Buying a place in Greece can be brilliant — a lifestyle move, a long-term investment, or part of a wider residency strategy. But it’s also one of those purchases where a small mistake can turn into a very expensive headache, especially if you transfer funds too early or rely on “verbal assurances” rather than paperwork.

This is a practical, money-first checklist you can use before you send any meaningful amount to anyone. It’s written for UK residents, so you’ll see budgets in £, plus the UK tax and reporting angles you’ll want to keep in mind.

If your purchase is linked to immigration goals, it’s also worth understanding how property fits alongside routes like the Greece Golden Visa (and the additional due diligence that tends to come with it). 

1) Start with the “why” (because it changes every decision you make)

Before you view another listing, be honest about what you’re buying for:

• Lifestyle / holiday home (and maybe occasional letting)
• Yield-first investment (long-term tenant or short lets)
• A family base in the EU
• A residency-led plan (where the property is part of a bigger compliance picture)

If you’re looking at this through an international mobility lens, it helps to read how different routes work side-by-side — not just in Greece, but across Europe — because that changes what “good value” really means. Start with Residency and Citizenship by Investment and then narrow down via Residency by Investment Programmes. 

2) Build a realistic £ budget (not just the asking price)

A UK reference point helps keep your expectations grounded: the average UK house price was about £271,000 in November 2025. That doesn’t mean you should spend that figure — it just gives you a sanity check when someone tells you a “bargain” flat in a prime area is “cheap for Greece.” 

When you budget, split it into:

1. A) Purchase funds

• Property price (often quoted in €)
• Deposit/holding amount (only after your lawyer confirms where it’s held and under what terms)

1. B) Transaction costs

Expect a meaningful “all-in” spread beyond the headline price. Your exact figure depends on property type, value, location, and whether there are renovations/regularisations required.

1. C) Ownership costs (yearly)

• Taxes, insurance, utilities, building/communal charges
• Maintenance (and it’s rarely “optional” near the sea)

1. D) Currency risk

Your costs are in €, but your wealth and income may be in £. Even a small EUR/GBP move can materially change what you pay. For tax calculations, the UK publishes official monthly exchange rates (useful for consistent reporting). 

3) Know the residency angle before you choose the postcode

If residency is on your mind, don’t leave it until “after the purchase”. In Greece, the rules and thresholds can vary by location and property type, and the compliance checks can be stricter than people expect. 

And if you’re still deciding where in Europe fits best, a comparison article can stop you wasting months. See Greece vs Hungary vs Malta. 

4) Your “no money moves yet” rule: appoint an independent Greek lawyer first

This is the single biggest protection you have.

You want a Greek lawyer who:

• Works for you (not the agent, not the developer, not “the family friend”)
• Can perform land registry/cadastre checks, planning compliance checks, and debt/encumbrance checks
• Will explain risks in plain language before you sign anything

If your property purchase is tied to residency, you also want a team that understands the compliance requirements and the evidence trail you’ll need to keep. This is where working with a specialist like a residency by investment solicitor can make the process calmer and safer. 

5) Get the basic admin sorted early: AFM (Greek tax number) and practical banking

As a foreign buyer, you’ll typically need a Greek tax identification number (AFM) to transact properly. It’s widely treated as a foundational requirement for buying property and handling related obligations.

UK government guidance on living in Greece also flags the AFM as a key registration step for tax purposes. 

Practical tip: get your AFM and banking plan in place before you’re emotionally attached to a property. If you wait until the last minute, pressure builds, mistakes happen, and you’re more likely to transfer funds “just to keep it moving”.

6) Verify the seller, the agent, and the authority to sell

Before you pay a deposit, your lawyer should confirm:

• The seller is the legal owner (not “selling on behalf of” someone without proper authority)
• Any Power of Attorney is valid and appropriate
• The property description matches what’s registered (size, boundaries, use)

If anything is unclear, slow down. The market will still be there next week — your money might not be if you move too fast.

7) Title and encumbrance checks (this is where deals go wrong)

This is the heart of your due diligence.

Your lawyer should check the land registry/cadastre position and confirm:

• Clear title (ownership chain makes sense)
• No mortgages, liens, court claims, or other encumbrances that could block transfer or create ongoing risk

Legal commentary around Greek transactions regularly highlights the importance of identifying encumbrances and ensuring they can be cleared as part of the deal mechanics. 

What you want in writing: confirmation that the title is clean or a clear plan for how it will be made clean (and how the money flow is structured to ensure that happens).

8) Planning, building legality, and “what you see is what you’re buying”

In Greece, a property can look perfect in a viewing and still carry planning and compliance issues — especially older homes, renovated properties, and anything that has been extended.

Your diligence should cover:

• Building permits / planning status
• Whether any parts are unauthorised (extensions, enclosed balconies, extra rooms)
• Whether regularisation is required (and who pays)
• Whether you’re buying what you think you’re buying (including legal square metres)

Many Greek legal guides stress that due diligence often includes urban planning compliance and, depending on location, additional clearances (forestry/archaeology). 

9) Location-specific restrictions: coastline, archaeology, forestry, and zoning

Greece has areas with extra layers of protection and bureaucracy. Depending on where you buy — whether near the coast, in protected zones, or in historically sensitive areas — you may need additional confirmations.

Good due diligence frameworks explicitly flag location-driven checks such as archaeological and forestry clearances. 

This matters if you’re buying in or near hotspots such as Athens (including coastal areas), Thessaloniki, or islands like Mykonos and Santorini, where demand, enforcement, and rules can differ from quieter markets.

10) Confirm the property’s tax position and running costs before you commit

ENFIA (annual property ownership tax)

Greece has an annual property ownership tax (ENFIA). The Greek tax authority explains that ENFIA is derived from real estate held as of 1 January each year and is calculated based on declared property data.

You don’t need to memorise the formula — you do need to confirm:

• Whether the seller is up to date
• What the expected annual cost looks like
• Whether any historical issues exist that could create delays or unexpected bills

Utilities and building charges

Ask for evidence of:

• No outstanding utility bills tied to the property
• Any communal/building charges, sinking funds, or planned major works

11) Energy and technical documents (especially if you’ll rent it out)

If you plan to let the property — even occasionally — you need to understand what documentation is expected in the market. For example, energy performance documentation is commonly referenced as necessary for selling or renting certain properties in Greece.

Also consider a technical inspection by a qualified engineer, particularly for:

• Structural condition (older buildings, seismic considerations)
• Damp/roofing issues (very common in coastal or stone properties)
• Renovation costs (which can be underestimated by overseas buyers)

12) If you’re planning to rent: confirm what’s legal in that location

Don’t assume “you can always Airbnb it later”.

Before you buy, confirm:

• Whether short-term letting is permitted in that building/area
• Whether there are registration requirements and local rules
• Whether your expected yield is realistic once you include management, voids, and maintenance

A property that works brilliantly as a family base can be a poor rental — and the reverse can also be true.

13) UK tax and reporting: build this into your plan now, not at year-end

If you remain a UK resident, the UK position is straightforward in principle: you’ll normally pay UK tax on foreign income. 

Key points to keep in mind:

• Foreign rental income generally needs reporting in the UK (and you may also have obligations in Greece)
• When you sell, UK residents pay Capital Gains Tax on overseas property disposals (subject to allowances/reliefs and any double-tax relief mechanisms)
• The UK notes that it has a double taxation agreement with Greece, aimed at preventing tax on the same income in both countries 

This is where you’ll want your accountant involved early — not because it’s “scary”, but because clean records make everything easier.

14) Money transfer safety: how to protect yourself before you send a large amount

This is the bit you came for: what you should do before you transfer any serious money.

Your pre-transfer checklist (print this)

Before you send funds beyond a small, properly documented holding deposit, make sure you have:

1. Your lawyer’s written confirmation of:
   • ownership/title position
   • encumbrance status (or the exact clearance plan)
   • planning/building compliance position
2. A clear contract trail (reservation agreement / preliminary agreement / purchase contract), reviewed by your lawyer
3. A clear explanation of where your money is going, including:
   • account name matches the intended recipient
   • purpose of payment stated
   • any escrow/notary mechanics documented
4. A written completion timetable and conditions
5. A cost schedule in £ and € (fees, taxes, works, utilities, annual costs)
6. Source-of-funds evidence ready (banks can and do ask, and residency-linked purchases can attract more scrutiny)
7. An FX plan (rate strategy, timing, and fees)
8. Evidence that property taxes and key bills are settled (or how they’ll be settled at completion)

If any of the above is missing, it’s a red flag — not necessarily fraud, but a sign you’re being rushed.

15) Where Coates Global fits in (and why due diligence is the real “investment”)

Buying property abroad isn’t just a transaction — it’s a chain of legal checks, tax decisions, and compliance steps that need to line up. If your Greece purchase is tied to lifestyle planning, residency options, or a wider family strategy, it can help to anchor your decision-making with a specialist view of the bigger picture.

You can start by reviewing the Greece country page and, if you’re focused on programme integrity and risk controls, it’s also worth reading how the compliance environment is tightening across Europe — see EU tightens due diligence across Golden Visa programmes. 

Next steps

If you’re considering a Greek property purchase and you want a structured due diligence plan before you move any serious money, speak to Coates Global early. A short conversation now can save you months of stress (and a costly mistake later). Get in touch here: Contact Coates Global.

Ready to take the next step towards EU residency or citizenship? Speak to Coates Global today for clear, compliant guidance tailored to your goals. Whether you need a portugal golden visa solicitor, a hungary golden visa solicitor, an italy investor visa consultant, or a malta citizenship by investment solicitor, we’ll help you understand eligibility, costs, timeframes, and documentation—so you can move forward with confidence. Book a consultation and get a clear plan from day 1.