Buying property in Lasithi as a foreigner: Complete UK guide (2026)

Thinking about buying a holiday home in the gorgeously green region of Lasithi, Crete? The easternmost part of Greece’s largest island is famed for its natural beauty, with stunning rural charm and laid-back pace of life.

It’s easy to see why it's popular with tourists and second-home-buyers alike.

If you’re interested in snapping up your own slice of paradise, read on for a practical guide to buying property in Lasithi as a foreigner. This includes info on mortgages, property prices, pitfalls to avoid and where to start your search.

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Table of contents

Can UK foreigners buy property in Lasithi? What’s the real estate market like in Lasithi? How to search for a property in Lasithi How to buy property in Lasithi as a foreigner - a step-by-step guide Fees and costs of buying property in Lasithi Taxes and fees for owning property Loans and mortgages for non-residents Risks and pitfalls of buying property in Lasithi Moving into your property in Lasithi Save on currency conversion fees with Wise when buying property in Lasithi, Greece Key takeaways

Can UK foreigners buy property in Lasithi?

Yes, UK nationals and other foreign nationals can freely buy property in Lasithi and the rest of Crete, without any restrictions.¹ This is one of the reasons it's such a good place to buy property.

However, you might find the process a little more complicated if you’re not an EU resident.

For example, you’ll need a Greek Tax Number (AFM). A Greek bank account may be helpful for payments and ongoing bills, but whether it’s required for the purchase itself can vary (confirm with your solicitor). You may also face restrictions on how much you can lend from a Greek bank or mortgage provider.

📚 Read more: Selling property abroad and bringing money to the UK

What’s the real estate market like in Lasithi?

The property market in Crete seems to have recovered well after the COVID-19 pandemic, and prices have been on an upward trend - rising around 5% to 8% per year.²

In general, house prices in Crete tend to be cheaper than on other Greek islands such as the Cyclades.

The area of Lasithi is particularly affordable, with average prices between €2,000 and €2,500 EUR per square metre, compared to €4,000 EUR in Chania.²

However, luxury villas in Lasithi do typically come at a premium - with average prices around €5,000 EUR per square metre.² And you can expect to pay even more in sought-after areas like Elounda.

As a prospective buyer, you may not need to spend as much to secure your dream home. Plus, you may look forward to its value rising over time, if the current price trends continue.

The only thing to keep an eye on is Crete’s growing popularity with foreign buyers - this may drive up competition for the best properties.

Is property a good investment in Lasithi?

Keen to invest in property abroad, but not sure if Lasithi is the best place to do it? Here are a few of the pros and cons to consider:

Pros:

• Strong capital growth potential - Crete has seen healthy annual price rises over the last few years, and the real estate market there is still growing
• Great rental opportunities - demand for rentals and holiday lets is high in Lasithi, especially during peak tourist seasons. On the island in general, rental yields are a healthy 5% to 7% on average.³
• Foreigner-friendly - there are minimal restrictions on foreign nationals or non-residents buying property in Lasithi.
• Option to gain residency through Greece’s Golden Visa programme.

Cons:

• Tourism dependent - whether or not the property and rentals market on Crete remains so healthy depends heavily on the island’s popularity as a tourist destination. It can also mean much lower or no rental returns out of season, where in Lasithi in particular it tends to be very quiet
• Remoteness - some parts of Lasithi are a long drive from major airports, which can make access difficult both for tourists and if you’re considering living there
• Mortgage conditions may be stricter and harder to meet for foreign applicants, and you may need a larger deposit.

📚 Read more: Cost of Living in Greece

How much are the property prices?

So, how much is property in Lasithi? This is an essential thing to know as you set your budget and start your search.

Ultimately, it depends very much on what and where you buy.

On average, prices for property in Lasithi are around €2,000 to €2,500 EUR per square metre. But if you want to buy a luxury village, you could be looking at upwards of €5,000 EUR per square meter.²

And if you’re arranging your property purchase from the UK, you’ll need a reliable and preferably low-cost way to send over fees, deposits and other payments.

The Wise account could be a great solution, with transparent, low fees, and multiple layers of security, so you can safely transfer large amounts both in the UK and overseas.

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Best places to buy property in Lasithi

The best place to buy property in Lasithi all depends on why you’re buying.

If you have the budget, the upscale coastal town of Elounda - famed for its luxury resorts and stunning blue waters - is ideal for a second home or a holiday let.

Many expats and property investors also love Agios Nikolaos, a picturesque coastal town and popular tourist destination.

Another sought-after spot is Sissi, which boasts high-end properties as well as some older homes. These tend to be more affordable than nearby areas, but you’ll need to budget for renovation costs.

If you’re house hunting on a budget, the best places in Lasithi to try are Sitia, the rural areas surrounding Neapoli, and traditional inland villages dotted around the district.

How to search for a property in Lasithi

If you’re new to the Greek property market, it could be worth using a specialist real estate agent to help you find the right property.

This can be particularly useful if you’re moving to Greece from the UK and aren’t familiar with how the real estate market works there.

An agent will have knowledge of the local market, and can walk you through the process of buying a property. This service is likely to come with a fee, however.

You can also start the search online yourself, using one of these popular Greek property websites and portals:

• Spitogatos
• Hellenic Realty
• Tospitimou
• XE.gr
• Your Home on Crete

📚 Read more: Buying property in Greece: Guide for UK Buyers

What to check before you buy

Before buying a property in Lasithi, there are a few key things to check. These include:

• Verifying that the seller has the legal right to sell the property - your solicitor can help with this.
• Checking short-term rental laws and restrictions (if you plan to let the property) - new rules introduced by the Greek government in October 2025 require properties to meet stricter safety standards, as well as licensing and registration requirements. The penalties for non-compliance are high.
• For rural or historic properties, getting a building survey carried out. Many older homes in Crete may not have had sufficient maintenance or modernisation over the years, which could mean lots of extra costs for you.

How to buy property in Lasithi as a foreigner - a step-by-step guide

Now, let’s run through the steps involved in buying property in Lasithi as a foreigner:

1. Get your finances in order

Before you do anything, it’s a good idea to get your finances sorted. This means setting a budget, getting a mortgage offer (approval in principle) and getting all your paperwork together.

2. Get your Greek tax number (AFM)

Foreign nationals need a Greek tax number called an AFM to buy and sell property in Greece.

You can apply for your AFM at the local tax office with your passport and a completed application form. You’ll also need to open a Greek bank account.

3. Find a property and arrange viewings

Now it’s time to start searching for your dream home. You can use online property portals and/or local estate agents to find properties. If you’re using an agent, make sure they’re registered with the Hellenic Association of Realtors (HAR).

If you’ve found somewhere you like, arrange a viewing as soon as you can, and start researching the area in the meantime.

4. Make an offer

The next important step is to submit a competitive offer to the estate agent, or to the buyer directly. You can negotiate, just like in other countries.

5. Appoint a solicitor and carry out due diligence

While it’s not mandatory, it’s strongly recommended to find and appoint a lawyer experienced in Greek property law.

They will check over and translate all documents and contracts, as well as carrying out due diligence on the transaction. This includes conducting a thorough title search at the Land Registry or Cadastre.

A personal recommendation is a good way to find a solicitor, but you can also find a list of English-speaking property solicitors on the UK Government website.

6. Get a survey

A building survey isn’t mandatory, but it could help to flag up any serious issues early on.

If the technical report flags anything up, you may be able to go back to the seller to negotiate on price, or arrange to have issues rectified before the sale completes.

7. Sign the preliminary contract and pay the deposit

If your offer is accepted and you’re ready to proceed, it’s time to sign the preliminary contract.

It expresses your commitment to buying the property, and sets out the terms of the transaction.

You’ll also need to arrange a transfer to pay the deposit, which in Crete (and Greece in general) is usually around 10%.¹

Consider using the Wise account here to convert your pounds to euros, avoiding hidden fees and getting the mid-market exchange rate.

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8. Appoint a notary

A notary is a key part in property purchases in Greece. They are a public officer who ensures that the transaction, documents, contracts and processes are carried out in line with the law.

You can learn more about finding a notary through the Hellenic Notary Association website - your solicitor may also be able to point you in the right direction.

9. Completion

This is the final crucial step, involving the following actions:

• Signing the deed of sale and the final sales contract
• Transferring money to pay the final balance
• Registering the property title in your name
• Getting the keys to your new home.

All of the main steps will need to be done in person at the notary’s office, and it’s crucial to have your solicitor there as it may be conducted in Greek (including documentation).

📚 Read more: How to transfer money from the UK to buy property overseas

How long does it take to buy a property?

Buying property in Lasithi typically takes around 4 to 6 weeks,¹ although it can potentially take longer for more complex transactions or if there are any delays with mortgage financing.

Fees and costs of buying property in Lasithi

Here are the main fees and taxes for buying property in Lasithi, which you’ll need to factor into your budget:⁴

Fee/tax	Amount
Stamp duty	3% for new builds 3% to 24% for resale properties
VAT (FPA) - new builds only	24%
Registration fees (land registry)	0.5% to 1%
Legal fees	Around 1%
Notary fees	0.5% to 1%

You may also have to pay the following:

• Mortgage fees - including valuation and arrangement fees
• Building survey/technical report fees
• Estate agent fees - if using an agent to find a property

Fees for these services can vary, so you’ll need to do some research, get quotes and factor them into your overall budget.

Taxes and fees for owning property

Once you’ve bought your Lasithi property and paid those initial costs, you’ll also have some ongoing Greek property taxes to cover.

The main one is an annual property tax called ENFIA, which is calculated based on the location, size, use, age and other factors relating to the specific property.

In Crete, the rates for most holiday homes are typically around €3 to €4 EUR per square metre. So for a house of around 100 square metres, you can expect to pay around €300 to €400 EUR a year in property taxes.⁵

If you rent out the property, you may also pay personal income tax as a landlord.

Loans and mortgages for non-residents

Banks in Greece do offer mortgages to foreign nationals and non-residents. However, bear in mind that foreign buyers tend to face stricter lending criteria, and the application process can be more complex.

You may also find that you can’t borrow as much as local residents, with typical loan-to-value (LTV) ratios for foreign applicants being around 70%. And if you’re a non-resident, you may be limited to mortgages with higher interest rates, unlike for Greek residents.⁴

So, you'll need a larger deposit, along with lots of documentation (translated into Greek) to prove you’re a good candidate for a loan.

Risks and pitfalls of buying property in Lasithi

One of the main things to watch out for when buying or selling property abroad are scams.

To avoid these, it’s strongly recommended to work with qualified and credible professionals such as real estate agents and solicitors.

Ideally, you should also check for membership of a professional body when working with any property experts, brokers or agents.

In Greece, it’s best to use an estate agent who is licensed and registered with the Hellenic Association of Realtors (HAR).

Other important things to remember include the following:

• Be cautious and do your homework before sending money or a deposit
• Hire a solicitor and do as much due diligence as possible - including ensuring that the seller has the legal right to sell the property.
• If you’re buying a property to rent out - check the new rules and restrictions for short-term lets. You should also look at rental demand around the year, as Lasithi can become very quiet outside of the peak tourist season.
• Visit the property in person - don’t rely on online listings alone, and make sure to verify all the claims in the property description
• Get an inspection/survey carried out if you have any concerns about the property.

Moving into your property in Lasithi

Before you can get the keys to your new home, you’ll have a final few tasks to check off your list.

Insurance

It’s strongly recommended to take out a buildings insurance policy starting from your completion date. In fact, you might find it's a mandatory condition of your mortgage offer.

Setting up utilities

If you know when your completion date will be, it makes sense to get some essentials set up in advance of moving in.

A prime example is utilities, such as heating, power and water. Get these sorted as early as you can, and the moving process should be a little smoother.

Energy efficiency renovations

If you’ve bought an older or historic property in Lasithi, you might want to make some energy efficiency improvements to it. For example, upgrading the air conditioning system or replacing the windows.

Save on currency conversion fees with Wise when buying property in Lasithi, Greece

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Key takeaways

• UK nationals can freely purchase property in Lasithi without nationality-based restrictions, though non-EU residents must obtain a Greek tax number (AFM) and open a local bank account.
• Average property prices in Lasithi range from €2,000 to €2,500 per square metre, making it significantly more affordable than other Cretan regions like Chania.
• The region offers healthy rental yields of 5% to 7% and steady capital growth, with the added benefit of eligibility for Greece’s Golden Visa residency programme.
• Buying involves a structured multi-step process, including a 10% deposit and a title search, that culminates in a final deed signed before a public notary.
• Buyers should factor in a 3% transfer tax (plus 24% VAT for new builds) and an annual property tax (ENFIA) of roughly €300 to €400 for a standard 100-square-metre home.

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sources used:

1. Kritiko Ethos Estates - Buying property in Crete
2. Green Acres - Real estate market in Crete: news, prices and trends
3. Benoit Properties - Why Foreign Investors Are Targeting Crete’s Coastal Real Estate
4. Properstar - Buying property in Greece as a foreigner: 2025 guide
5. Crete Properties For You - The process of buying a property in Crete, Greece

Sources last checked 29-Jan-2026