Canadians can buy property in Greece as non-residents
Mortgage availability exists, but financing is more selective than in Western Europe
Typical deposit: 30–50% for non-residents
Mortgage terms usually range 10–25 years
Fixed and variable rates may be available depending on lender
An Agreement in Principle (AIP) is strongly recommended before property search
Greece offers strong lifestyle appeal and tourism-driven rental demand
Greece has become increasingly attractive to Canadians due to:
World-class coastline and islands
Strong tourism demand
Competitive property prices compared to Western Europe
Growing interest from international buyers
Long-term lifestyle and retirement appeal
For many buyers, Greece combines affordable entry points with high-use lifestyle value, particularly for vacation homes and short-term rentals.
Rental yields: Commonly 4–7% gross, higher in tourist-heavy locations
Demand drivers: Tourism, short-term rentals, lifestyle migration
Market profile: Recovery-driven growth with increasing foreign buyer demand
Liquidity: Strong in Athens, popular islands, and coastal regions
Greece’s property market rewards buyers who choose prime locations and plan for long-term ownership.
Yes — but Greece is a more conservative lending environment for non-residents compared to Spain, Portugal, or France.
| Criteria | What to Expect |
|---|---|
| Loan-to-Value (LTV) | 50–60% |
| Deposit | 30–50% |
| Loan Term | Up to 20–25 years |
| Currency | Euro (EUR) |
| Rates | Fixed or variable (lender-dependent) |
| Debt Ratios | ~30–35% of income |
📌 Some buyers choose to combine cash + partial financing to improve approval odds.
Greek lenders typically require:
Government-issued ID (passport)
Proof of income (employment contracts, payslips, or tax returns)
Bank statements
Credit profile documentation
Proof of deposit source
Property details (purchase contract, valuation, intended use)
You will also need a Greek Tax Number (AFM) to purchase property and complete financing.
No.
Most Canadian buyers are advised to secure financing guidance or an AIP before selecting a property.
Financing is more selective
Sellers prefer financially prepared buyers
Reduces risk of delays during closing
👉 Start with an Agreement in Principle
Fixed-rate mortgages: Available with select lenders
Variable-rate mortgages: Typically linked to Euro benchmarks
Hybrid structures: Occasionally offered
Because lending criteria vary widely, rate structure and approval depend heavily on borrower profile.
Citadel Mortgages helps Canadians navigate lender expectations before committing.
Location selection is critical in Greece for both financing and rental performance.
Best for
Long-term rentals
First-time overseas buyers
Why Athens
Capital city with strong rental demand
Better lender appetite than island markets
Growing international interest
Mortgage reality
Most lender-friendly market in Greece
Stronger valuations than rural areas
Best for
Luxury vacation rentals
High nightly rates
Why These Islands
Global tourism appeal
Limited supply
Strong seasonal income
Mortgage reality
Higher deposits required
Conservative valuations
Best for
Lifestyle buyers
Long-term rentals
Why Crete
Lower entry prices
Year-round population
Growing tourism
Mortgage reality
Financing possible but selective
Property quality is critical
Best for
Retirement
Budget-conscious buyers
Why Peloponnese
Affordable coastal properties
Growing international interest
Mortgage reality
Fewer lenders
Strong borrower profile required
Best for
Seasonal rentals
Vacation homes
Why These Islands
Established tourism markets
Strong summer demand
Mortgage reality
Seasonal income closely reviewed
Financing possible with higher deposits
It can be — depending on your goals.
Lifestyle diversification
Rental income
Long-term appreciation
Retirement planning
Currency fluctuations
Local tax rules
Legal differences
Property management challenges
Citadel Mortgages helps you evaluate risk vs reward before you commit.
We provide dedicated mortgage solutions for:
🇪🇸 Spain
🇫🇷 France
🇵🇹 Portugal
🇦🇪 United Arab Emirates
🇮🇹 Italy
🇬🇧 United Kingdom
🇬🇷 Greece
🇦🇺 Australia
Learn more about overseas mortgages for Canadians.
👉 Each country has its own dedicated page with:
Local requirements
Typical deposits
Country-specific taxes
Lending structures
Yes — but lending is more selective for non-residents.
Typically 30–50% for non-residents.
Yes — most lenders require 2–3 years of financials.
Usually yes, subject to lender penalties.
Yes — lenders offer second-home and investment products.
Yes, you can apply for your mortgage entirely remotely using our partner.
If you move abroad but still own property in the country your mortgage is based in, you’ll generally still need to continue making payments. Some lenders might let you switch to a different mortgage product or give permission to rent out the property. Make sure you communicate with your lender about any changes to your residency status.
No — deposits must come from verified funds.
Yes, but rules vary by region and municipality.
No, but you must obtain a Greek AFM tax number.
Yes. Urban markets like Athens are more lender-friendly.
“Greece offers compelling lifestyle and rental opportunities, but mortgage approval depends heavily on location and preparation. Urban markets like Athens are far more lender-friendly than island properties. Buyers who secure financing guidance early and choose prime locations dramatically improve approval odds.”
— Citadel Mortgages International Financing Team
✔ Access to Greek and international lenders
✔ Non-resident mortgage expertise
✔ Strategic guidance on deposit and approval expectations
✔ Agreement in Principle before property search
✔ Canadian guidance with European execution
✔ Trusted international mortgage platform (powered by Upscore)
Whether you’re buying a vacation home, rental property, or long-term residence, Citadel Mortgages helps Canadians finance property in Greece with clarity and confidence.
👉 Check My Greece Overseas Mortgage Repayment Calculator
👉 Apply for an Greece Overseas Mortgage