Owning a home remains the timeless dream of every Greek citizen. However, the real estate landscape has changed dramatically. Traditional purchasing methods now coexist with alternative paths, such as electronic auctions, while tax exemptions for "First Residence" remain the strongest incentive for new buyers.
What is legally considered a "First Residence"?
Many confuse a "first residence" with simply the first house someone buys. Legally and fiscally, the term is very specific. A first residence is defined as the property acquired to cover the housing needs of the taxpayer, provided that they, their spouse, or their minor children do not hold full ownership or usufruct of another house or land plot that meets their housing requirements.
- For a single individual: up to 70 sq.m.
- For a couple: up to 100 sq.m.
- Increase: 20 sq.m. for each of the first two children and 25 sq.m. for the third and subsequent children.
Benefits of the First Residence
Recognizing a property as a first residence offers a significant exemption from the Property Transfer Tax (FMA). For 2026, exemptions apply to property values up to a specific limit (e.g., €200,000 for singles, €250,000 for married couples), a fact that can save the buyer thousands of euros in expenses.
How can I acquire a home today? The 3 main paths
- Open Market: The traditional method through real estate agencies. It offers the greatest variety but often the highest prices.
- Bank Financing (Mortgage): An essential tool for most. It typically requires a down payment of 10-20% and a stable income.
- Electronic Auctions: The rising force in the market. Properties are auctioned at starting prices often lower than commercial values, offering real investment opportunities.
eAuction24.gr: Your ally in home acquisition
The home search can be exhausting. This is where eAuction24.gr comes in to simplify the process, especially if you are considering the auction route to acquire your first home.
Specialized Residence Search
On eAuction24.gr, you don't just see a list of properties. You use smart filters to identify apartments and detached houses that meet the "First Residence" requirements in your area of interest.
Opportunity Assessment
Each property is accompanied by detailed information. The platform helps you understand if the starting bid price is truly advantageous compared to the current commercial value of the neighborhood, ensuring your purchase has investment value.
"Turnkey" Support
eAuction24.gr connects you with its network of partners (lawyers, notaries, engineers) who handle title checks and the tax exemption process for the first residence, ensuring you face no surprises.
Tips for new buyers
- Check your creditworthiness: Before starting your research, talk to a bank to know the exact amount you can borrow.
- Calculate "hidden" costs: Notary fees, legal fees, registration costs, and potential renovations must be included in your initial budget.
- Leverage technology: Use tools like eAuction24.gr to access properties that aren't listed in common classified ads.
Ready to take the next step?
Acquiring a home doesn't have to be a chaotic process. With the right information and proper tools, the key to your own front door is closer than you think.
Trust eAuction24.gr and find the residence that suits you today!
