Real Estate Law

The real estate market in Greece is experiencing a major upswing due to the current steady decline in prices and the increasing interest from buyers, particularly from foreign investors.

However, nationwide economic developments in Greece have led to significant legal changes, especially in the area of ​​property tax law. A variety of legal amendments resulting from the introduction of numerous reforms, as well as other specific features such as the establishment of the new land registry, the legal requirement to regulate unauthorized construction, and, not least, the question of how transactions will be processed during the period of capital controls introduced in 2015, can present avoidable obstacles for many potential foreign buyers, ultimately limiting their interest.

This situation presents numerous lucrative opportunities for acquiring and investing in high-quality real estate in Greece, which would be a favorable prospect for many investors.
Against this backdrop, the selection and involvement of expert advisors (lawyers, tax consultants) and competent technical professionals (civil engineers, architects) is of particular importance to ensure that the handling of a real estate acquisition is as legally clear and secure as possible. This applies both to the selection of a suitable investment property and to the legal review and drafting of contracts, obtaining the necessary permits and other certificates, financing, fulfilling tax obligations, and so on.

Aware of these specific characteristics and the legal uncertainties that can arise, especially for foreign investors—due to a lack of understanding of Greek law and the procedures and specificities that must be observed within the country—the law firm KPAG Kosmidis & Partner, through its nationwide network of competent professionals, offers supportive and accompanying legal advice in all relevant areas.

The following points aim to clarify and facilitate the procedures to be followed when acquiring real estate by providing an overview of the essential topics in real estate law. It should be noted that this information is not legally binding and is in no way intended to replace individual legal advice. The specific features and problems that may arise during a real estate acquisition must be examined separately in each individual case, taking into account and analyzing the facts and circumstances of the specific situation.