General Information on buying land or houses in Greece

When buying land in Greece!

The citizens of the European Union (EU) can buy property in Greece whenever they want. Legally they are treated by the Greek government in the same way as Greek citizens.

A lawyer takes care of the legal interests of the prospective buyer, especially in his absence. Furthermore, he checks the legal position of the building or land. Of course, any possible mortgage on the respective property has to be verified. As such the land register must be checked.

There are four different kinds of records which must be checked by the buyers lawyer before the purchase:

All transcriptions (the copies of the notary contracts) are collected in the Transcription Records.

The mortgages of the property are recorded in the Mortgages records. The possible legal encumbrances are found in the Vindication record and the categories of sequestration orders are shown in it also.

In the case of a commercial real estate purchase, the present legal constitution of the respective company must be examined. The confirmation of the Forestry Office that the property is not on public land must be obtained before the purchase of the property by legal action. In addition, the title pursuance (transfer of ownership) must be carried out.

For the properties we offer, usually these necessary examinations are completed or are in the procession of completion. When a prospective client has decided on a specific property, he can issue power of attorney to a lawyer of his choice (A power of attorney should be issued only to a professional jurist). This power of attorney enables the lawyer to sign the contracts on behalf of the buyer.

The contracts are drawn up in Greek, but they can be translated into any other language as required. We recommend in any case the translation of the contract into German/English and before the date of signing at a Notary Public to re-check its correctness.

Our contract translations for all Greece are made by the Translation Office BEATE BEYER-ARVANITIDIS which has its central office on the island of Paros/Cyclades.

Ms. Beate Beyer-Arvanitidis

Before signing the final notary contract, preliminary contracts are often drawn up and signed, but for the final signing a notary contract is obligatory in order to acquire the possession of the real estate.

The preliminary contract specifies to a large degree the content of the final contract and for this reason a lawyer should be involved already at this point. Before signing the contract the local Tax Office (in Greek: Eforia) carries out an estimated value fixing of the property. The property tax is based on this amount. Currently this is about 11% of the estimated value in Greece.

Normally the Tax Office estimate is lower than the market price, in following the tax burden decreases for the buyer/seller. Before the transfer of the property on your name, you must apply for a Greek tax registration number from the local Tax Office.

Upon receiving the tax registration number it must be submitted to the Notary Public, after which the property can be transferred to your name. The property may be resold and bequeathed in the same way as in Germany. The use of the lawyer can have a favorable influence in lowering the estimated tax value.

The contract will be drawn up by the Notary Public. After signing the contract at the Notary Public the changed ownership of the property will be entered into the relevant records.

If you wish, we can accompany you up to and including the signing of the final contract. This service is free of charge, where the purchase is EUR 100.000,00 and more.

We charge 3% commission on the final price. The Greek VAT of 21% is not in our commission. So the final commission is 3,63%

For any possible special legal issues in Germany, please consult the lawyer chambers of:

Mr. Prof. Dr. Dimitris Ziouvas

Offer on the island of Cyprus you will found: here...

We can help you buy, sell, or rent. Contact us for all aspects of your real estate needs.