Buying property – particularly if you are a foreigner – can be a rather complicated process. However, by understanding the process and the various requirements and regulations, you can successfully acquire property in Greece.
There are several web pages that can help you through the process. Among them are:
Property Greece
Property Abroad
Ktimatoemporiki real estate
Notar (In Norwegian only)
Among the requirements is that the agreement between the two parties (seller and buyer) is entered and signed before a Notary Public - a public officer constituted by law. When the value of the property exceeds certain amounts, the contract should be signed in the presence of an appointed attorney.
You also have to open a Greek bank account and get a Tax Registry Number (AFM).
Always remember that an attorney will be able to guide you through the entire process of acquiring property.
You also need to be aware of the tax rules when acquiring property in Greece.
As for foreign ownership, it should be noted that foreign citizens and foreign legal entities are forbidden to acquire property in areas near the borders of the Greek State, which (areas) have been strictly defined by Law 1892/90. The said restriction is more flexible for citizens or legal entities of EU members. In the last case, following an application by the interesting party to the prefecture where the property is located, the administration may authorize the acquisition.
Norwegian citizens are treated the same way as EU citizens on this matter, especially when wishing to buy property in “border zones”. In case problems are encountered, please contact the Embassy.
The above text is merely a short summary pointing out the basic issues of the Greek Property Law with respect to acquiring property. It should not be regarded as legal advice. Prior to any property acquisition, please seek the professional guidance of an attorney.