Buying houses in Greece: nightmare or easy?
There are laws and authorities, different brokers and construction companies to hire and sometimes it becomes a problem (read our Tips for you who are planning to buy house or apartment).
Elias and I help our clients find and buy homes in the Peloponnese, Greece. Or rather in two areas of the Peloponnese: Messinia (around Kalamata) and Argolis (around Nafplio). We are Housefinders Peloponnese, Real Estate Services, VAT NO EL167898208.
The most important thing in our work is to help the buyer find the right object with the budget and goals he has. As well as being helpful during the selection process, finding reliable brokers and simplifying the buying process itself. Although the decision to buy a dream home in Greece is rarely an impulse purchase, it does not have to be a multi-year project: it all depends on how the purchase is prepared and planned. Feel free to read an interview with one of our customers here. Viewing of the properties is arranged by agreement with at least one week's notice.
NOTE: All information about a property for sale or rent as well as all information regarding operating costs (taxes, electricity, water consumption) or profit margins are from sources that are considered reliable. Exact information can be obtained from a lawyer, professional architect or engineer. Below is a FAQ for you who want to buy a house / apartment or plot with my and Elias' help.
A. What is included in your service when I want to hire you as a broker and broker?
Elias and I work as "Housefinder": we collect information from our customers and, if we do not have an object that matches, we pass on the right specification to the right broker in Greece in the areas we work with (around Kalamata, Nafplio and Chani, Crete). We work with carefully selected local brokers, but not with everyone, if you want to know why read more here. NOTE: it is in no way more expensive for you to buy through us than to buy directly from brokers we work with! In the cases where we deliver buyers, the commission is divided between our company and the brokerage company that is responsible for the item: buyers pay commission to us and sellers to the responsible brokerage company
- In cases where you find an object listed on our website, we will help you book a viewing with the broker who takes care of the object and who, before your visit, can answer your additional questions.
- We also answer your questions before - during - and after your purchase. We and our partners help you arrange all initial formalities with opening a bank account, registration with authorities, etc. Please note, however, that the latter is done with English-speaking Greek staff
B. How do I book a viewing with you?
In cases where you find an interesting object on our site: contact Elwira via email, telephone 070-3247949 or fill in Interest report for buyers we will contact you within two working days. Please note that travel costs and accommodation costs for viewing visits are paid by you, but we can help you with the practicalities. Do you need help with accommodation? Check out the houses and apartments that we have for rent on the website: a lot are year-round accommodation.
If you are already on site and want to book a viewing of one of the listed objects, you need to be prepared to give us up to 10 days to prepare for the viewing. It usually takes 2-3 days, but if the owner does not live in the area, some preparation may be required.
Note: during the viewing, you will be asked to sign a document called "Visitor Agreement". Since several brokers can hold the same object, a "Visitor Agreement" is signed at the viewing to secure which brokerage agency first presented the object to the buyer.
After the screening, you decide if you want to move on or wait and have continued contact.
C. Private Information Policy
Please note that the information stated in the expression of interest is only used for the purpose of identifying your wishes. This information will never be knowingly passed on, sold or otherwise used without your consent. Read more about our policy under the link here.
D. Do you help with all the formalities after the purchase?
Absolutely! We can communicate with a lawyer who then represents you until all is done. If you want to buy a summer residence, we can also communicate with companies that take care of the house when you are not there. We also take care of communicating with the accountant who makes your declaration in Greece.
E. What are the additional costs when I decide to buy a property?
In Greece, the commission cost is shared between the seller and the buyer (usually 2% + VAT each). In cases where the purchase price is below a certain amount, the buyer can pay a fixed brokerage fee which means that it will be a slightly higher percentage. This is something that you need to check with the broker who is responsible for the item you want to buy. Our company Housefinders Peloponnese always has the same commission: 2,48% (VAT included). In addition to the brokerage fee of about 2,5%, you need to count on 3% in property tax. Notary fee 2,5%. Lawyer cost 2,5% and Law Society costs of about 1% and Surveying costs 700 Euro.
This makes about 11,5%, so always count on just over 12%. Please note that since several brokers can hold the same object, a "visit agreement" is signed at the viewing to secure which brokerage agency first presented the object to the buyer.
Q. What permits are required to purchase property in Greece?
EU citizens can buy property freely in Greece. Buyers from other countries may find that certain restrictions apply such as buying property near military bases or national borders requiring special permission. These areas include the eastern Aegean Sea, the Twelve Islands, regions of northern Greece and parts of Crete and Rhodes. These restrictions are often a mere formality for EU citizens, but permits can be more difficult for non-EU citizens to obtain.
G. Can you borrow to buy a house in Greece?
EU citizens can buy property freely in Greece. Buyers from other countries may find that certain restrictions apply such as buying property near military bases or national borders requiring special permission. These areas include the eastern Aegean Sea, the Twelve Islands, regions of northern Greece and parts of Crete and Rhodes. These restrictions are often a mere formality for EU citizens, but permits can be more difficult for non-EU citizens to obtain. BUT in practice it is difficult if not impossible to get a bank loan if you do not already live in Greece.
H. What is important when buying land in Greece?
The most important thing to check is whether the plot is buildable at all, ie whether it is possible to get a building permit. If the plot is already covered with a building permit, check for how long. The new building regulations in Greece since 2015 mean that a plot can only receive a building permit if it is within the building plan. Plots over 4000 sqm can always get a building permit. Building permits are always given for 200 sqm of building space. But note that it is also important to take into account extra floors. 100 sqm per floor means 200 sqm for two floors in Greece as they do not go for living space but total building area per floor.
I. Can I buy by proxy?
The purchase process can take time in Greece as there is a lot to check by each lawyer and sometimes you do not have time to go down just to sign certain documents or the purchase agreement itself. Then you can do as we did. We chose to give our lawyer a power of attorney from Sweden so that she could complete the purchase for us and it worked really well. Of course it is associated with a little cost, but clearly cheaper than if you or yourself have to fly down and maybe stay in a hotel for a few nights. Cost for this? Count on 2-3% of the purchase price, so in our case when we only bought one plot, it was cheaper than taking a flight for two people down to Greece to sign.
J. What is your primary area?
The primary areas we work with are Messinia and Argolis in the Peloponnese. We work with carefully selected local brokers, but not with everyone, if you want to know why read more here. We can also help you Crete and close to Chania. If you want to buy in another area: contact us, we may be able to help you even closer to Athens. Please fill in registration of interest under the link here.
Husigrekland.se and partners can help you to:
Find the right item. We will help you find the right object that suits your budget
Find the right place. We will help you find an area that suits your needs
Choose the right time. We will help you to arrange viewing when it suits you best
Get the right help. We will help you find a lawyer and accountant who will ensure your purchase