Why Property Valuation Matters for Foreign Buyers in Greece

Thinking about buying property in Greece? Understanding how property valuation works is the first step toward making a safe and smart investment. Property values can vary widely across Greece, especially in popular areas like Corfu, Athens, and the Greek islands. For foreign buyers, knowing the basics of property valuation, the process, and legal requirements will help avoid costly mistakes and ensure you pay a fair price.

This guide explains how property valuation in Greece works, what foreign buyers should know, common questions, and how to get expert support every step of the way.

Table of Contents

1. What is Property Valuation in Greece?

2. Why Accurate Property Valuation Is Essential for Foreign Buyers

3. Key Factors That Affect Property Value in Greece

4. How Greek Property Valuation Works: Step-by-Step

5. Who Can Conduct a Property Valuation in Greece?

6. Valuation Tips for Foreign Buyers

7. Legal Considerations for Property Valuation in Greece

8. Common Questions About Property Valuation

9. Useful Resources for Buyers

10. Next Steps

1. What is Property Valuation in Greece?

Property valuation in Greece is the process of determining the true market value of a home, apartment, villa, or land. It’s not just about the listing price—a professional valuation considers the property’s size, location, condition, legal status, and recent sales in the area.
For foreign buyers, this independent value check is crucial to avoid overpaying or buying a property with hidden issues.

2. Why Accurate Property Valuation Is Essential for Foreign Buyers

Getting the right valuation protects your investment and helps with:

• Negotiating a fair price

• Avoiding overpaying for an overpriced home

• Securing financing from Greek banks

• Satisfying legal requirements for property transfer and taxation

• Planning for future resale or rental income

With rising demand from overseas buyers, especially in hotspots like Corfu and Santorini, the risk of inflated asking prices has increased. Working with a trusted local agency, such as Chase Real Estate Corfu, ensures you get expert guidance and up-to-date market data.

3. Key Factors That Affect Property Value in Greece

Several factors play a role in Greek property valuations. These include:

• Location: Properties in prime tourist areas, near the sea, or with scenic views are worth more.

• Property Type and Size: Villas, apartments, and land plots are valued differently.

• Condition: Modern, renovated, or well-maintained homes have higher values.

• Legal Status: Properties with clear titles, no disputes, and up-to-date permits are more attractive.

• Amenities: Features like pools, gardens, parking, and proximity to services matter.

• Market Trends: Recent sales and demand in the local area set the benchmark.

4. How Greek Property Valuation Works: Step-by-Step

Step 1: Initial Assessment

• Review the property’s documents, title deeds, and permits.

• Inspect the location, access, and neighbourhood.

Step 2: Physical Inspection

• Measure size, check layout, condition, and any recent upgrades or repairs.

• Note unique features, view, or extras.

Step 3: Market Comparison

• Compare the property with similar recent sales in the same area.

• Adjust the valuation for differences in features or location.

Step 4: Final Valuation Report

• The valuer provides a written report with the estimated value, supporting data, and notes on the property’s strengths or risks.

For buyers, this report can support negotiations or be used when applying for a mortgage in Greece.

5. Who Can Conduct a Property Valuation in Greece?

Official property valuations in Greece are typically carried out by:

• Licensed real estate agents

• Independent property valuers

• Chartered surveyors

• Bank-appointed appraisers (for mortgages)

For overseas buyers, using an independent local expert—such as Chase Real Estate Corfu—helps ensure unbiased advice.

6. Valuation Tips for Foreign Buyers

• Always get an independent valuation: Don’t rely only on the seller’s price.

• Work with a local expert: Local agents understand the true value drivers in different areas.

• Request a full inspection: Get a detailed report on condition, legal status, and market trends.

• Check for debts or disputes: Make sure the property has a clean legal history.

• Compare multiple properties: Get a sense of value by looking at similar homes in your preferred location.

• Use valuation for negotiations: A professional report gives you leverage to negotiate.

7. Legal Considerations for Property Valuation in Greece

Legal aspects are especially important for foreign buyers. Here’s what you should know:

• Legal Due Diligence: Before buying, check the title deeds, building permits, and ensure there are no outstanding debts or legal disputes.

• Tax Value vs. Market Value: The Greek government assigns an “objective value” for tax purposes, which may differ from market value. Buyers pay transfer tax based on the higher value.

• Foreign Ownership Rules: Some border or island areas have restrictions for non-EU buyers. Make sure your chosen property is eligible.

For legal support, consult the Chase Real Estate Corfu Guide.

8. Common Questions About Property Valuation in Greece

Q: Can foreigners get a mortgage based on property valuation in Greece?
A: Yes, but Greek banks require a certified valuation and proof of income. Foreign buyers should allow extra time for processing.

Q: How much does a property valuation cost in Greece?
A: Fees vary, but independent valuations usually range from €300 to €800, depending on property type and complexity.

Q: Is the seller’s price negotiable?
A: Yes. A professional valuation helps you make an informed offer and negotiate better terms.

Q: Do I need a lawyer for property valuation?
A: It’s wise to involve a lawyer, especially for due diligence and legal document checks.

Q: How do I check if the valuation is accurate?
A: Get a second opinion or ask for a comparison of recent local sales.

9. Next Steps

Ready to buy property in Greece?
Start by speaking with a local expert. Get an independent property valuation to protect your investment and ensure a smooth purchase. Whether you’re looking for a holiday home, permanent residence, or investment property, taking the right steps now saves time and money later.

Visit Chase Real Estate Corfu for expert help with buying, valuing, or selling Greek property.

Final Thought:
Property valuation in Greece is a must for any foreign buyer. It protects your investment and gives you peace of mind. Work with trusted professionals for the best results and a safe, transparent buying process.