New buildings in Greece

New Builds in Greece: A Complete Guide to Off-Plan Investments

Purchasing an apartment in a new build in Greece means acquiring a modern asset directly from the developer, with a transparent history and long-term guarantees. Unlike the secondary market, where you might find a quick sale but face outdated utilities, a new build offers contemporary standards: Class 'A' energy efficiency, the use of high-quality materials, and compliance with strict seismic regulations. The climate and centuries-old traditions directly influence the architecture: projects feature large panoramic windows for maximum light and airflow, and spacious terraces or balconies become extensions of the living space. Construction is carried out by both major international operators (e.g., DKG Development, Lamda Development) and reliable local developers, who provide official warranties on structures and engineering systems for up to 10 years.

What Types of Apartments are Sold in Greek New Builds?

The choice of format depends on your goal. The most popular types for investment are studios (25-40 m²) and compact one-bedroom apartments (50-70 m²), which are in highest demand on the tourist and long-term rental markets. For family living or premium rentals, buyers look for spacious two- or three-bedroom apartments (80-120 m²), often with a walk-in closet and two bathrooms. The market also offers special formats: maisonettes (duplex apartments), ideal for creating separate zones; lofts with open layouts in renovated buildings; and penthouses with private terraces and panoramic views – the pinnacle of the premium segment. Key features of a quality new build include underground parking, an elevator, a secure gated area, and often a communal pool or sports facilities. In pursuit of energy efficiency and lower bills, modern Greek developers increasingly equip complexes with solar panels for water heating and partial power supply.

Why is Investing Profitable? Prices and Yield in Key Regions

Greece's investment appeal stems from three factors: accessible entry prices, high tourist traffic, and the "Golden Visa" program. On the mainland, in Athens, prices start from €3,500 per m² in developed suburbs like Glyfada, offering investors stable long-term rental yields of 4-5% per annum. In Thessaloniki, you can find options from €2,500 per m² with similar yields. On the Halkidiki peninsula (especially Kassandra and Sithonia), prices for seaside apartments start from €2,800 per m², with summer rental yields reaching 6-7%. Loutraki (Peloponnese) is ideal for a tranquil seaside life, where you can invest from €2,200 per m² with prospects for both seasonal and long-term rental. Elite destinations Santorini and Crete are a different story: prices here soar to €7,000-12,000 per m² and €2,500-4,000 per m² respectively, and investments are advisable for portfolio diversification.

Nuances for Foreign Buyers

Greece is highly open to foreign investment. Local banks do consider mortgage applications from non-residents, though under stricter conditions. The key document for purchase is a Greek Tax Identification Number (AFM), which our specialist can help you obtain remotely. To protect your interests, it is crucial to conduct an independent legal due diligence on the property and the developer's documents before signing the main contract.

How to Buy and What to Consider? Steps, Taxes, and Support

The purchase process is strictly regulated and maximally safe with professional support. After selecting a property, a preliminary sale agreement (Προσύμφωνο) is signed with a deposit (~10%). Before signing the main contract, a thorough legal due diligence is conducted: checking the developer's land rights, the presence of all permits (e.g., όγκου for construction), and the project's compliance with the urban plan. The main sale and purchase agreement is certified by a Greek notary, who confirms the legality of the transaction and registers it with the National Cadastre (Κτηματολόγιο). The buyer pays the Property Transfer Tax (ΦΠΑ) at a rate of 24% for primary residences (often included in the price), as well as notarial and registration fees (~1.5%). After registration, the annual Unified Property Tax (ENFIA) is levied. For non-EU residents, purchasing real estate valued at €500,000 or more (according to recent changes) grants the right to obtain a "Golden Visa" – a residence permit with the right to free movement within the Schengen Area.

Your Advantage: Access to Closed Offers and Guaranteed Value

The market price is just the starting point. Thanks to our direct contracts with leading developers, we provide clients with exclusive conditions that turn a purchase into a profitable investment from day one.

• Discounts up to 15% from the developer: Access to closed sales and partner loyalty programs. We save your money where others make a profit – on the property price.

• Legal risk insurance: Full audit of the project and developer's documents. We take responsibility for the transaction's cleanliness and the property's compliance with stated standards.

• Turnkey investment calculation: Not just selection, but a ready-made business case for each property: payback forecast, rental seasonality analysis, selection of a property management company.

• Support until results are delivered: From reservation at the foundation stage with a fixed price – to renting out your apartment and receiving the first payment. We are your operator at every stage.

Greece is not only history but also modern investments with transparent terms. Compare, calculate, and invest with an expert.