Real estate law in Greece

Property Acquisition in Greece

 

The acquisition of real estate in Greece is governed by the Greek Civil Code (Astikos Kodikas), which corresponds to the German Civil Code (Bürgerliches Gesetzbuch). There are also further similarities between German and Greek real estate law.

The acquisition is finalized by a notarized purchase contract as well as registration in the mortgage registry (Ipothikofylakio) and in the land registry office (in places where a land registry office is already operational). Ownership of a property is only legally established once the entry in the Greek land registry or cadastre has been made.

Until recently, entries in the cadastre office were name-based rather than object-based.
 

With the introduction of the land registry office (Ktimatologio), entries should only be object-based (according to cadastral parcels). Since the transition to the land registry is not yet complete in all municipalities in Greece, so-called land registries in some places are still maintained name-based.

Therefore, it is advisable — indeed necessary — to have the ownership status checked by a lawyer through appropriate research in the responsible cadastre or land registry office before acquiring real estate.

It should be noted: such research in the land registry or cadastre may only be conducted by lawyers in Greece.

The Greek land registry does not list all properties of a person, nor all dispositions and legal transactions related directly to a specific property.

Due to the name-based registration in the cadastre, it is possible to track which property or properties a person owns only in the respective municipality.

 

In such research, ownership is checked as well as possible encumbrances (e.g., compulsory mortgages).

Encumbrances on a property are also maintained name-based in the cadastre, specifically in the mortgage book. In the future, possible encumbrances will be listed on the same page in the land registry.

Besides commissioning a lawyer to conduct research in the land registry/cadastre, it is also possible to request a certificate of entries from the land registry office.

However, this certificate only contains extracts of entries; a detailed and legally secure examination must be requested separately.

Since the processing time, quality of research, and costs should not be underestimated, it is recommended to entrust this task to an experienced lawyer.

Restrictions under Greek Law on Property Acquisition

 

 

Important restrictions on property acquisition include, but are not limited to:

• Foreign-specific restrictions in regions/areas defined as border zones: These restrictions do not apply to EU citizens; non-EU citizens must obtain permission from the responsible prefecture.

• Building law restrictions: Building regulations must be observed, notably that no property outside the approved development plan may be built on unless it is at least 4,000 square meters in size.

• Restrictions related to nature and monument protection: Nature-related restrictions mainly concern forestry and coastal protection. State-owned forest lands and properties on seashores may not be acquired. Approval by the Ministry of Agricultural Development and Food is also required for selling, acquiring, or dividing forest properties (e.g., Art. 216 para. 1a of the Forest Law). Properties under monument protection are subject to the requirements of the monument protection authority.

• Restrictions in regions/areas designated as military zones: The purchase of properties in such areas is not permitted.