Buying Property
Can Americans Buy Property in Europe?
Short answer: yes — in most countries, American citizens can buy property freely. Here is what you need to know about where it is straightforward, where there are restrictions, and what the process actually looks like from a US starting point.
One of the first questions we hear from American clients is whether they are even allowed to purchase real estate in European countries. The answer, for the vast majority of Europe, is a clear yes.
Which countries allow Americans to buy freely?
Portugal, Spain, France, Italy, and Greece — the five countries we focus on — all permit foreign nationals, including Americans, to purchase property without restriction. You do not need residency, a visa, or any special government approval to buy. This applies to residential properties, commercial properties, and land.
The European Union, in general, has open real estate markets for non-EU buyers. Switzerland is a notable exception (restrictions on foreign buyers), but it is not an EU member state.
What you do need before you buy
While there are no nationality restrictions, there are administrative requirements that apply to all foreign buyers:
1. A local tax identification number — the NIF in Portugal, NIE in Spain, Codice Fiscale in Italy, AFM in Greece. This can usually be obtained through a power of attorney before you visit.
2. A local bank account — most property transactions require a local wire transfer. Remote account opening has improved significantly in recent years.
3. A local attorney — not legally required in all countries, but strongly recommended. Your attorney conducts the title search, reviews contracts, and protects your interests.
4. Financing approval if you plan to mortgage — either through a European bank (possible but paperwork-intensive for non-residents) or through our US Mortgage Abroad program, which allows American buyers to finance European property against US-based assets.
Are there any restrictions to be aware of?
Some countries have restrictions on specific property types or locations. In Portugal, certain protected agricultural land has purchase restrictions. In Greece, properties in border regions require additional government approval. In France, the government has a right of first refusal (preemption) in certain rural areas.
These restrictions rarely affect typical residential purchases in desirable areas. Your attorney will flag any applicable restrictions during due diligence.
FIRPTA and US tax implications
Buying foreign property does not trigger US tax immediately. However, you will need to report the purchase and any rental income on your US tax return. If you later sell at a profit, US capital gains tax applies regardless of where you live.
We work with cross-border tax advisors who can structure your purchase to minimize US and local tax exposure from day one.
The bottom line
Americans buy property in Europe every day. The process is different from the US — more paperwork, different legal structures, longer timelines — but it is entirely manageable with the right local team. European Moves coordinates the full process, from tax number to keys in hand.