Buying property in Greece after Brexit Now that the UK has officially left the EU

Buying property in Greece after Brexit

Now that the UK has officially left the EU, buying property in Greece is a little more difficult for UK citizens. You will still have the right to buy and own property, and rent it out if you want to. But you may also face restrictions and a few more administrative processes, as mentioned above. But the good news is that as a non-EU citizen, British buyers are now eligible for the Golden Visa scheme, which we’ll look at next.

Can I buy property in Greece and get residency?

One of the main attractions of buying property in Greece is its Golden Visa scheme. This grants a five-year residency permit to foreigners investing in property in the country. You’ll need to spend at least €250,000 on your home, and meet other criteria such as having health insurance and no criminal record.

Once granted, the holder of a Golden Visa and their immediate family members can legally live and work in Greece. However, you aren’t actually required to live there and you can choose to rent out your purchased property if you like.

If you do settle in Greece, you can apply for citizenship once you’ve lived there for seven years. Or, you can simply renew your residency permit.

How much does it cost to buy property in Greece?

The cost of property in Greece is largely dependent on the type of property and where you’re looking to buy.

Corfu is a very popular destination for UK expats, the island of Corfu has a UNESCO heritage old town, beautiful sandy bays and lively tourist areas.

Let’s take a look at average prices for apartments and homes in Corfu - the cost of an apartment is €100,000–200,000 but could be more in Corfu Town. The cost of a detached house is €300,000+ with villas in the popular NE coast (nick named Kensington-on-Sea) being sold in the millions.