Greek Real Estate – Buying Property in Greek

Buying Property in Greek

Buying property in Greece is not difficult if you know what you are doing. However, you need to do your homework to make sure you get the right deal. It is also a good idea to take a trip to the country so you can see what it is really like. The process of buying property in Greece does not involve mortgages.

A lawyer can help you through the legal complexities of buying Greek Real Estate. This includes conducting legal searches, signing the appropriate paperwork, and ensuring that the buyer has a clear title to the property. The best lawyers in the business will be able to streamline the process and minimize any unpleasant surprises down the road.

Before you buy property in Greece, you should learn about its tax system. Depending on your location, you will either pay a VAT or a property tax. The standard rate is 24%, but there are some exceptions. When you’re considering your options, keep in mind that property investments are free of VAT until December 31st.

Greek Real Estate – Buying Property in Greek

The Greek real estate market has grown along with the economy, which is why it’s not surprising that prices have increased. You may want to consider the long term benefits of investing in a property in Athens or Crete rather than a property in the more touristy southern suburbs.

The cost of buying property in Greece is not astronomical, and is primarily the value of the real estate. In addition to the actual price, you will need to pay for a stamp duty, a land registry, and a notary fee. Those fees are usually in the range of 3% of the transaction value.

While you are at it, you should also check out the local amenities. For instance, many houses in Athens have elevators that open on their own. This can save you a few trips. Likewise, you might be able to find an apartment with beach access. You should also investigate the building’s structural stability. You should also take a look at the driveway, fence, and hot water heater. You should also ask your lawyer for a free inspection, and break the deal if the seller won’t allow you to do so.

While shopping for property in Greece, be sure to take advantage of the many websites that list properties for sale. You can visit the sites of real estate agents to get a better idea of what’s available. There are also finance houses that can help you arrange the funds needed to purchase a property.

The cost of buying a home in Greece is a small fraction of the total cost of living. You should not be too stingy with your money. You might be able to save on a mortgage by remortgaging your current property. This will also establish a credit record for you and your family.

The most important thing to remember is that buying real estate in Greece is as safe as it is anywhere else. As with any other country, there are always dangers, but if you are prudent with your money, you can have a smooth purchase experience.