FAQ for you who want to buy a property in Greece with Housefinders Peloponnese. Elias and I help our clients find and buy homes in two areas of the Peloponnese: Messinia (around Kalamata) and Argolis (around Nafplio).
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The most important thing in our work is to help the buyer find the right object with the budget and goals he has. As well as being helpful during the selection process, finding reliable brokers and simplifying the buying process itself. Although the decision to buy a dream home in Greece is rarely an impulse purchase, it does not have to be a multi-year project: it all depends on how the purchase is prepared and planned. Please note: viewing of the properties is arranged by agreement with at least one week’s notice.
IMPORTANT: All information about a property for sale or rent as well as all information regarding operating costs (taxes, electricity, water consumption) or profit margins are from sources that are considered reliable. Exact information can be obtained from a lawyer, professional architect or engineer. Below is a FAQ for you who want to buy a house / apartment or plot with my and Elias’ help.
1. What is included in your services?
Elias and I work as “Housefinders”: we collect information from our customers and, if we do not have an object that matches, we pass on the right specification to the right broker in Greece in the areas we work with (around Kalamata and Nafplio). NOTE: it is not more expensive for you to buy through us than to buy directly from brokers we work with! In the cases where we deliver buyers, the commission is divided between our company and the brokerage company that is responsible for the property: buyers pay commission to us and sellers to the responsible brokerage company.
In cases where you find an object listed on our website, we will help you book a viewing with the broker who takes care of the object and who, before your visit, can answer your additional questions. We also answer your questions before – during – and after your purchase. We and our partners help you arrange all initial formalities with opening a bank account, registration with authorities, etc.
2. How do I book a viewing with you?
In cases where you find an interesting object on our site: contact Elwira via email or fill in form for buyers. Elwira will contact you within two working days. Please note that travel costs and accommodation costs for viewing visits are paid by you, but we can help you with the practicalities. Do you need help with accommodation?
If you are already on site and want to book a viewing of one of the listed objects, you need to be prepared to give us up to 5 days to prepare for the viewing.
Note: during the viewing, you will be asked to sign a document called “Visitor Agreement”. Since several brokers can hold the same object, a “Visitor Agreement” is signed at the viewing to secure which brokerage agency first presented the object to the buyer.
3. Private Information Policy
Please note that the information stated in the expression of interest is only used for the purpose of identifying your wishes. This information will never be knowingly passed on, sold or otherwise used without your consent. Read more about our policy here.
4. Do you help with all the formalities surrounding the purchases?
Absolutely! We work with local lawyers and can put you in touch with one who will then represent you throughout the purchase process until everything is ready. If you bought a plot of land through our company, we will help you find reliable construction engineers and construction companies. Check also our “Buying a property through HouseFinders Peloponnese: step by step guide 2023“,
5. What are the additional costs when I decide to buy a property?
In Greece, the commission cost is shared between the seller and the buyer (usually 2% + VAT each). In cases where the purchase price is below a certain amount, the buyer can pay a fixed brokerage fee which means that it will be a slightly higher percentage. There may also be other special circumstances for a fixed fee. This is something that you need to check with the broker who is responsible for the property you want to buy.
In addition to the brokerage fee of about 2,5%, you need to count on 3, 09% in property tax. Notary fee 2,5%. Lawyer cost (approximately) 2,5% and Law Society costs of about 1% and Surveying costs 700 Euro.
This makes about 11,5%, so always count on just over 12%. Please note that since several brokers can hold the same object, a “visit agreement” is signed at the viewing to secure which brokerage agency first presented the object to the buyer.
6. What permits are required to purchase property in Greece?
EU citizens can buy property freely in Greece. Buyers from other countries may find that certain restrictions apply such as buying property near military bases or national borders requiring special permission. These areas include the eastern Aegean Sea, the Twelve Islands, regions of northern Greece and parts of Crete and Rhodes. These restrictions are often a mere formality for EU citizens, but permits can be more difficult for non-EU citizens to obtain.
7. Can you borrow to buy a house in Greece?
Theoretically it´s possible to get a bank loan from Greek banks. But only if you have your residence permit in Greece. In reality it´s very difficult, if not impossible to get a bank loan from Greek banks to buy a property in Greece.
8. What is important when buying a plot in Greece?
The most important thing to check is whether the plot is buildable at all, ie whether it is possible to get a building permit. If the plot is already covered with a building permit, check for how long. The new building regulations in Greece since 2015 mean that a plot can only receive a building permit if it is within the building plan. Plots over 4000 sqm can always get a building permit. Building permits are always given for 200 sqm of building space. But note that it is also important to take into account extra floors. 100 sqm per floor means 200 sqm for two floors in Greece as they do not go for living space but total building area per floor.
9. Can I buy by proxy?
The purchase process can take time in Greece as there is a lot to check by each lawyer and sometimes you do not have time to come to Greece just to sign certain documents or the purchase agreement itself. Then you can do as we did. We chose to give our lawyer a power of attorney (PoA) from Sweden so that she could complete the purchase for us and it worked really well. Of course it is associated with a little cost, but clearly cheaper than if you or yourself have to fly down and maybe stay in a hotel for a few nights. Cost for this? Count on 2-3% of the purchase price.
10. Are you available and helpful after the purchase?
Obvious! We live here permanently and have a wide network of accountants (which you will need to make your declaration in Greece), builders, renovation help, cleaning help, gardeners and others. We find out what you need, contact the relevant companies/people, ensure they can help you and then supply you with a list of people and contact details. We invoice 50 euros per hour and in many cases it is around 2 hours that we need for such start-up assistance. If we know it will take several hours, we will inform you in advance.
11. I will not live permanently in my house. Can you help with rentals?
Yes, we are very happy to do so. A service that many of our homebuyers request. We take photos, make a description and publish on our website (click on the link here). This is completely free of charge for you. Our fee, when we find a tenant for you, is 10% from the entire rental period and you pay us after your tenant checks out, so no money up front. We will also contact you with those who will be your House Managers and who can take care of your guests and the cleaning.