A Foreign Investor’s Guide to Real Estate: Athens, the Riviera & Piraeus
Published on: September 23, 2026
By P. FLAMBOURAS, Managing Partner at FLAMBOURAS P. & ASSOCIATES LAW FIRM
Navigating the Greek real estate landscape requires an up-to-date understanding of transaction costs, upcoming tax policy shifts, and the high-yield potential of strategic coastal developments. Below is an essential guide tailored for international buyers.
1. Premium Incentives & Tax Regimes
Non-Dom Tax Regime (€100,000 Flat Tax): High-net-worth foreign individuals transferring their tax residence to Greece can opt for an annual flat tax of €100,000 on their global (foreign-sourced) income, regardless of the amount earned abroad, for up to 15 years.
Golden Visa Program: Residency permits remain available via real estate investment, with threshold limits ranging from €250,000 to €800,000 depending on property type and municipality.
2. Taxation & Upcoming Statutory Changes
Current Transfer Tax (FMA): The current effective property transfer tax rate is 3.09% (3% base tax + 3% municipal surcharge).
Announced Transfer Tax Adjustment (15% for Non-EU Buyers): Prime Minister Kyriakos Mitsotakis has officially announced a proposal to raise the transfer tax for non-EU buyers from 3% to 15%. While this reform has been presented at the government level, it has not yet been enacted into law. Investors are currently closely tracking legislative drafts regarding its implementation timeline and transitional provisions.
Annual Ownership & Income Taxes: Properties are subject to annual ownership tax (ENFIA) and progressive rental income tax rates starting at 15% (up to €12,000).
3. Transaction Costs & Legal Representation
Legal Representation Requirements: Mandatory legal representation during contract execution was formally decoupled under past statutory reforms. Proposed adjustments to re-introduce mandatory legal presence for higher-value thresholds (e.g., contracts over €50,000) remain subject to pending legislative vote. Regardless of statutory minimums, independent legal counsel is universal practice for title deeds checks at the Cadastre/Land Registry. Legal fees typically average 1% to 1.5% (+ VAT).
Notary & Registration Fees: Notary fees scale from 0.8% to 1.2% (+ VAT), while Land Registry/Cadastre submission fees average 0.6% to 0.8% (+ VAT). Real estate brokerage fees are typically 2% (+ VAT) per side.
4. The Athenian Riviera, Ellinikon & Piraeus Growth Story
The Ellinikon Mega-Project: As Europe’s largest urban regeneration project, The Ellinikon is transforming the southern waterfront with smart infrastructure, luxury residences, parks, and marinas, acting as a massive valuation anchor for adjacent coastal districts.
Infrastructure & Connectivity: Modernized road networks, expanded metro links, and immediate proximity to central Athens, Cape Sounio, and the Aegean island ferry terminals in Piraeus position the coastline as a prime global destination.
Investment Outlook: Driven by crystal-clear waters, lifestyle appeal, and sustained international demand, real estate along the Riviera and Piraeus displays resilient price appreciation—establishing it as a robust capital preservation and capital growth asset regardless of broader market fluctuations.
