Answers to a few important questions regarding real estate in Greece

How I can buy property in Greece?

There are real estate agents in every region of and they can act either on behalf of the seller or the buyer. A contract is signed between the real estate agent and the client  The usual commission is 2%  of the agreed purchase price (+VAT). The seller can be contacted directly. Click here to contact us.
Cost factors
Water front or coastal properties situated close to holiday resorts will be more expensive. Also the larger city centres have higher property costs

What documentation would need to be brought to the island in order to purchase either land or property?

In order to purchase land or property a foreigner needs to bring with them to the country their passport. It is also advantageous to bring evidence that any money used for purchasing has been taxed in the country in which it was earned.

What is the minimum size e.g. meters, of land that needs to be purchased for building a property?

The minimum size of land that needs to be purchased outside of the town planning zone is 4.000 m2 and with the new contract 8.000 m2 in Naxos and 10.000m2 in small Cyclades.

How much would it cost to build per square meter and what is included in this cost?

The cost to build per square meter is 1,200 euros. This price includes all utilities – sewerage and most of the internal and external requirements – e.g. wardrobes, verandas. Electricity and Water nets (we are not responsible for the delay from Electric and water company).

How much are estate agent fees for buying and selling?

Estate agent fees are 2% (+VAT) for both buyers and sellers. Minimum real estate agency fee is 1,500 euros for both buyers and sellers.

How much does it cost for a lawyer?

The cost of a lawyer amounts to about 1% per 1,000 € to buy or sell assets. You can, depending on cost (additional time required, unexpected difficulties, etc.) vary.

What is the cost for the legal expenses & the tax office?

The lawyer and notary costs are approximately 1-1.5% per thousand euros that is being payed.  It may vary depending on the time spent by the lawyer and any difficulties experienced. The cost of the transfer tax is 3% depending on the value of the property.

What do I have to take care in the buying of property in Naxos ?

To buy a property in Naxos you have to attend local office which deals in real estate.

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