Real estates

Some of you might dream of a little house or a piece of land on Thassos.
To help you not to lose all of your savings, here are some helpful tips:

Basically every EU-member is allowed to get a real estate in Greece.

Befoer you will buy a real estate, please check the ownerships.
If somebody has the right to live there until dying, it could happen, that this person moves in with all his household effect. In this situation you have no possibility to get this person out of your new home!

You can let your lawyer check off the ownerships and mortgage debt. The lawyer will examine the correct entry in the real estate register and he is out of a sense of duty to get all information about the real estate. You can authorize your lawyer to represent you at the notary.

The inland revenue office will estimate the price of the real estate. This esimated is the basis for the calculation, for example the land transfer tax.
Even if you had paid the taxes at the inland revenue office you can sign the contract and pay.

Arise costs:

  • purchase price
  • land transfer tax (about 7 – 13 %)
  • local tax (about 3 % of the land transfer tax)
  • notary rate (up to 1,5 % of the purchase price)
  • notary office rate (about 0,45 % of the purchase price)
  • lawyer rate (about 1,5 % of the purchase price or by agreement)
  • broker´s commission (if applicable)

Since 1997 you have to pay a capital tax (about 0,04 % of the asset of the real estate) which depends on the asset and how big the real estate is.
You will pay the capital tax by the tax return every year (normaly in the end of May).