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How to successfully buy a property in Greece

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Greece is a favorable investment destination not only because of its natural beauty and mild climate, but also because of a significant drop in prices following the financial crisis that emerged after 2010. Investors from all over the world are now looking at Greece as the new “hot” investment destination and rushing to benefit from the abundance of quality real estate available at affordable pricing. Many buy as end users and others with the aim of long term letting or airbnb.

Usually the real estate in Greece is acquired by purchasing contract: The buyer and seller appear before a notary public and sign a deed which is subsequently registered at the local cadaster or land registry.

EUROSPACE Real Estate offers a big selection of properties to choose best suitable for you. After selection of the property, our lawyer performs all the necessary legal searches. The title search takes place at the Land Registry and ensures that the asset in question indeed belongs to the seller and that it is clear of any encumbrances (such as mortgages, liens, foreclosures etc). The lawyer also checks the suitability of the asset and if this is located in an area where prohibitions or restrictions apply.

EUROSPACE Real Estate helps with the issuance of a tax number for a new buyer. It is a requirement of the Greek State that every transacting party (natural person or legal entity) has its unique tax number before acquiring real estate.

After the buyer has a tax number, the next step is to pay a property transfer tax. Currently at 3% of the value of the transaction.

After the transaction tax is paid both buyer and seller are to sign the purchase contract before a notary public. The buyer gets the title deed, which is the first step to ownership of the property.

The registration of the title deed takes place at the local Land Registry and is the absolute proof of ownership.

As a last step our agency register your property online with the tax authorities and change the electricity and water supply billing to the new owner’s name.

EUROSPACE Real Estate Group offers after sell service such as: property renovation, property management, long or short terms rent, tax advising.

Please do not hesitate to contact us if you have questions on property acquisition in Greece.