How Much Extra Cash Do You Need to Buy Property in Greece?
The safe budget rule
Many foreign buyers search for the same answer: how much more than the property price should I hold in cash?
A safe starting range is 8% to 12% above the purchase price. Some deals cost less. Some cost more. The final number depends on tax, notary fees, land registry or cadastre fees, lawyer fees, engineer checks, agency fees, bank fees, and currency costs.
Common purchase costs
- Property transfer tax, unless a VAT rule applies.
- Notary fees.
- Registration or cadastre fees.
- Lawyer fees.
- Engineer inspection fees.
- Real estate agency fee, if payable by the buyer.
- Translation, apostille, and power of attorney costs.
- Bank transfer and currency exchange costs.
Do not spend your full budget on the offer price. Keep a cash reserve for costs, repairs, furnishing, insurance, and the first year of ownership.
Ongoing costs after purchase
The key annual property tax is ENFIA. Owners may also pay municipal charges, utility deposits, common building fees, insurance, accountant fees, and property management fees.
If you rent the home, plan for income tax, cleaning, maintenance, guest damage, platform fees, and seasonal vacancy. A strong summer rate does not remove winter costs.
Practical buyer tip
Build a one-page budget before you offer. Use three columns:
- Purchase price.
- One-off buying costs.
- First-year ownership costs.
Then add a buffer. If the deal only works with a perfect budget, it is not a strong deal.
Ask for net numbers
If you plan to rent the property, ask for a net estimate, not only gross rent. Net means income after tax, management, cleaning, repairs, platform fees, vacancy, utilities, and replacement items.
If you plan to renovate, separate must-do works from nice-to-have works. Roof, damp, wiring, plumbing, and heating should come before furniture and styling.
Useful next read: Greece Property Taxes and Buying Costs for Foreign Buyers in 2026.
For tax rules and owner filings, check AADE.
