Buying Property in Greece as an American | Important Tips

Imagine starting your day with the soothing sound of waves on a Greek island, coffee in hand, a good book nearby, and the sparkling blue Aegean Sea stretching out before you. This dream is no longer just a fantasy. 

In recent years, buying property in Greece has become not only possible but surprisingly accessible for Americans. With benefits like no visa requirements for ownership, access to Greece’s Golden Visa program, and a steadily growing real estate market, more U.S. citizens are choosing Greece as their second home or future investment hub. In this guide, you’ll discover the steps, tips, and unique opportunities that come with owning your slice of paradise in Greece.

Can an American Buy Property in Greece?

Imagine waking up to the sound of waves lapping on the beach of a Greek island, a cup of coffee in one hand and a good book in the other on a sun-filled terrace with a view of the beautiful blue Aegean Sea, strolling through winding cobbled walkways in the evening. If that sounds like a fantasy, luck is on your side.

Can Americans buy Property in Greece? Absolutely, and the good news is that it is easier than you may think. In fact, can an American buy Property in Greece without dealing with troublesome legalities? Yes, they can.

Greece has seen a major uptick as one of the preferred locations for foreign property buyers in recent years, and Americans are at the top of the list! With a legal system that favors sellers, no visa required for ownership, and other attractive options like the Golden Visa, can an American buy Property in Greece for a vacation home, investment property, or to retire? The answer is yes. Greece is open to US citizens buying, settling, or simply enjoying the Mediterranean dream.

Whether you're looking to invest in a charming vacation property, an income-producing Property, or a quiet place to spend your retirement, the question remains: can Americans buy Property in Greece, and is it a good investment for the future? The answer is absolutely yes. Greece offers a dynamic culture, superb food, and low cost of living, and it is an ideal location to enter and explore Europe. It's no wonder many Americans are redefining "home" to include Greece as a second, or even primary, home residence.

In this guide, you will learn about the ins and outs of the process. From legalities and paperwork, to the best areas to purchase in, to the price of properties. Most importantly, you will discover how iLand can accompany you every step of the way, from your first question to the day you receive your keys.
So if you have ever dreamed of owning a slice of paradise, now is the time to see the possibilities. Let's get started and discover whether buying Property in Greece is one of the best decisions you will make this year.

Buy Property as an American in Greece | Step by Step

Purchasing property abroad certainly seems difficult, but luckily, buying real estate in Greece is pretty easy, especially if you have good people steering your ship. A common question we receive is: Can US citizens buy Property in Greece? The answer is yes, of course they can. At iLand, we will walk you through every step of the way, from the first inquiry to the day you have the keys to your new home.
We've put together a simple guide for how Americans can buy Property in Greece:

1. Obtain a Greek Tax Identification Number (AFM)
   Every buyer (local and foreign) must have an AFM number in Greece. The AFM is a tax identification number that is unique to the individual, and it is used in every official property transaction. We will help you fill out the application and obtain the AFM number from your local tax office. If you're asking, can US citizens buy Property in Greece? A Greek tax number is one of the first steps, and we will make it easy. (Read more about the Tax system in Greece in the other article.)

2. Find a Local Lawyer
   Your attorney serves as your legal backstop. They will do their due diligence on the Property (title deeds, debts on the Property, zoning, etc, help review contracts, and protect your rights in the purchase. We can recommend vetted and experienced English-speaking lawyers.

3. Open a Greek Bank Account
   It is not a requirement to open a Greek bank account, but in our experience, it makes life easier when paying taxes, notary fees, utilities, and on the day of the transaction. And some banks now allow you to open a bank account completely remotely.

4. Sign the Preliminary Agreement
   This document clarifies the agreed final selling price, timeframe, and purchase obligations, and establishes an agreement to which both the buyer and seller have committed.

5. Final Contract Completion at Notary Office
   The last step is to sign the official contract with a witness before a Notary Public. The Notary Public will officially record the transaction, and if you are buying in a company name, they will register your ownership with the Greek Land Registry.

6. Pay Transfer Tax & Fees
   You will make one payment for the property transfer tax (approximately 3.09%) and notary, legal & registry fees. These are normal fees when purchasing Property.

Do You Need to Be in Greece for All of This?

No, you can grant your attorney a power of attorney to act on your behalf, meaning that, if necessary, you can complete the entire process remotely! Many of our American clients have never even visited until they arrive and enjoy their new home!

What about residency?

You do not need residency or a visa to own Property in Greece. If you will be in the Schengen Zone for more than 90 days within 180 days, you may want to pursue a residency permit, such as through the Golden Visa, which may work best for you. (but first of all, you should know about Greece Golden Visa Requirements) With a property investment of €250,000 or more in the eligible areas, you can qualify for this program for a five-year residency permit, which is renewable, for you and your family. Let iLand manage for you!

iLand will source and complete the legal steps for you, manage translations and local coordination, and even furnish or renovate—we do it all. Your full service partner on the ground in Greece, to make purchasing Property abroad as easy as possible!
We will handle the work so you can enjoy the most important part of enjoying your home in Greece!

How is the Greece Real Estate Market for Americans?

The Greek property market has become an entirely different world, and its potential is something nobody is giving more notice to than Americans.

After years of recovery from the financial crisis that struck Greece and much of Europe, Greece is now one of Europe's most promising real estate markets. Greek property prices are still among the lowest in the EU countries but are increasing steadily.

Greece is attractive to American buyers because it is affordable now and has potential for growth in the future. In 2024, foreign funds invested 28.9% more money in Greek Property than last year, a total of €2.75 billion, a sure sign of international confidence in the market. For United States buyers, you couldn't pick a better time.

Why Is Greece So Attractive for US Property Buyers?

• Low Entry Price Compared to Other European Markets
  While France and Italy's property prices are sky high, Greece still has relatively cheap beach houses, town/city apartments, and rural homes for families.

• No Visa Ownership Restrictions
  There are no residency requirements for Americans to buy Property in Greece. You are allowed to purchase Property no matter your intent to live there full-time.

• Golden Visa from Investment
  With an investment worth €250,000+ (or depending on the area, €400,000-€800,000 since 2024 changes), you can apply for a residency permit through Greece's Golden Visa. Holders receive visa-free access to the Schengen Zone, and can potentially relocate there permanently.

• Tourism Up = Rental Income
  Greece received over 33 million tourists in 2023. Many of them would rather stay in vacation rentals than hotels. There is a significant demand for rentals, specifically in areas like Athens, Santorini, Mykonos, and Crete.

• A Unique Opportunity for Americans
  Due to the strong dollar and flexible ownership laws, an increasing number of Americans are entering the Greek market, whether it is to diversify their portfolio, earn passive income from rentals, or plan for a retirement abroad.
  According to a 2024 article from Kathimerini, US interest in Greek properties increased by 40% year-over-year, and Americans are now one of the top 5 foreign buyer nationalities in Greece.

Additionally, if you would like to learn more about the cost of living in Athens, click to find out more.

What Can Greece Offer?

It's not all about the numbers; Greece offers a lifestyle unlike many others:

• 300+ days of sunshine each year

• World-class food and wine

• A rich history and culture

Some of the most picturesque beaches you can find in Europe
So if you're an American considering buying international real estate, Greece offers both value in your investment and personal value.
And with iLand by your side, you don't have to worry about the complexities of legal documents or cultural differences. We will help you navigate the process so you can focus on your most important task: making your Greek dream a reality.

Approximate Property Prices in Greece

If you are curious about how much it costs to have a property in Greece as an American, there are a few things to consider, such as location, property type, etc. The good news is that there is something for everyone, whether looking for a budget apartment in Athens or a luxury villa on a famous island.
As of 2024-2025, Greek real estate is still fairly low compared to much of Europe, but real estate does rise each year, so it is a good time to invest in that.
To get an approximate estimate, we have the division of average property prices according to highly coveted areas in Greece:

Athens (City Center & Suburbs)

• Apartments: €2,000 – €4,500 /m²

• Renovated central apartments (e.g., Kolonaki, Plaka): €3,800 – €6,500 /m²

• Luxury penthouses from: €6,000 /m² and up

You get city living in Athens and a huge market for investors generated by short-term rentals, a hotspot for Golden Visa investment.

Santorini

• Houses/Villas: €4,000 – €7,000 /m²

• Premium cliffside villas can go for €10,000+/m²

You get high rent due to year-round tourism demand, mainly in Oia and Fira.

Mykonos

• Luxury homes: €5,500 – €10,000 /m²

• Beachfront villas: often €12,000/m² +

Well known for luxury buyers, Mykonos is the most expensive but also one of the most lucrative property markets in Greece.

Crete

• City apartments (e.g., Heraklion, Chania): €1,500 – €2,800/m²

• Traditional stone houses inland: €1,200 – €2,000/m²

• Luxury villas (by the sea): €3,000 – €4,500/m²

Property on Crete attracts retirees and families looking to live year-round in a culturally rich and not-too-touristy setting.

Peloponnese & Coastal towns on the Mainland (e.g., Nafplio, Kalamata)

• Modern apartments: €1,800 – €2,500/m²

• Detached houses/villas: €2,500 – €3,500/m²

Great option for buyers who are looking for beach living while keeping the traditional Greek experience at a lower cost point.

Thessaloniki (Northern Greece)

• Apartments: €1,500 – €2,500/m²

• New build apartments: €2,800 – €3,500/m²

Greece's second-largest city is becoming popular for investors with increased students + business.

What to think about while budgeting:

• Additional taxes and fees: Property transfer tax (3.09%), notary fees (1-1.5%), fees for lawyers (~1%), and fees to agents (~2%).

• Furnishing/renovating: Especially if buying older homes or restoring traditional properties.

• Golden Visa minimums: €250,000-800,000 depending on the location of the Property (2024 updates legislation).

At iLand, we work with American buyers who want the best deal considering their goals: summer home, investment properties, luxury residences/castles/estates. iLand does the property search, negotiation, legal, and what comes after purchasing the Property, so investors can invest with complete peace of mind.

Additional Buyer Costs (Estimate)
 

Conclusion

Purchasing Property in Greece is not only possible for Americans; it is one of the best lifestyle (and investment) choices you will ever make. You may have asked "can Americans buy homes in Greece," or "can an American buy a house in Greece" before; the answer will always be yes, and numerous opportunities exist on the Mainland and islands. With an immense setting of natural beauty, historical intrigue, and a property market still within the affordable range for the value, tourism, and buying opportunities are becoming increasingly popular with US buyers each year.

At iLand, we clear away the complexities of an overseas property purchase and worry for you. If you are concerned about whether "Can Americans buy homes in Greece?" when considering retirement, or "Can an American buy a house in Greece," when thinking of investing, we can help you. 

So whether you're looking to buy a vacation getaway, a Golden Visa property, or a retirement location to lie in the Mediterranean sunshine, we would be happy to guide you through the entire process. Every step of the way, from legal, paperwork, negotiations, renovations, management, and selling, we can do it all.
So start now, in fact, start today, and let's find your perfect piece of paradise in Greece.

Frequently Asked Questions

Can Americans buy Property in Greece?

Yes, Americans can legally buy Property in Greece with no restrictions. You don't need to be a resident, and there's no need for a special visa to purchase. All you need is a Greek tax number (AFM), and you're good to go.

Do I need a bank account to buy Property?

It's not a legal requirement, but it's highly recommended. A Greek bank account simplifies payments for property taxes, utilities, and transaction fees. Many banks now allow remote account opening, and iLand can assist you with this step.

Can I buy Property in Greece without being there in person?

Yes. With a power of attorney (PoA), your lawyer in Greece can handle the full transaction on your behalf, including signing contracts, paying taxes, and registering your ownership.

What are the best places to buy Property in Greece?

It depends on your goals.

• For investment: Athens, Mykonos, and Santorini offer high rental returns.

• For lifestyle: Crete and the Peloponnese combine comfort, beauty, and affordability.

• For year-round living: Thessaloniki and inland towns are increasingly popular with expats.

Is Golden Visa program available to Americans?

Yes! If you invest €250,000–€800,000 in qualifying properties (depending on the region), you can apply for the Golden Visa. This gives you a 5-year renewable residency and access to the Schengen Area for travel.

How long does the buying process take?

With proper documentation, the full process usually takes 4 to 8 weeks. If you're applying for a Golden Visa, allow additional time for processing (approx. 2–3 months after purchase).

What are the ongoing costs after buying?

You'll pay an annual property tax (ENFIA), which is relatively low compared to other EU countries. For example, a €250,000 property may incur around €300–€500/year in ENFIA.