Fragen und Antworten

Since I am not a Greek citizen, is it possible to buy property in Greece?

Yes, of course it is.
If you belong to a country-member of EU you are under the same legislation as a Greek citizen. If your country is not a member of the EU, the procedures differ and we are willing to inform you accordingly as long as we know your nationality.

What documentation is required as being a buyer?

Card of identification/passport in validity
AFM (Greek equivalent of National Insurance number) which is provided to you by request from the local IRS (Internal Revenue Service)

What are the legal requirements when buying or selling a property?

Above all, there must be a contract for selling or buying a property in order for it to be a legal purchase. Τhe permission for such action is given, by law, to notaries. Hence, each contract/transfer of selling property is a notary’s obligation. The lawyer examines the titles of the property of the seller and together with the rest documentation, he brings them to the notary who is incharge of forming the contract of selling or transferring property. The whole action is being registered in the relative records of the notary and only then it is considered valid.

As a future buyer and not knowing the greek language, how can I be sure for the validity of the documentation transmitted for buying property?

This is secured once a law representative, a lawyer, is obliged to investigate and examine all the titles of the property meaning them to be legal and wholesome so as to proceed to the final contract. The onor of the lawyer is furthermore to complete the transition of the property to your name through the local authorities.

Which is the documentation required in order to sell property?

The seller must bring all the legal documentation to the lawyer, for example:
Titles of the property
Certificate of the transfer to the Registry of Mortgages
Quadrant diagram and plans
Certificate of the local Inland Revenue Service
Certificate of the Land Registry

What are the expenses for buying property?

When buying property you will have to add extra expenses to th real value of the property and that is :
Transfer tax
Municipality tax
Public notary
Lawyer’s fee
Registry of Mortgages

The expenses are being calculated as a percentage to the objective value of the property ( 18-20%) and not to its real value.

What could be the cost of buying property in Greece?

The value of a property in Greece is divided into two meanings. The real value of a property which refers to the expectation of the seller and differs from place to place based on the demand and supply.
The objective value of a property is based on the criterias set by the inland revenue authorities for a certain period of time and for certain places. The objective value sometimes approaches real value but as a rule the former differs significally ( 50% lower ).So on the transfer/contract of property is done when the value is not lower than what the objective is.

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Fragen und Antworten