice is needed on the gift tax implications.

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Common Pitfalls for Foreign Sellers

Arbitrary construction. Greece has a significant legacy of unauthorised building additions (αυθαίρετα). If your property has unauthorised works, a building legality certificate cannot be issued and the sale cannot complete. The government's "legalisation" scheme (τακτοποίηση) allows regularisation on payment of a fine, but the process takes time and should be initiated as soon as you decide to sell.

Missing or incorrect title deeds. Title in Greece can be complex — properties may have multiple heirs, old deeds pre-dating the Cadastre, or conflicting registrations. Your lawyer must conduct a thorough title search going back a minimum of 20 years.

Language barrier at the notary. All notarial deeds are in Greek. If you do not speak Greek, an interpreter must be present at the signing (often the notary's assistant). Ensure you understand what you are signing.

Power of attorney complexity. If you cannot attend in person, a notarised POA must be granted to a Greek representative. This must be legalised (apostille or consular legalisation for non-Hague Convention countries). Plan for two to four weeks.

CGT suspension assumption. Do not assume the suspension will be in place at the moment you complete. Check immediately before exchange with your Greek tax adviser.

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Cost Summary: Selling in Greece as a Foreign Investor

Item	As % of Sale Price
Estate agent commission	2.0%–3.0%
Capital gains tax (currently suspended)	0% (suspended)
Legal fees (seller's side)	0.5%–1.5%
Notary fees (seller's share)	~0.2%–0.5%
Building legality certificate (if needed)	€300–€2,000 (fixed)
ENFIA arrears clearance	Variable
Mortgage discharge (if applicable)	Bank fee + registration ~€500–€2,000
FX conversion	~0.2%–0.5%
Total transaction costs (excl. CGT)	~3%–6%

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How Global Investments Can Help

Greece offers one of the most favourable exit environments of any international market — provided sellers act before the CGT suspension lapses. Global Investments can:

• Introduce you to verified Greek property lawyers and notaries
• Help you assess current CGT risk and whether to expedite your sale
• Advise on Golden Visa residency implications of the disposal
• Connect you with specialist FX brokers for EUR proceeds conversion
• Help you identify qualified international buyers, including those interested in inheriting the Golden Visa threshold
• Guide reinvestment of proceeds into other markets — Cyprus, UAE, or Spain — as part of a broader portfolio strategy

Tax rules change and the information in this guide reflects our understanding of Greek law as of June 2026. The CGT suspension has been renewed repeatedly but can end at any time. Always seek independent Greek legal and tax advice before proceeding with a property sale.