A property transaction in Greece: a tax number, a notary and the cadastre

A Greek transaction is continental: a notary, registration, and a lawyer acting for the buyer as standard practice. What tends to alarm foreigners is not the structure but the timescale: verifying title to a Greek property can be slow, and the reason for that is historical.

What is needed before the transaction

• An AFM — a Greek tax number. Without it you can neither buy a property nor set up utilities nor declare income. Obtained at the tax office, including through a representative under power of attorney.
• A Greek bank account — for settlement, taxes and utility payments.
• Evidence of the source of funds — a compulsory part of compliance, prepared in advance.

Title verification: why it takes time

Greece has been moving for years from a system of registers organised by owner to a national cadastre organised by parcel. In some areas the transition is complete, in others it is not, and boundaries in the documents may not match the cadastral ones.

• A lawyer checks the whole chain of transfers, not only the last transaction.
• Inherited properties are a separate source of difficulty: several heirs, unclaimed shares, fractional interests.
• Plot boundaries and the correspondence of buildings to permits are checked by an engineer; unauthorised works and extensions are a common story.
• Properties by the shore, by forest or in an archaeological zone carry additional restrictions and approvals.

The notary and the contract

The sale contract is drawn up and executed by a notary; transfer tax is paid before signing. The notary checks the formal side, but the buyer's interests are protected by the buyer's own lawyer — different roles that should not be combined.

Registration

After signing, the transaction is registered, and only from that point is the buyer the owner. Registration is not a formality: an unregistered transaction does not protect you from third-party claims.

Costs beyond the price

• Transfer tax, or VAT on new build.
• The notary's tariff on a scale by transaction value.
• A lawyer — usually a percentage of the value.
• Registration fees and engineer's technical reports.
• Agency commission, if the property was found through an agency.

The practical conclusion

A Greek transaction is safe when an independent lawyer runs it and when both time and verification costs are in the budget. It becomes risky at exactly the moment a buyer decides to save on checking the chain of title because "the property is new and everything is fine". In a country with this history of title records, that is the most expensive saving available.