From first enquiry to completed property: the foreign investor’s roadmap

Buying land and building in Greece is not one transaction but a controlled sequence: prepare the buyer, verify the land, sign and register the purchase, design and permit the project, then release construction funds against documented progress. The order matters. A low asking price cannot compensate for unclear title, illegal access or a plot that does not support the intended building.

This guide describes a typical private investment. Timings are indicative; island offices, archaeology, forestry, planning conditions, financing and the complexity of a design can change them.

Indicative timeline

Phase	Typical working time
AFM, representatives and buyer file	1–3 weeks
Legal and technical land checks	2–6 weeks
Contract preparation and closing	2–6 weeks after satisfactory checks
Concept design and surveys	3–8 weeks
Approvals and building permit	commonly 3–9+ months
Villa construction	commonly 10–18+ months
Completion, connections and handover	2–8 weeks

1. Define the investment before selecting land

Decide whether the property is for personal use, long-term rent, holiday rental or resale. Set an all-in ceiling covering land, taxes and closing costs, design, permits, construction, utility connections, landscaping, furniture, professional fees and a contingency. Compare live projects to understand achievable specifications, and review available plots only after the brief and budget are clear.

2. Obtain an AFM and prepare the buyer file

Every buyer needs a Greek tax identification number (AFM). A non-resident can apply through myAADE personally or through an authorised person; a Greek tax representative may also be appointed. In practice, the lawyer or accountant prepares the application, identity documents, address and contact evidence, powers of attorney and certified translations or apostilles where required.

Open a Greek bank account if the transaction structure or bank requires one, but do not assume it is legally necessary in every case. Banks, notaries and professionals will perform anti-money-laundering checks, so prepare evidence of source of funds, tax residence and the transfer trail early. Keep payments banked and traceable.

3. Reserve conditionally, not blindly

A reservation deposit should be governed by a written document naming the plot, amount, deadline, refund conditions and who holds the money. Make it conditional on satisfactory legal and technical due diligence. It is not a substitute for checking the property.

4. Run independent legal and technical due diligence

The buyer’s lawyer checks the seller’s ownership chain, cadastral and land-registry records, mortgages, seizures, claims, easements and the seller’s authority to sell. The notary prepares and authenticates the deed but should not replace independent buyer advice.

The buyer’s engineer and surveyor compare the title, cadastral plan and physical boundaries; confirm legal road access, area and coordinates; assess building eligibility and capacity; and investigate planning, forestry, archaeology, coastline, protected-area and other restrictions. They also review slope, retaining works, ground conditions, water, electricity, drainage and access for construction vehicles. A preliminary buildability opinion is valuable, but only the competent authorities and the issued permit provide the final administrative outcome.

Do not waive either track. Clear title does not make land buildable, and buildable-looking land does not prove ownership.

5. Sign, pay taxes and register ownership

After satisfactory checks, the notary gathers the statutory documents and drafts the purchase deed. The buyer reviews a translation, pays the applicable property-transfer tax and agreed purchase funds, then signs personally or through a valid power of attorney. Funds normally move by documented bank transfer according to the deed.

The deed must then be filed with the competent Hellenic Cadastre/Land Registry. Ownership protection comes from the signed deed and its registration, not from a reservation agreement. Keep the registered deed, registration certificate, survey, tax receipts and payment evidence together.

6. Design, budget and permit before construction

The architect turns the brief into a concept; engineers prepare topographical, architectural, structural, energy and building-services studies. Freeze a specification and obtain a detailed priced scope: areas, materials, brands or performance levels, exclusions, VAT treatment, utilities, external works and change-order rules. The responsible engineer submits the permit through Greece’s e-Adeies system. Construction should not start before the required permit and approvals are in place.

Use the relevant professional services for legal, notarial and construction support, while keeping buyer-side checks independent where interests could conflict.

7. Construction payments are usually staged

A sensible contract links transfers to measurable milestones, for example:

1. mobilisation and site setup;
2. excavation, foundations and structural frame;
3. masonry, roof and waterproofing;
4. first-fix electrical and plumbing, windows and insulation;
5. plaster, tiling, joinery and finishes;
6. external works, testing, snagging and handover.

The exact percentages depend on procurement and must be written into the contract. Before each transfer, the investor should receive an invoice, progress report and photos, plus certification by the supervising engineer where agreed. Avoid paying far ahead of completed work. Variations need a signed price-and-time change order before execution.

International transfers should quote the contract/invoice reference. Allow for bank compliance questions and currency-conversion time; a delayed transfer can delay the programme.

8. What protection does the investor receive?

Protection is a package, not a slogan:

• registered legal title to the land;
• a signed construction contract identifying the parties, drawings, specification, price, taxes, milestones and completion rules;
• independent supervision and milestone acceptance;
• invoices and a complete payment trail;
• contractor and professional insurance where applicable;
• contractual remedies for delay, defects, termination and dispute resolution;
• retention, performance security or a bank guarantee only when expressly negotiated and documented;
• statutory and contractual defect rights, whose scope and duration must be confirmed by the investor’s Greek lawyer.

No responsible developer can guarantee permit timing, market value or rental return. What can be controlled is documentation, allocation of risk, transparent reporting and the rule that money follows verified progress.

9. Handover and operation

Before final payment, inspect the property, record snags, test systems, collect keys, approved drawings, permits, certificates, warranties, manuals and contractor contacts, and confirm utility and tax arrangements. Agree a written deadline for defects and retain the contractually specified amount until the relevant acceptance conditions are met.

If income is the goal, set up insurance, maintenance, accounting and the legally required rental registrations before marketing. Our contact team can coordinate an initial investment brief and introduce the appropriate specialists.

This article is general information, not legal, tax or investment advice. Rules and project conditions change; obtain current advice from independent Greek legal, tax and engineering professionals before committing funds. Updated: July 2026.