1. Buying a house in Greece as a non-EU citizen
For UK citizens, buying a house in Greece after Brexit is not fundamentally more difficult than before, but some additional steps are now required. Brits can buy properties in Greece without restrictions in most of the country. However, there are specific areas that are considered strategic where third-country nationals must apply for special permission.
A. Geographical areas requiring authorisation
Some regions of Greece, mainly close to the borders or in areas deemed sensitive (e.g. certain islands or regions close to Turkey), are subject to restrictions for non-EU foreign buyers. These areas include:
- The islands of the Eastern Aegean.
- The regions of Thrace.
- Parts of the Dodecanese Islands.
In these areas, non-EU citizens, including Britons, must apply for special permission from the Ministry of Defence to purchase property. Outside of these areas, there are no purchase restrictions.
Administrative procedures
As a non-EU citizen, a British citizen will have to follow similar procedures to other non-EU foreigners for the purchase of real estate in Greece:
- Obtaining a Tax Identification Number (AFM): This is the first step to buying a property in Greece. The AFM is required for all financial transactions, including the purchase of real estate.
- Opening a bank account in Greece: Although not mandatory, it is recommended to open a Greek bank account to facilitate payments, including ancillary costs such as property taxes.
- Hire a lawyer: It is highly advisable to hire a lawyer to check the title deeds, ensure that there are no mortgages or disputes on the property, and supervise the transaction.
- Sign the deed of sale at the notary: The presence of a notary is mandatory to finalize the purchase of a property in Greece. The notary authenticates the deed of sale and ensures that it is registered in the land register.
2. Visa and residence permit for UK citizens
After Brexit, British nationals can no longer stay in Greece for more than 90 days in a 180-day period without a visa or residence permit. If you plan to live in Greece long-term or spend more than three consecutive months in your second home, it is necessary to apply for a residence permit.
A. Short-term stay (less than 90 days)
UK citizens can stay in Greece for periods of up to 90 days within a 180-day visa-free period. This is perfect if you want to use your home as a holiday home or for short stays.
B. Long-term stay (more than 90 days)
If you want to reside in Greece for more than three consecutive months, you will need to apply for a residence permit. There are several options available to you depending on your circumstances:
- Residence permit for retirees: If you are retired, you can apply for a long-term residence permit by proving that you have stable and sufficient income to live in Greece without working (pensions, savings, etc.).
- Golden Visa: If you invest at least €250,000 in real estate, you can obtain a residence permit through the Golden Visa » program. This permit is valid for five years and can be renewed, with the added benefit of allowing you to travel freely within the Schengen area.
3. Taxation and legal obligations
As a non-resident owner, you will have to pay property taxes in Greece, even if you do not live there full-time. Here are some of the taxes to consider:
- ENFIA (Annual Property Tax): All property owners in Greece are subject to ENFIA, an annual tax based on the appraised value of the property.
- Taxes on rental income: If you decide to rent out your house, the rental income is taxable in Greece. It is recommended that you consult a tax expert to understand your tax obligations and optimize the management of your property.
4. Advantages of buying property in Greece after Brexit
Despite the legal changes related to Brexit, Greece remains a very attractive destination for UK investors:
- Affordable real estate: Compared to other popular European destinations, property prices in Greece remain competitive, offering good value for money, especially in coastal regions and islands.
- Mediterranean climate: With more than 300 days of sunshine a year in some areas, Greece is an ideal place to live for sun and sea lovers.
- Relaxed lifestyle: Greece is renowned for its peaceful lifestyle and quality of life, making it a top destination for retirees and expats.
Conclusion
Yes, UK citizens can still buy a house in Greece after Brexit, but some rules have changed. The administrative procedures are slightly more complex, especially with regard to long-term stays. However, with proper preparation and following the legal procedures, acquiring a property in Greece is still a great opportunity, whether for a holiday, an investment or a retirement in the sun.
