Buying Greek Property for STR as a Foreigner 2026: συμβολαιογράφος, Transfer Tax, KEK

Buying Greek Property for STR as a Foreigner 2026: συμβολαιογράφος, Transfer Tax, KEK

You decided to add a Greek STR to your portfolio. Maybe a 2-bed apartment in Athens for steady year-round bookings, a Mykonos villa for premium summer income or a Crete townhouse with the long shoulder season. Buying property in Greece as a UK or US foreigner is straightforward in principle (no nationality restrictions outside narrow border zones that no longer matter for UK or US passport holders since 2014) but unforgiving in practice. Three Greek institutions decide whether your purchase closes cleanly: the συμβολαιογράφος (Greek notary) who drafts and witnesses the deed, the ΑΑΔΕ that collects μεταβίβαση (transfer) tax of 3.09 percent, and the Κτηματολόγιο that issues the KEK (cadastral certificate). Get any of these wrong and your STR plans stall for months. This guide walks through the process from offer to listing-ready ΑΜΑ.

Before you sign anything in Greece, set up two foundations: ΑΦΜ (Greek tax ID) for yourself and a Greek lawyer (δικηγόρος) separate from the seller's lawyer. Greek practice differs from UK conveyancing in that the συμβολαιογράφος is impartial and works for the transaction, not for either party. Your own lawyer is essential to negotiate, due-diligence and protect your interests. Budget 1.0% to 1.5% of purchase price for legal fees plus VAT, with a minimum of 1,500 EUR for purchases below 100,000 EUR.

The συμβολαιογράφος: Greek Notary Role

συμβολαιογράφος (notary) is a state-appointed legal professional whose role combines drafting, witnessing and submitting the deed to the cadastre and tax authorities. Unlike UK conveyancers, the συμβολαιογράφος does not represent the buyer or the seller; they are a public officer ensuring legality of form. They draft the συμβόλαιο (deed), verify identities, collect tax stamps, witness signatures, register the deed with the Κτηματολόγιο (cadastre) within 30 days, and forward the transaction data to ΑΑΔΕ for tax record updates.

The συμβολαιογράφος is selected by the buyer (Greek custom). Fees follow the official tariff: 0.65% to 1.20% of purchase price plus 24% ΦΠΑ (VAT), with a minimum 800 EUR for low-value transactions. For a 250,000 EUR Athens apartment, expect 2,200 to 3,800 EUR συμβολαιογράφος fees inclusive of ΦΠΑ. Your lawyer attends the signing to translate clauses if you do not speak fluent Greek.

μεταβίβαση Transfer Tax 3.09 percent

The standard Greek property transfer tax (φόρος μεταβίβασης ακινήτων) is 3% of the higher of the contract price or the αντικειμενική αξία (objective value fixed by ΑΑΔΕ). Add a 3% municipal surcharge on the transfer tax itself (so the effective rate is 3 plus 0.09 equals 3.09%) and the math is straightforward.

For a 250,000 EUR Athens apartment with a 200,000 EUR objective value, the transfer tax is 3.09% of 250,000 (the higher) equals 7,725 EUR. The συμβολαιογράφος collects this at signing and forwards to ΑΑΔΕ. Failure to pay blocks the cadastral registration and the συμβολαιογράφος refuses to complete. Foreign buyers should wire transfer tax funds to the συμβολαιογράφος client account 5 working days before signing to allow for international bank settlement.

ΦΠΑ on New Builds: 24 percent VAT Trap

If the property is a newly built dwelling sold by a developer for the first time after the building permit was issued post-2006, the transaction is subject to ΦΠΑ (24% VAT) instead of the 3.09% transfer tax. ΦΠΑ on new builds is suspended through 31 December 2026 under the 2019 Greek government measure (renewed by Νόμος 5170/2025), so currently new builds also pay the 3.09% transfer tax.

Watch the suspension expiry. If you sign a contract on 2 January 2027 for a developer-sold flat with permit issued 2020, you may face 24% ΦΠΑ on the first sale. On a 250,000 EUR new build that flips the cost from 7,725 EUR (transfer) to 60,000 EUR (ΦΠΑ). Always check the permit date and the suspension status with your Greek lawyer before exchanging contracts on a new-build.

KEK Cadastral Certificate Due Diligence

KEK (Κτηματολογικό Πιστοποιητικό, cadastral certificate) is a 5-page report from the Κτηματολόγιο (Greek cadastre) describing the property's exact boundaries, surface area, ownership history and any registered liens, easements or third-party rights. KEK is mandatory before signing in any cadastrated zone (which now covers nearly the whole country following the 2018-2024 cadastre completion). Cost: 30 to 80 EUR. Issued by the local Κτηματολογικό Γραφείο, online via gov.gr if you have ΑΦΜ plus AKE digital signature.

Your lawyer reads the KEK to verify: the seller is the registered owner of the exact dwelling you intend to buy (sounds obvious but in Greek apartment blocks the millesimal share allocations often mismatch the marketing brochure), the surface area matches the building permit, no undisclosed mortgages or liens encumber the title, no neighbour easements (passage rights, light easements, party-wall agreements) limit your STR plans. Discrepancies between KEK and reality are common in pre-1980 buildings and require correction before sale.

Title Insurance for Foreign Buyers

Greek title insurance is uncommon (the cadastre system is meant to obviate the need) but available through Lloyds of London brokers and First American Title for foreign buyers seeking belt-and-braces protection. Cost: 0.20% to 0.50% of purchase value as a one-time premium, covers up to 100% of value against fraudulent title, undisclosed liens and boundary disputes for up to 25 years.

Title insurance is particularly valuable on Mykonos and Santorini where the cadastre completed late (2022-2023) and where pre-cadastre titles often had ambiguities (oral inheritance, unregistered transfers between siblings, agricultural-to-residential reclassifications). On a 600,000 EUR Mykonos villa, a 0.30% one-time premium of 1,800 EUR buys 25 years of cover against ownership challenges.

Total Transaction Costs Summary

Cost	EUR	Notes
Transfer tax (3.09 percent)	7,725	On 250,000 EUR resale
συμβολαιογράφος fees with VAT	2,800	0.95 percent average plus 24 percent ΦΠΑ
Lawyer fees with VAT	3,400	1.10 percent average plus 24 percent ΦΠΑ
Cadastre registration fees	475	0.475 percent of contract value
KEK certificate	50	One-time, online
Title insurance (optional)	750	0.30 percent for resale
Greek translator (if non-Greek speaker)	200	Half-day at signing
Total transaction overhead	15,400	Approximately 6.2 percent of resale price

For new-builds with VAT suspension expired the overhead jumps to approximately 28% of price. This is why almost all foreign buyers target resale property under the current suspension regime.

Frequently Asked Questions

Can I buy property in Greece without flying there?

Yes. The συμβολαιογράφος accepts a remote signing via Power of Attorney (πληρεξούσιο) executed at a Greek consulate in London, NYC or Dublin (cost 200 to 400 EUR). The PoA appoints your Greek lawyer to sign the deed on your behalf. Around 30% of UK and US transactions complete this way. The downside is no chance to inspect the property again before signing; many buyers prefer to fly out for the closing.

Do I need a Greek bank account to buy?

Strictly no, but practically yes. The συμβολαιογράφος and the seller expect transfer tax and price funds wired to a Greek IBAN. You can use Wise Multicurrency or your UK bank's SEPA service to wire EUR to the συμβολαιογράφος client account, but plan for 2 to 3 days of float and FX cost. Open a Greek bank account in the same trip you sign, using your fresh ΑΦΜ.

What if the seller insists on a cash component?

Walk away. Cash components in Greek property transactions (the historical undeclared cash on top of the contract price) attract criminal liability for both parties under art. 396 KΦΕ as money-laundering and tax evasion. Modern Greek practice (since 2017) restricts cash to under 500 EUR per transaction. Any seller proposing cash on the side is also likely concealing other defects.

Can a US LLC be the buyer instead of me personally?

Yes. The LLC needs its own Greek ΑΦΜ (corporate, prefix 9 or 8) and a Greek tax representative. The LLC structure adds compliance costs (annual Greek corporate filings) but offers liability isolation. For US residents who already use LLCs for US real estate, replicating the structure in Greece is consistent. For UK residents, buying personally is usually simpler because UK personal income tax on Greek rental can be efficient under the foreign tax credit mechanic.

How long does the whole purchase process take?

4 to 6 months realistic, from offer accepted to keys in hand. Breakdown: 2 to 4 weeks for ΑΦΜ if not already held, 4 to 8 weeks for due diligence (KEK, urban planning certificate, building permit verification, energy certificate), 4 to 8 weeks for transfer tax payment plus συμβολαιογράφος drafting and signing window, 1 to 2 weeks for cadastre registration. Mykonos and Santorini transactions often run longer because of ambiguous historical titles.

Do I get any tax incentive for buying Greek property?

The Golden Visa (residence permit by investment) is available for property purchases above 250,000 EUR in low-density zones or 800,000 EUR in Athens, Thessaloniki, Mykonos and Santorini under the 2024 reform (Νόμος 5089/2024). UK and US buyers do not need the visa for short stays under 90 days but the Golden Visa offers Schengen-area mobility. No personal tax incentive applies beyond standard property income deductions.

Need help managing the συμβολαιογράφος appointment, ordering KEK plus urban planning certificates ahead of signing, sourcing a vetted Greek lawyer in Athens, Heraklion or the Cyclades and structuring the foreign purchase tax efficiently for UK or US tax purposes? The Standard Package HostReady (Greece) includes a foreign buyer transaction checklist, a Power of Attorney template for consular execution in London or NYC, a transfer tax cash flow model and a vetted Greek lawyer shortlist for Attica, Cyclades and Crete.