Buying Real Estate in Greece:
Foreigners are permitted to buy property in Greece. There are no restrictions for EU citizens. Non-EU citizens cannot buy property close to the Greek borders.

The Process:
Prospective buyers must exercise caution when purchasing property in Greece. At Seaside Global Real Estate, we will assist you at every step in the process. We have affiliated business arrangements with reputable local notaries, attorneys, translators and lending institutions.

Once a property is found and a sales price is negotiated and agreed to, the buyer will secure the contract with a 10% deposit which is non-refundable if the buyer backs out of the contract. Fully documented deposits will be refunded if the title to the property is found to be clouded or if other legalities prevent the transfer of the property to the buyer. A lawyer must be retained to asist with these legal matters and the contract must be executed before a notary public.

Necessary Documents:
The following documents are necessary for signing the purchase contract:

1. A valid passport or, in the case of EU citizens, a legal EU ID card.
2. A Greek tax registration number

Taxes & Fees:

1. Purchase tax ranges from 7%-11% depending on the price of the property. In the case of properties constructed after January 2006, a VAT tax of 19% is charged. This tax, however, is based on a minimum building cost established at the time a building permit was issued.
2. In some cases there is a local municipality tax currently calculated at 3% and paid at the same time as the purchase tax.
3. The cost of the notary is generally up to 2.5% of the contract price.
4. Attorney’s fees range between 1-2%.
5. Real estate commission is negotiable and may be paid by the seller, the buyer or both and is negotiable at the time of contract.