When you are considering land or property in anither country there are questions you will need answeres to. Below is a list of the questions more frequently asked by our clients and the answers to them.
Anyone is permitted to purchase a property in Greece. If you are from a E.U. country you have the same rights as a greek citizen. If your country is not a member of the E.U. the purchase is different.
Buying a house appartment or a building plot in Greece is subject to similar legalities to those applying in most E.U. countries. It is necessary to appoint a lawyer who will check the title of ownership and ensure that there are no legal encumbrances attached to the property. Your lawyers are responsible for the appointment of a notary public who prepares the necessary final contract in conjuction with him/her. Once the sale has been completed, it is the notary who registers it with the land registry and retains a copy of the final contract. The notary will also give you certified copies. You are required to obtain a Greek Tax Number (AFM) prior to the final contract being signed. You will also need a Greek bank account.
Once the sale/purchase and price of the property has been agreed, we recommend you sign a pre-contract agreement. This is prepared by us and signed by your and a similar contract is prepared and signed in the language of the seller. It commits both of you to a price and a date for completion (completion rerence to the time frame within wich you lawyer must determine and be stisfied that clear title exists on the property and that no mortgages or tax liability exists). The completion periods is usually a maximum of 60 to 90 days.
- Transfer Tax 3%;
- Notary Public Fees, are usually 2,5% of the full purchase price.
- Your lawyers fees, are 2% of the sale price plus VAT
- Our fees, are 2% of the sale price plus VAT or a minimum 1000 euros.
Property taxes are calculated based on the size of the accomodation and paid annually. Tax Value vary based on the age and the location of the property.
Yes they do. All land and properties are now listed on the land registry or the Registry of Mortgages. All properties in Greece are Freehold. Buildings in Greece are constructed according to European standards and regulations and most new buidings are eartquake protected.