Costs of buying property in Greece

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In the new edition of the legislation, the amount of tax on the purchase of secondary real estate is 3%, regardless of the value of the object. The purchase tax is paid when signing a notarial sales contract and transfer of ownership.

Upon signing the contract, the following services are paid for registration of property rights to the property:

  • Lawyer services (full verification of documents, opening a tax number of the TIN (ΑΦΜ) and a bank account in the client’s name, signing a contract, percentage of a transaction, the cost of transferring the contract).
  • Translation of the contract into Greek – 250 euros (up to 20 pages).
    Notary fees.
  • Registration in the cadastral register – 0, 7% – 0.8% of the value specified in the contract.

For example, consider the total cost of real estate registration, the commercial value of which is 200 000 €, and the cadastral value of real estate is 100 000 €, then the costs are as follows:

  • Lawyer services: 100,000 x 1.5% = 1,500 € (additional 24% VAT, which is charged over and above this amount) = 1,845 €
  • Notary fees: 100,000 x 1.5% = 1,500 € (optional VAT 24%) = 1,845 €.
    Property Transfer Tax: 100,000 x 3% = € 10,000
  • Registration in the mortgage registry: 100,000 x 0.5% = 500 €.
  • Reseller services: 200,000 x 2% = 4,000 € (extra VAT) = 4,920 €
       The total amount of expenses is 19,110 € (this amount cannot be considered as a percentage of the value of the property).
Aslanidis Estate in Crete