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

Buying a property in Santorini appeals to many UK buyers because of the island’s strong tourism and international reputation. This beautiful island also offers some of the most distinctive real estate in Greece, from traditional cave houses carved into the rock to luxury villas overlooking the caldera.

That being said, buying property in Santorini as a foreigner is very different from buying in the UK. The local market is tightly regulated, and supply is limited. On top of that, UK buyers must deal with different taxes and fees, and cross-border transactions.

We’re here to help, with a practical guide to buying property in Santorini as a foreigner. We’ll cover who can buy, what the local market is like, typical prices, the general buying process, fees, taxes and the key risks to be aware of.

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Table of contents

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

Can foreigners buy property in Santorini?

Yes, UK citizens can buy property in Santorini. Greece doesn’t restrict foreign ownership of residential property, and this applies to non-EU nationals too. This is one of the reasons it's such a good place to buy property.

Despite this, many properties in Santorini are subject to special planning, environmental and archaeological protection. These restrictions don’t prevent foreign ownership, but they can limit what you’re allowed to build, renovate or extend.

Buying a property in Greece also doesn’t automatically give you the right to live in the country long-term.¹ Instead, residency and property ownership are treated separately, although some buyers may qualify for residency through investment schemes depending on the value and location of the property.

What’s the real estate market like in Santorini?

Santorini is small and land supply is limited. What’s more, much of it is protected from development. This, combined with year-round international demand, means prices are high compared to most other Greek islands.

There are also strict building density rules and height restrictions, which are designed to preserve the island’s character. Large-scale residential developments are rare here, which further impacts supply.

Another important factor is the island’s tourism. Demand for properties with short-term rental potential can fluctuate depending on changes to tourism regulations, licensing and local enforcement. Those properties that already have the correct registration in place are often able to command a premium as new tourism licences may be restricted in certain zones.

As a whole, property transaction volumes are typically low in Santorini compared to mainland cities. This can make pricing less transparent and valuations more subjective. This is why it’s so important to obtain comparable sales data and professional advice if you’re thinking about investing here.

Is buying property in Santorini a good investment?

Santorini property investment comes with both advantages and disadvantages. Here are some of the key things to consider before making a property purchase on the island:

Pros:

• Strong international demand
• High visibility as a luxury tourism destination
• Potential for premium short-term rental income
• Limited supply supports long-term values
• Option to gain residency through Greece’s Golden Visa programme.

Cons:

• High purchase prices and entry costs
• Strict planning and renovation restrictions
• Short-term rental regulations can change
• High competition for prime properties.

How much are the property prices?

As one of the most expensive residential markets in Greece, prices vary significantly depending on locations, amenities and views. Not to mention, licensing potential.

However, recent figures show that the average price asked for a residential property in Santorini was 4,911 EUR per square metre.²

Luxury villas and renovated cave houses can often reach several million euros while smaller apartments and renovation projects may offer more accessible price points.

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 Santorini

Popular areas to buy property on Santorini include:

• Oia – premium prices and a strong tourism appeal
• Fira – a central location with a mix of residential and rental properties
• Imerovigli – quieter, offering high-end properties with views
• Pyrgos – a more traditional village and relatively better value
• Kamari and Perissa – beachside areas with broader price ranges.

It’s worth noting that each area comes with its own price, rental demand and lifestyle.

How to search for a property in Santorini

Properties in Santorini can sell quickly, but especially those with sea views or tourism licenses. Many listings are in Greek and not all properties are advertised publicly.

For this reason, most UK buyers use local estate agents, international agencies with Greek offices and online property portals.

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.

It’s common for desirable properties to be sold off-market so relying solely on online portals may not give you the best picture of what’s available. This is where building relationships with reputable local agents can help.

While not necessary, visiting the island in person can be a good idea and any viewing should be approached carefully. Consider access roads, parking, seasonal noise and proximity to tourist foot traffic. This might not be obvious during a short visit but could significantly affect your property’s appeal and later value.

What to check before you buy

Due diligence is essential in Santorini. Before committing to a purchase, you should check:

• That the property is legally registered
• Zoning and planning status
• Any unauthorised extensions
• Access rights and boundaries
• Whether short-term rentals are permitted
• Structural conditions and seismic compliance.

It’s often advised that you get a technical survey by a local engineer, especially if you’re looking to purchase cave houses or hillside properties.

In Santorini, it’s important to confirm whether a property is classified as residential, touristic or mixed-use. This can not only affect taxation, but also whether the property can legally be rented on a short‑term basis..

Your lawyer should also verify that the property complies with local seismic regulations. Greece is a seismically active country, and older buildings may not meet current standards. While this doesn’t always prevent a sale, it may impact insurance availability and renovation costs.

Finally, consider access rights. Some traditional properties are reached via shared paths or stairways that cross neighbouring land. It’s important that these access arrangements are formally recorded in the title documents to avoid disputes later.

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

Here’s an overview of the steps you should take:

1. Set your budget - it should include the property purchase price, taxes, professional fees, any renovation costs and ongoing ownership expenses.
2. Appoint a Greek lawyer - a local lawyer will review contracts written in Greek, check title deeds and verify planning compliance.
3. Obtain a Greek tax number (ΑΦΜ)³ - an AFM tax number is required for all property transactions in Greece. You may also need to open a Greek bank account.
4. Find a property and make an offer - offers are usually negotiated via agents. Once agreed, terms are confirmed in writing.
5. Sign the preliminary agreement - the next stage is to sign the preliminary agreement. You’ll also need to arrange a transfer to pay the deposit.
6. The final contract is signed before a notary and registered with the Land Registry. You’ll need to transfer funds to pay the final balance, and then you’ll get the keys to your new property.

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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How long does it take to buy a property?

While this will depend on several factors, the process typically takes 8 to 12 weeks.⁴ Legal checks, availability of documents and mortgage approval (if applicable) are the biggest factors when it comes to timeline.

Fees and costs of buying property in Santorini

The below costs are purely an estimate and may vary depending on the specifics of the property and the location.⁵

Fee/tax	Typical amount
Property transfer tax	3%
VAT (new builds only)	24%
Legal fees	1.5%
Notary fees	1.5%
Estate agent fees	Min 2%

There are also ongoing costs and additional charges, which may include:

• Land registry fees
• ENFIA annual property tax
• Municipal fees
• Building maintenance charges
• Income tax on rental earnings.

📚 Read more: Cost of Living in Greece

Loans and mortgages for non-residents

While Greek banks do offer mortgages to non-residents, typical requirements include:

• 35 to 40% minimum deposit⁶
• Proof of overseas income
• Conservative affordability assessments.

Risks/pitfalls of buying property in Santorini

While buying property in Santorini can bring many benefits, there are also risks to consider:

• Buying properties with illegal extensions
• Underestimating renovation restrictions
• Assuming rental licensing is guaranteed
• Overpaying in competitive markets

Planning rules and the effect they have on future value are often underestimated too. For example, even if neighbouring land appears to be undeveloped, zoning rules may allow construction at a later date. This could impact views and privacy.

Currency risk is another important consideration. While property prices are set in euros, many UK buyers fund purchases using pounds. Exchange rate movements between offer and completion can affect total costs if it's not managed carefully.

Finally, the timelines for selling property in Santorini can be longer than expected, particularly for higher-priced properties. While demand is strong, the buyer pool is smaller, and realistic pricing is key when exiting the market.

📚 Read more: Selling property in Greece: A complete guide

Moving into your Santorini property

Insurance

Home insurance is strongly recommended and often required if you have a mortgage.

Setting up utilities

Utilities typically include:

• Electricity
• Water
• Internet and phone services
• Municipal charges

Energy efficiency renovations

Improving insulation and adding heating and cooling systems can reduce running costs. However, external changes may require permits, particularly in protected areas.

What’s more, if you plan to use the property seasonally, you’ll need to think about security and maintenance during periods of vacancy. Many owners arrange regular inspections or employ local property managers to check for this.

For rental properties, professional management can be essential. Cleaning, guest check-ins, licensing compliance and emergency maintenance are difficult to manage remotely. Factoring these costs into your financial planning can help avoid surprises later.

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

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Key takeaways

• Santorini offers unique property types like traditional cave houses and luxury caldera-view villas, but supply is tightly restricted by geographic size and strict building density rules.
• With an average residential asking price of 4,911 EUR per square metre, Santorini is one of the most expensive markets in Greece, often requiring several million euros for luxury renovated properties.
• Much of the island is subject to environmental and archaeological protections, which can limit your ability to build, renovate, or extend properties.
• It is essential to verify a property’s specific classification (residential vs. touristic) as this determines whether it can legally be used for short-term rentals.
• UK buyers must obtain a Greek tax number (AFM), typically pay a 35 - 40% deposit if using a Greek mortgage, and complete the sale via a notary in an 8-to-12-week timeline.

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Sources used:

1. Your Overseas Homes - Greek Residency
2. Property Guides - Santorini Prices
3. Elxis - Greek Tax Number
4. Loyal Group Realty - Moving Timeline
5. Houses in Greece - Investing in Property Fees
6. Global Mortgage Group - Non Resident Mortgages

Sources last checked on date: 29-Jan-2026