What you have to consider when buying property in Greece
The acquisition of real estate in Greece is easily possible, especially for members of the EU. You simply need a passport or your identity card to conclude the contract of purchase with a Greek notary.
What kind of additional costs do arise for the buyer?
First of all you need the definitive price of the real estate. Then, the contract of purchase has to be certified by a notary. For this formalities you have to pay different fees:
|-||Fee for the notary, this duty depends on the price of the estate, it is about 1.25% of the price for the estate..|
|-||Fee for the lawyer, it is about 1% of the price of the estate.|
|-||Real Estate Taxes: 9% on the first € 15,000 and 7% on the additional amount. Basis for this prices is the value estimated from the Greek state, which is only a fraction of the real value.|
|-||Fee for the registration in the Greek title and charge register. There will be no annual land tax.|
The notarial contract of purchase only resorts when the tax for the land acquisition is payed. There will be a registration in the Greek title charge register after 4-6 weeks. The registration does not depend on modalities fixed in the contract of purchase. Payment by instalment with promissy note is possible (the payment has to be done by your bank), but please keep in mind that there will be charges for each promissy note.
There is no need for a translator, because there are English speaking lawyers in Thessaloniki for example. By the way, Mr. Mekitanidis will accompany his customers to the notary. Surely you or Mr. Mekitanidis can book an English translator, but this additional costs have to be paid by the buyer.