Mortgage in Greece for Israelis 2026: who lends, how much, rates and the alternative
You can get a Greek mortgage without living in Greece. How much banks lend, 2026 rates, documents, timelines, and when an all-purpose mortgage in Israel and a cash purchase is better.
- Greek banks such as Eurobank, Piraeus and Alpha Bank lend to Israelis too, usually up to 65–70% of the property's value.
- The average rate on a new Greek mortgage (fixed up to 5 years) fell to 2.95% in February 2026; non-residents usually pay more.
- You need a deposit of about 30–35%, plus about 6–9% in buying costs the bank does not finance.
If you want to buy in Greece with a loan, check financing before signing a preliminary contract. Compare a Greek bank mortgage with an all-purpose mortgage on an Israeli home, and factor in the 15% transfer tax planned from July 2027.
Can you get a mortgage in Greece without living there?
Yes. Greek banks lend to non-residents, including Israelis, if they pass the affordability check. The bank looks mainly at income, existing debts and the property's value, and does not require you to live in Greece. In practice the process is slower and the terms less favourable than for Greek residents.
According to the Bank of Greece, the mortgage market is growing again: since October 2025 new lending has exceeded repayments, and approval rates have recently been above 85% (as of April 2026).
Which Greek banks lend to non-residents?
Greece's four large banks are Piraeus Bank, National Bank of Greece (NBG), Eurobank and Alpha Bank. According to Your Overseas Home (updated October 2026), Eurobank, Piraeus and Alpha Bank are known to lend to overseas buyers. Piraeus also has a euro mortgage product for borrowers whose income is in another currency.
Policies vary between banks and over time, so approach several, or use a mortgage broker who works with non-residents.
How much will the bank lend? (LTV)
| Non-residents | Greek and EU residents | |
|---|---|---|
| Maximum loan | usually up to 65%, sometimes 70% | up to 70% or more, by bank |
| Deposit | about 30–35% of the price, plus buying costs | by bank |
| Term | 15–35 years, by bank | up to 30 years or more |
| Age | loan must end by the time the youngest borrower is 75 | same |
| Minimum loan | from €10,000 |
Source: Your Overseas Home, updated October 2026. Important: buying costs (about 6–9% of the price) are not financed and must be paid in cash.
Mortgage interest rates in Greece 2026
- Average: according to European Central Bank data, the average rate on new Greek mortgages fixed for up to 5 years fell to 2.95% in February 2026, below 3% for the first time since 2017. The euro-area average that month was 3.37%.
- Bank examples (Your Overseas Home, updated October 2026): Alpha Bank 2.70% fixed for the first year, then variable (about 4% at the time of writing, APRC 4.46%); Eurobank 2.90% fixed for the first three years.
- Variable rates in Greece are usually Euribor plus the bank's margin, so they move with ECB rates.
Your actual rate depends on the bank, the loan-to-value and your profile; for non-residents it is usually above the average.
Documents for a Greek mortgage
- Tax returns for the last two years (from Israel, translated)
- Proof of income for the last six months (payslips or accounts)
- Bank statements for the last year
- Details of existing loans and a list of assets and liabilities
- Passport copy
- Greek tax number (AFM) and a Greek bank account. Nothing starts without them. How to get an AFM and open a bank account
Hebrew documents need a Greek translation, sometimes with an apostille.
How long does it take?
There is no fixed timeline. For non-residents it usually takes longer than in Israel: account opening, affordability check, the bank's valuation, a legal check of the property, then final approval. So check financing before you sign a preliminary contract and pay a deposit, and add a clause that protects you if the loan is refused.
The alternative: an all-purpose mortgage on an Israeli home
Many Israelis skip a Greek mortgage and take an all-purpose mortgage (mashkanta le-chol matara) on a property they own in Israel, then buy in Greece in cash.
- Pros: a Hebrew-language process with a bank that knows you; paying cash gives negotiating power and a faster Greek deal.
- Cons: usually only a low share of the Israeli property's value (the Bank of Israel limits all-purpose loans, and the rules change from time to time); Israeli rates differ from Greek ones; you are exposed to the euro–shekel rate.
Which is cheaper depends on rates and the exchange rate at the time. Compare with an Israeli mortgage adviser before deciding.
Buying costs on top of the price
| Cost | How much |
|---|---|
| Transfer tax | 3.09% (planned 15.45% for Israelis from July 2027, if the law passes) |
| Notary | 0.65–0.8% by price, plus VAT |
| Lawyer | usually 0.5–1%, plus VAT |
| Land registry | 0.5% |
| Agent | typically 2%, plus VAT |
| With a mortgage, also | valuation, the bank's legal check, arrangement fee, life and building insurance |
Full breakdown, including new builds and VAT: Buying property in Greece. Prices by neighbourhood: Yavanet index.
A Greek mortgage step by step
- Get a tax number (AFM) and open a Greek bank account. A lawyer with power of attorney can do it without you travelling.
- Get approval in principle based on your income and debts, before choosing a property.
- Choose the property and a lawyer to check title, permits and debts.
- The bank's valuer assesses the property; the bank lends on the lower of price and valuation.
- Final approval and signing at the notary. The bank pays and the mortgage is registered on the property.
Risks to know
- Exchange rate: income in shekels, repayments in euros. If the shekel weakens, the monthly payment rises.
- Variable rate: after the fixed period, payments can rise.
- 15% transfer tax: if the law passes, buying from July 2027 will cost much more. If you plan to buy, check your timing now.
- If you rent it out: rental income is taxed in Greece and reported in Israel. Managing property in Greece from Israel.
FAQ
Can an Israeli get a mortgage in Greece? Yes. Banks such as Eurobank, Piraeus and Alpha Bank lend to non-residents, usually up to 65–70% of the property's value, subject to an affordability check.
What is the mortgage interest rate in Greece? In February 2026 the average rate on a new mortgage fixed for up to 5 years was 2.95%, according to the ECB. Non-residents usually pay more.
How much deposit do I need to buy in Greece? Usually about 30–35% of the price, plus about 6–9% in buying costs (tax, notary, lawyer, registry, agent) that the bank does not finance.
Do I need a Greek tax number for a mortgage? Yes. Without a Greek tax number (AFM) and a Greek bank account you cannot buy property or get a mortgage in Greece.
Greek mortgage or an Israeli all-purpose mortgage? It depends on rates, the euro rate and how much you need. An all-purpose mortgage lets you buy in cash quickly but usually finances a lower share. Compare with a mortgage adviser.
Want personal guidance?
S.F. Properties helps Israelis buy, rent out and manage property in Greece: from the search, through the lawyer and notary, to the keys and day-to-day management.
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