Buy a Property in Corfu: Steps for International Buyers
Apr 29, 2026
Corfu is stunning. It's all genuine-the sea is stunning, real, and the villages are older than your television. Purchasing here can be like a dream. However, it is still a moneymaking business. This manual is meant for foreign purchasers seeking a clear understanding of things. Not a word of fluff. No frightening legalese. Just the steps, the facts, and the clever advice.
Corfu accepts visitors without needing a bad reason. It has the beauty of the Ionian Sea, and it's fairly easy to get to Europe compared to most of the Greek Islands.. It is popular among those who purchase holiday homes and also long-term investors. The prices have increased over the past few years, but rates are decelerating; thus, it is crucial to know the market.
Here is a simple stepwise booklet of the process of your initial search to possessing keys. I will also mention taxes, costs, how to acquire residency, and pitfalls. I will take recent market facts so that you can make sound judgments.
Quick Snapshot: Why Corfu Now?
Foreign investors have been continually buying properties in Corfu for quite a while now. The demand increased after the pandemic as people were seeking more space, a beautiful sea view, and a peaceful lifestyle. Property prices rose dramatically in 2023-24 and are still increasing in 2025, albeit at a slower rate than previously. The same national tendency is evident in Corfu, where those looking to buy property will find prime coastal and town homes priced substantially higher per square meter than rural village houses.
If you want a sea-view villa in Kassiopi or a renovated stone house inland, expect different markets. Luxury estates sell at multi-million euro levels, while remodel projects in rural areas can be far cheaper. Recent listings in Corfu range widely from modest village houses to high-end waterfront estates.
Decide Your Objective and Budget
Question: Do you want an investment in a holiday home, a rental investment, a retirement destination, or a residency visa such as a Golden Visa? The decision that you make will determine where, what size, what legal checks you will require, and what tax you will pay.
Set a realistic total budget. Remember, the purchase price plus approximately 10–12% of additional costs (taxes, legal fees, notary, registration, agent fees, and minor works). That buffer is typical for Greece and helps avoid nasty surprises.
Research the Market (do it properly)
Initial review of the local recent listings and reports on the island. The prices per square meter vary significantly in Corfu. The cost of Corfu Town and high-season resorts is higher, with many charging several thousand euros per square meter. The rural regions tend to be less expensive. Add local real estate agents and national market reports to have a realistic estimate.
Look for these red flags in listings:- No clear title or “to be transferred” notes.
- Vague boundaries on land plots.
- Unexplained price drops or years on market.
Find a Trusted Local Team
You’ll need:- A bilingual real-estate agent who knows Corfu.
- A Greek lawyer (solicitor) experienced in property law.
- A chartered surveyor or architect for technical checks.
- A notary (for the deed signing; they’re impartial public officers).
Do not skip the lawyer. They check title deeds, encumbrances, building permits, and cadastral registration. Ask for references and sample reports. The lawyer should explain the Objective Value (tax base) and any municipal constraints.
Get Your Greek Tax Number (AFM) and Open a Bank Account
Non-resident buyers must obtain an AFM (Greek tax ID). Your lawyer can often arrange this. Many transactions also require a local bank account, useful for paying deposits, taxes, and utilities. Carry a passport, proof of address, and your lawyer’s details when applying.
Viewings, Shortlist and Due Diligence
Visit in person if possible. Corfu’s micro-markets differ by bay, village, and road access. Shortlist properties and then commission:
- A full title search (via your lawyer).
- Technical survey (check foundations, roof, drainage).
- Planning compliance check (is the property correctly permitted?).
If the property is advertised as “renovation needed”, make sure planning approvals are possible — some areas have strict rules for heritage or coastal protection.
Reservation Agreement and Deposit
When you pick a property, you usually sign a reservation (or preliminary) agreement and pay a deposit (often 5–10% of the sale price). That reserves the property and starts the legal process. Ensure the agreement includes:
- A clear payment schedule.
- Conditions for refund if problems appear in due diligence.
- A deadline for the final contract.
The final contract, taxes and notary
The transfer is made by drawing up a notarial deed. Your lawyer prepares the final draft, and the notary executes it. Key costs to expect:
- Transfer tax (around 3.09% for resale properties calculated on either the sale price or the Objective Value, whichever is higher).
- Notary fees (roughly 1–2% depending on value).
- Lawyer’s fees (commonly 1–2%).
- Land registry / cadastral registration costs (small percentage).
Budget roughly 10–12% in additional purchase costs overall. Your lawyer will calculate exact figures early in the process.
Registration and Utilities
Once the deed is signed and taxes are paid, register the property with the Land Registry (or Cadastre). If meters need transferring (water, electricity), apply to the providers. For rental use, obtain any necessary municipal licenses; your lawyer or agent can handle this.
Residency Options (Golden Visa and alternatives)
If residency interests you, Greece offers residency by investment (commonly known as the Golden Visa). The classic route is a property purchase above a threshold. In recent times, minimum amounts and rules have changed. The common limit was also in most places, €250,000, but new policies, optional limits and exemptions are introduced. You should never act without first consulting the existing rules.
Important: policy changes happen. Don’t assume a past rule still applies; confirm the up-to-date threshold through official channels or an immigration specialist.
Financing and Mortgages
Yes, foreigners are allowed to get mortgages in Greece. However, banks usually have stricter lending requirements and may ask for bigger down payments (in most cases, 30-40% and even more). The interest rates as well as the mortgage terms are not fixed and depend on which local bank in Greece or international lender you choose. In case you consider getting a loan, it is better to have a pre-approval or a conditional offer before you make a binding purchase. This way, you will be able to avoid breaking up awkwardly.
Market Research & Trends You Should Know (short, sharp data)
- Nationwide growth, slower pace: Greece’s dwelling price index rose in recent years (double digits in some years), but growth rates slowed into 2025, with BoG data showing moderate year-on-year increases. That means buyers still face rising markets, but the acceleration seen previously is easing.
- Island premium: Corfu performs above many interior regions for prices per square metre, especially in Corfu Town and prime coastal villages. Expect a premium for sea views and renovated heritage properties.
- Luxury and renovation markets both active: There’s demand at both ends, luxury estates trade for millions, while traditional stone houses in villages attract buyers looking to renovate. Recent high-profile listings in Corfu show sales across that spectrum.
- Costs matter: Plan for ~10–12% extra on top of purchase price to cover taxes, fees and registration. Factor ongoing property taxes and local municipal levies into holding costs.
Common Pitfalls — and How to Avoid Them
- Poor due diligence: Don’t rely only on the seller’s word. Get independent title and technical checks.
- Objective Value surprises: Greek tax authorities may use an Objective Value higher than the sale price for transfer tax calculations. Your lawyer will advise early.
- Unclear access or boundaries: Make sure road access and land boundaries are recorded.
- Assuming quick residency: Residency rules change. Never buy purely for a visa without expert legal confirmation.
Practical Tips from Buyers Who Succeeded
- Use a local lawyer recommended by someone you trust. Personal referrals beat web directories.
- Visit in different seasons. Corfu in August and November are very different.
- Budget for renovation reality old houses charm, but plumbing and wiring often need full replacement.
- Build a local network. Neighbours, notaries and municipal staff will make a big difference.
Running an Income Property (short guide)
If you intend to rent (holiday lets):- Get the proper city permits and file the property for tax purposes.
- Short-term rentals may bring good profits during the peak months; however, off-season returns are low.
- Think of hiring a professional local management company that will take care of the bookings, cleaning, and maintenance.
- Include income tax and VAT if they are applicable; a Greek tax advisor will help you with the exact tax obligations.
Final Thoughts
- AFM and bank account in place.
- Lawyer’s title search completed.
- Technical survey completed.
- Written sale agreement with payment schedule.
- Clear plan for taxes and transfer fees.
- If relying on a visa/residency, confirmation from an immigration advisor is required.
- Budget for immediate repairs and registration fees.
