5 Mistakes Foreign Buyers Make When Purchasing Property in Greece (And How to Avoid Them)
Greece continues to attract buyers from all over the world, whether they are looking for a holiday home, a retirement property, an investment, or land on which to build their dream house.
Having advised numerous foreign clients on property transactions in Greece, I have noticed that many of the same issues arise repeatedly. Most of them can be avoided through proper legal and technical due diligence before committing to a purchase.
Below are five of the most common mistakes foreign buyers make when purchasing property in Greece.
1. Falling in Love with the Property Before Carrying Out Legal Checks
This is perhaps the most common mistake.
Buyers visit a beautiful house overlooking the sea, or a plot with stunning views, and immediately begin planning their future there. Unfortunately, enthusiasm can sometimes lead buyers to overlook important legal issues.
Before signing any agreement or paying a deposit, it is essential to verify:
- Ownership of the property
- Title history
- Existing mortgages or encumbrances
- Rights of way and easements
- Pending legal disputes
- Registration details at the Land Registry or Cadastre
A property may appear perfect, yet still contain legal issues that could create significant problems later.
2. Assuming That Everything Built on the Property Is Legal
Many foreign buyers assume that if a structure physically exists, it must have been built legally.
Unfortunately, this is not always the case.
In Greece, it is not uncommon to encounter:
- Unauthorised extensions
- Additional rooms
- Storage buildings
- Swimming pools
- Pergolas and covered areas
- Changes that do not correspond with the approved building permit
Buyers should always ensure that the property’s actual condition matches the approved plans and legal documentation.
3. Buying Land Without Proper Development Checks
Purchasing land can be particularly risky if the intention is to build.
A common misconception is that any plot of land can automatically be developed. In reality, building rights depend on a variety of factors, including:
- Planning regulations
- Zoning restrictions
- Archaeological protections
- Forestry designations
- Environmental restrictions
- Coastal and shoreline regulations
- Access requirements
The existence of neighbouring houses does not necessarily mean that a particular plot can be developed in the same way.
Comprehensive planning and technical investigations should be carried out before purchasing land.
4. Underestimating the True Cost of the Transaction
The agreed purchase price is only one part of the overall financial picture.
Foreign buyers should also budget for:
- Property transfer taxes
- Legal fees
- Notarial fees
- Land Registry or Cadastre fees
- Engineering inspections
- Survey costs
- Utility connection costs
- Future renovation or compliance works
A clear understanding of the total acquisition cost helps avoid unexpected expenses and delays.
5. Relying Solely on Informal Advice
Many buyers seek information from friends, neighbours, social media groups, online forums, or estate agents.
While such sources can be helpful, every property transaction is different.
Advice that was correct for one buyer may not apply to another property.
A purchase should be based on professional legal and technical advice tailored to the specific property and transaction.
Final Thoughts
Buying property in Greece can be an exciting and rewarding experience. However, it is important to remember that each property has its own legal, technical and practical considerations.
Carrying out thorough due diligence before committing to a purchase can save significant time, expense and stress later.
Property & Real Estate Matters
Thessaloniki, Paros and the Cyclades