100 Questions Before Buying Property in Greece: An Investor's Checklist

Legal Documents and Due Diligence

Before signing any papers, it is essential to ensure the legal clarity of the property:

• Who is the owner and is the title confirmed?
• Are there any mortgages, liens, or legal disputes on the property?
• Is the property registered in the Land Registry?
• Do the actual area and boundaries match the documents?
• Are there any easements, debts, or unpaid taxes?
• Are all extensions and renovations legalized?
• Are the conditions for the return of the deposit specified in the contract?
• What is the role of the independent lawyer and notary in the transaction?
• What are the timelines for signing the contract and registering the title?

Land and Construction

If you are planning to build or buy land:

• What is the building coefficient and is there official access?
• Have the boundaries been confirmed by a surveyor?
• Are there restrictions: forest status, Natura zones, archaeological or coastal zones?
• Are utilities connected (water, electricity, sewage)?
• What is the complexity of the terrain and is a swimming pool permitted?
• Is it possible to subdivide the plot?
• What are the project stages, timelines for obtaining permits, and construction oversight?
• Is the property suitable for the ‘antiparochi’ system?

Financial Calculations

• Does the price match the market and is there an independent appraisal?
• Is the commission included in the price?
• What are the associated costs: purchase tax, notary, lawyer, engineer fees, registration?
• Are an AFM (tax number) and a bank account required?
• How to verify the source of funds and avoid payment blocks?
• What financial reserve should be kept?

Condition of the Property

• When was the house built and is there a building permit?
• Does the property match the plans?
• Have the foundation, electrical, plumbing, and roof been inspected?
• Are there signs of dampness or cracks?
• What is the energy efficiency and the cost of potential repairs?
• Who conducts the final inspection and is there a warranty on the work?

Rental and Operations

• What are the annual costs: ENFIA, utilities, κοινόχρηστα, insurance, pool and garden maintenance?
• Is short-term rental allowed and is registration required?
• What is the seasonality, average vacancy, and net yield?
• Who manages the property and what are the management terms?
• Are there complex restrictions and year-round demand?
• Location assessment: Apokoronas, Hersonissos, Rethymno.

Residency and Golden Visa

• Is the property eligible for the Golden Visa and what is the investment threshold in the region?
• Can family members be included in the application?
• What are the obligations regarding residency, renting, and subsequent sale?
• How does the process work and what happens to the residency permit upon sale?
• Who will assist with obtaining an AFM, opening an account, and post-transaction support?