Foundations: Difference to Buying House vs. apartment in Greece

Foundations: Difference to Buying House vs. apartment in Greece

You want your own paradise in Greece. House or apartment? Is there a difference to buying houses vs. apartment in Greece? Make it easier to buy an apartment?

Buying a property in Greece is a bit more complex process than we in Sweden are used to when the country lacks a central digitized register, but if you think it's easier to own an apartment then you should know some things before buying someone.

In Greece there is no concept of housing association

For us Swedes who are used to buying condominiums add another unusual problem. The actual purchasing process is the same as for house or land, but there is a difference that one needs to consider.

In Greece there is no concept of housing association but you buy your own apartment and then it's your own. But? Wait a minute now! How about the building and the plot? Heating and other common facilities?

Each house / building has a type of house association, but there are no legal rules on how it works, but it differs from each house. The housing association will manage the common areas and other things that require continuous supervision and also decide on the care of the property (eg painting inside and outside, changing of heating system, maintenance of external doors, etc.).

Greek Democracy: Everyone who owns an apartment in a house must cooperate

Usually, it is all owners in the house who appoint one of those responsible for the house in the coming year (collection of monthly fees, payment of joint costs, implementation of decided actions and representatives of the property). As a rule, these services are purchased, paid and monthly invoiced by a common cashier.

In many places, this works very well, but since the crisis broke through, there are many owners who refuse to pay the monthly costs, or some of them, and it's difficult to access them. It may end up with moods, but even if you win the judicial verdict, you can still pay your own costs in Greece, so it can be expensive and many people use this.

Checklist for those who want to buy an apartment

First and foremost, it's a big difference if the house is built on the 1990 century or later compared to those built earlier. In the case of older houses, the insulation can be (and usually) quite painful. Insulation is important both for summer and winter and a poorly insulated room in the corner of a house can be unhealthily hot in the summer and it is cold in the winter.

The following are extra important to check:

  • Additional costs that may occur: Kitchen fittings, appliances and wardrobes are not always included in the purchase
  • Also check: Safety devices, burglar alarms, awnings etc are included in the purchase.
  • Check if there is individual measurement of the heat per apartment (a clear advantage)
  • There are ready connections (electricity and water) to the solar heater on the roof (usually available today)
  • There is a repair fund (not so common) and it usually raises the price of the apartment
  • There are security doors to the apartment and then well-insulated ones with TRÖSKEL (you have not missed that it is clean, the autostradan is cold or heated under Greek entrance doors?).
  • Check which rules are available for the house. Tex if pets or sun heater are allowed on the roof

In addition, you should always check the number of rented apartments in relation to the total number and preferably, NO apartments should be rented, but as few as possible. Why is this important? Otherwise, the owners are not active in the housing association, nor are they always interested in the care of the house and nothing can be imposed on the tenants.

Finally: dare to bet!

Finally, if you find the place and it feels right and everything looks good then turn on and buy your dream apartment. Because it's been in Greece since 5-6 years back and any rise in prices for properties and apartments does not seem to be current next 1-2 years. On the other hand, one can not expect any more fall in prices that have begun to stabilize.

Useful links