What are the essential Elements for building a house in Greece?
After the acquisition of land and the verification of its constructability you must obtain permission of the competent authorities of services of archeology and waters and forests. After that you will need to hire a architect to define your plans and to place your building permit. Your real estate agency Real Naxos is at your side to assist you in these demarches.
What are the purchasing costs to buy a property in Greece?
FMA (Property Transfer Tax) – FMA 3% and is calculated by the notary based on the property value referred to in the Contract, and will be paid at the tax office prior to signing the Property Transfer Contract. For newly constructed buildings if the construction permit was issued after 31.12.2005, the FMA is converted to 23% VAT.
1.Lawyer – The lawyer’s fee amounts to 0.5 – 2%, calculated on the property value.
2.Notary – Notary costs amount to an average rate of 0.65 – 1.2%.
3.Land Deed Registry – The expenses of Land Deed Registry amounts to 0.475% of the Contract value.
4.Realtor commission – 2% calculated on the property value.
The global expense turn around a 10% of the property value for a estate that the permit permission was delivered before 31.12.2005 and about a 30% for a estate that the permit permission was delivered after this date.
Am I obliged to pay the Annual Property Tax?
The Real Estate Property Tax (ENFIA in Greek) is compulsory for all property owners. The amount of this tax depend of the size of the property and this situation.
Please contact us for more details.
If I sell a property do I have to pay Capital Gains Tax?
No, Capital Gains Tax does not exist in Greece at the moment.
Is an Energy Performance Certificate required
In order to sell a property, an energy efficient certificate is delivered before the final selling contract.