Close

Can foreigners buy property in Greece?

Yes, however it's easier for some than others. While EU residents will run into almost no restrictions purchasing property on the islands, non-EU residents will need to prove both their connections to the country and their intent for property use.

Is buying in Greece a good investment?

Greece has become a favorable investment destination in the last few years, mainly because of its natural beauty, mild climate and geographical position, but also because of a significant drop in prices following the financial crisis that emerged after 2010.

Is it safe to buy in Greece?

More than 80 per cent of the Greeks own their homes. They were never deprived from their properties, unlike most of the other Balkan peoples during the communist era. Greek constitution, courts and authorities fully respect property rights – which makes Greece a very safe place to invest in property.

Residence Permits

The Immigration and Social Integration Code (Law 4251/2014, Government Gazette  1, no 80) contains provisions that facilitate the stay of third-country investors, whose investments are characterized as strategic investments, via the provision of extended stay time limits for the representatives of investment bodies and their partners.

Moreover, it allows the granting of residence permits to third country nationals and to members of their families, who purchase real estate property in Greece, the value of which exceeds € 250,000.

Read More…

Is property cheap in Greece?
Greece is sunny, welcoming and the property is inexpensive. It has a population of only 11 million spread across land the size of England, with a large mainland around which are hundreds of islands. … When buying in Greece, think hard about when and how you will be using your property.
Can I buy a house in Greece after Brexit?
British citizens can still buy a property in Europe – with the exception of Austria. But there are some countries which have established residency-by-investment programs which are worth a look. Known as Golden Visas (GV), they are gaining in popularity among British buyers as a result of Brexit.

Invest in Greece  has been providing real estate brokerage and evaluation services for many years and we have been gaining the knowledge and experience that today is the foundation of our success.


We Specialize 
in all types of selected residential and commercial properties for demanding customers.
Our highly specialized management team delivers professional services in the field of property acquisition and investment.
We accompany our client throughout the whole selection of the acquisition process, starting from the selection of the property, assisting the client, if required, in negotiating the terms and conditions, sorting out technical and legal issues, up to the moment the agreement is signed.

Our Role is to support our clients in every aspect of their investment, providing legal, technical and financial analysis support.as well as after sales service .

Our Cooperation
with reliable construction companies, second hand property owners, our immigration and evaluation experts as well as a leading law firm in Greece , allows us to successfully implement any project to the utmost satisfaction of our client. The comments of our satisfied clients is our asset.

Our Philosophy
The key to our successful growth is the close relationship with our clients at every step of the process.

Our Policy
is to offer our clients with sufficient information and general knowledge of the local market and conditions. We prefer our client to be an “educated buyer” before signing any purchase contract. To us knowledge is an asset while misrepresentation is dangerous Equipped with the right knowledge of the market and process, our client can make the right choice without pressure.

We Believe
in honest and professional working practices.

Trusting US we can help YOU make your dream come true.

Nick Drimousis


FAQs

Any foreigner can become a homeowner in Greece. The country does not apply any restrictions on purchase. On the contrary, nationals of non-EU countries can even benefit from the Golden Visa as long as the minimum amount of their real estate investment is €250,000. This five-year residence permit is renewable and extends to his family (parents and children). After 7 years of residence, it is possible to apply for a Greek passport.

It is strongly recommended to be accompanied by a specialised lawyer when buying a property in Greece. There is no land registry in Greece (except in a few cities including Athens), so it is necessary to have a lawyer’s assistance before signing any sales agreement. The latter will thus be able to check the property titles, the building permit, the length, the buildability of the land… Similarly, it is advisable to call upon an accountant, a notary (often chosen by the seller) and even a surveyor who will ensure that all construction acts are in conformity with the law.

To be able to buy a home in Greece, you must obtain a non-resident tax registration number (AFM) and the access codes to the “TAXIS” system. This system makes it possible to fulfil its reporting obligations (including the payment of the housing tax). It is also advisable to open a bank account in Greece, which will facilitate the transaction and tax procedures related to the ownership of your property.

When signing the promise of sale, it is usual to pay a “deposit” and set a deadline for signing the sale agreement. However, you should be aware that the amount paid is not a legally binding guarantee of sale. To conclude the sale, the owner must provide a certain number of documents (tax certificate, energy performance certificate, etc.). The transfer of ownership is then done before a notary. The presence of an interpreter at the signing will be mandatory for people who do not speak Greek. Once the transaction is effective and with the help of his lawyer, the new owner must file the acquisition declaration within one month of purchase (E9 declaration).

There are some costs to becoming a homeowner in Greece. Acquisition costs, which include taxes and notary fees, rarely exceed 5%. The real estate agency’s commission, paid by the buyer, generally amounts to 2% of the sale price of the property while the transfer costs are about 3%. Legal fees vary the most time between 1.5% and 5% of the value of the property.

Once you become a homeowner, you must pay some related taxes such as property taxes. The Property Tax is assessed according to the price of the property concerned. Thus, the rate is 0.10% for a property over €200,000; 0.15% for a property over €300,000; 0.25% for a property over €400,000, then 0.35% for a property over €500,000 and so on. It is then 1.10% for a property of 2 million euros. Beyond that, the property tax applied is 1.15%.

A foreign owner whose country is under treaty with Greece (such as France) is not subject to double taxation. This way, a French person will not have to declare his property to French taxes (unless it is subject to the IFI (Real Estate Wealth Tax). Income from its properties in Greece will be taxable in Greece.

There are some costs to becoming a homeowner in Greece. Acquisition costs, which include taxes and notary fees, rarely exceed 5%. The real estate agency’s commission, paid by the buyer, generally amounts to 2% of the sale price of the property while the transfer costs are about 3%. Legal fees vary the most time between 1.5% and 5% of the value of the property.

Once you become a homeowner, you must pay some related taxes such as property taxes. The Property Tax is assessed according to the price of the property concerned. Thus, the rate is 0.10% for a property over €200,000; 0.15% for a property over €300,000; 0.25% for a property over €400,000, then 0.35% for a property over €500,000 and so on. It is then 1.10% for a property of 2 million euros. Beyond that, the property tax applied is 1.15%.

A foreign owner whose country is under treaty with Greece (such as France) is not subject to double taxation. This way, a French person will not have to declare his property to French taxes (unless it is subject to the IFI (Real Estate Wealth Tax). Income from its properties in Greece will be taxable in Greece.

A.Introduction

The Greek Government, aiming to attract   foreign investments, has recently introduced the possibility of granting residence permits to third country nationals who acquire real estate property in Greece or invest in tourist enterprises.

B. The Law

The granting of such residence permits is mainly regulated by L. 3386/2005   as it was introduced by Article 6 of law 4146/13.

“Article 36A
Granting of residence permits to real estate owners in Greece

1. By virtue of a decision of the General Secretary of Decentralised Administration, a residence permit for five (5) years is issued to a third-country national, if he/she has obtained a visa, if required, and legally owns, either personally or through a legal entity whose shares are wholly owned by him/her, property in Greece, or has, at minimum, a ten-year time-sharing contract under Law 1652/1986: “Time-Sharing and Regulations on Related Issues” (A’ 167) as applicable, or a 10-year lease of hotel accommodations or furnished tourist accommodations (houses) in tourist accommodation complexes according to Article 8, par. 2 of Law 4002/2011 (A’ 180). The aforementioned residence permit may be renewed for the same duration (five years), if the property remains unchanged in its legal ownership status as described above and the contracts of ownership remain in effect, and other statutory conditions detailed above are met. The minimum value of the property and the contract price of the time-share leases and the leases for hotel accommodations or tourist furnished accommodations (houses) in tourist accommodation complexes, according to this Article, shall be two hundred fifty thousand (250,000) Euros. By joint decision of the Ministers of Interior and Finance, the value of the above-mentioned property may increase or decrease, and will be determined in accordance with the stated prices of the sale documents of the properties, or leases as per their contracts, or as determined by ministerial “state values”.

2. The aforementioned third-country national (property owner) may be accompanied by the members of his/her family, as specified under paragraph 1 of Article 54 of Law 3386/2005. Upon their own request, family members may be granted a personal residence permit that is renewed and/or expires concurrently with the residence permit.

3. The residence permits provided under paragraphs 3 and 4 above do not allow a right to employment of any type.

4. The period of residence, under these specific conditions, is not taken into account in cases of granting citizenship to said residents.”

INVEST IN GREECE
526 King Georges Road
Beverly Hills NSW 2209
Sydney Australia
Email: info@999.com.au
Mob: +61 430 337 444