Buying and owning property
Buying Property in Greece for US Citizens: An Investor's Guide
Opportunities for US Citizens
Greece attracts American investors with its mild climate, developed tourism infrastructure, and European legal system. For US citizens, buying property is a way to secure a European home, an investment asset, or a basis for obtaining a residence permit.
The Acquisition Process
US citizens have the right to purchase apartments, villas, land plots, and commercial properties. The standard process includes:
- Obtaining a Greek Tax Identification Number (AFM).
- Legal due diligence of the property (title deeds, cadastral documents, absence of encumbrances).
- Verification of building permits.
- Finalizing the transaction with a notary.
Important: It is highly recommended to engage an independent lawyer and an engineer to conduct a comprehensive due diligence of the property before purchase.
You can view current offers in the AILIT Group project catalog.
Why Crete?
Crete remains one of the most promising regions for investment. High tourist demand, the presence of international airports, and the popularity of quality seaside real estate make the island an ideal place for both purchasing ready-made villas and implementing individual construction projects. You can learn more about construction opportunities on the real estate construction in Greece page.
The Golden Visa Program
Real estate investments allow US citizens to apply for a Greek residence permit (Golden Visa) for 5 years with the possibility of renewal. The residence permit extends to the investor’s spouse, children, and parents.
Investment Thresholds:
| Region / Property Type | Investment Threshold |
|---|---|
| Athens, Thessaloniki, Mykonos, Santorini, and large islands | 800,000 EUR |
| Other regions | 400,000 EUR |
| Conversion of commercial premises to residential / Restoration of historic buildings | from 250,000 EUR |
Note: A residence permit does not automatically grant citizenship. Current data is confirmed by the Greek Ministry of Migration and Asylum (Υπουργείο Μετανάστευσης και Ασύλου).
Taxes and Management
US citizens are required to declare their worldwide income, so income from renting or selling property in Greece may be subject to taxes in both countries. Before the transaction, it is necessary to consult with tax specialists in the US and Greece.
For owners living outside Greece, management issues are critical: construction control, maintenance, and rentals. AILIT Group supports clients at all stages—from selecting a plot to professional management of the finished property. Learn more in the real estate investment in Crete section.