Property Sales, Consulting & Legal Services

Frequently asked questions

• Why a House in Greece

  In recent years there has been an increasing demand for real estate in Greece. There are many reasons that make Greece an ideal country for a second (or even first) home.

  Climate

  Greece has a typical Mediterranean climate, with mild winters and dry summers, and almost year-round sunshine (320 days a year). The warmest period is the end of July – beginning of August, with average temperatures between 29 and 35°C (84-95°F), but it is during this period that the annual north wind from the Aegean Sea causes pre-cooling.

  Large variety in landscape

  Greece has an enormous coastline, with 3000 islands, 138 of which are inhabited. They provide beautiful beaches, small bays, sun and sea. The Greek archipelago is a sailing paradise par excellence. A country full of history, myths and countless archaeological sites. But the great attraction of Greece remains of course the sun and the sea.

  Good accessibility

  Greece is the country with the most airports in Europe (more than 45). Every corner of the country can be reached daily, either directly with a charter flight or with a layover in Athens. By car, Greece is easily accessible via Italy; from several Italian harbours you can make the crossing by car with one of the many luxury ferries.

  Juridical transparency

  Greek law is partly based on German and French law. Property is sacred, as in the Netherlands and Belgium for example. The protection of property is seen as a fundamental right and is enshrined in the constitution. When legal procedures are completed with due care, the buyer is 100% owner, without restrictions, reservations or small print.

  Small scale

  Unlike countries such as Spain and Turkey, Greek law prohibits the construction of mega-projects. Thus, outside the village limits, a maximum of 200 sqm can be built on a plot of at least 4,000 sqm. The house to be built may then not be higher than 7.5 meters. These strict building regulations – in combination with the landscape – have ensured that no projects with hundreds of houses can be found in Greece.

  The strongest selling point for Greece may not be directly measurable, but therefore no less perceptible. Ask the average visitor in Greece this question and you will always receive the same answer: the Greek hospitality. Together with all the above, more rational arguments, Greece is for many the ideal country to buy a second home, on the gorgeous mainland or one of the many beautiful islands, overlooking the infinite azure blue Greek sea.

  For complete list of benefits to having a home in Greece, see our complete guide here.

• Why Elxis?

  • Legal guidance from start to finish

  • Almost 30 years of experience in the field of Greek real estate: excellent knowledge

  • Your point of contact in English, Dutch or German

  • English (and Native Dutch)-speaking Greek lawyers at your service

  • We take care of the application for a Greek tax number, we help with the opening of a Greek bank account etc.

  • We take care of the entire settlement of the sale: cadastral survey, notarial transfer, registration in the land register

  • Advice on legal, fiscal and practical matters

• Is it Useful to Use a Real Estate Agent?

  As a foreigner without much insight into the local market, it is advisable to resort to the services of a real estate agent.

  Various types of real estate agents are active in Greece.

  • The large brokerage firms mainly located in Athens and dealing with the upper part of the market.

  • The small ‘traditional’ Greek real estate agents, often very capable but not always service-oriented offices that sometimes want to get the deal done too quickly.

  • Brokerage offices in the more touristy areas working mainly with Western European clients. It is necessary to inquire locally about the reputation and service of the real estate agent.

  • The intermediary agencies in the buyer’s home country, specializing in Greece. Elxis has been doing this work since 1991, to the great satisfaction of dozens of customers each year. The advantage of this is that you have your point of contact and get answers to your questions in English and can discuss everything with our experienced brokers and legal experts.

  You must sign a clear written agreement with an authorized broker, stating the agreed brokerage fee, in a language you understand. Never sign anything in Greek if you do not know exactly what it says.

  The brokerage fee is freely negotiable; for most Greek real estate agents it varies between 2% and 4%.

• House Found, Price Agreed, What Now?

  When the seller and buyer have agreed on the purchase price, the seller must transfer the title (deed of purchase, deed of gift or inheritance etc.) of the property to the buyer. The buyer should hire a lawyer, preferably one with whom he can communicate in a language he understands, and hand him the title deeds so that he can check their authenticity with a competent mortgage register.

  The examination of the title deeds is essential and must be carried out with due care. After all, it is the legal foundation of your home. The examination includes a check of the legitimacy of the titles and the existence of any liens on the property with the competent mortgage registry. This examination must cover a period of at least 20 years (due to prescription periods). Moreover any possible preexisting liens should also be checked and, finally, the search will also tell the buyer if there are any claims on the property by third parties.

  After the title deeds have been checked and found to be in order, a notary is appointed by the buyer. Based on the existing title deed and the details of the contracting parties (for the buyer, the details of the proof of identity and a Greek tax number are sufficient), the notary draws up a draft deed of purchase and calculates the amount of taxes and other costs. The buyer (or his lawyer) pays the taxes before the deed is executed and submits a proof of payment to the notary, which is attached to the deed.

  After signing the deed, the notary hands over a copy of the deed to the buyer’s lawyer. The latter then ensures that this copy is filed (‘transferred’) with the mortgage register. From this moment, i.e. as soon as the deed is entered in the public registers held by the local mortgage register, the purchaser is also formally the legal owner of the property.

  Elxis has proven its value in this field for more than 30 years. The legal foundations of a house are just as important, if not more important than its actual foundations. We understand very well that our clients often entrust all their money to us to realize their dream home in Greece. And we don’t take that lightly. Should something even remotely suspicious crop up in our investigation of the ownership titles, we’d rather see this transaction fall through then opt for a ‘quick buck’. As a result the ties we build with the vast majority of our clients extends to more than a purely business relationship. Our clients are always welcome to consult us for any matter even years after they make their purchase. For them it might be a new matter, for us it’s daily practice.

  Learn more about every step of the buying process in our complete guide.

• Do I Need a Greek Tax Number?

  Yes. The tax number (AFM) is mandatory for all (legal) persons who want to buy real estate in Greece, regardless of nationality.

  The procedure for obtaining it is quite simple. A tax number is issued free of charge by the tax authorities on presentation of a valid identity document and after completing a special application form.

  If you have given us a power of attorney we can apply for the tax number on your behalf.

  Read more Greek Tax Numbers in our Complete Guide.

• Is There an Annual Property Tax?

  Property tax was introduced in Greece a few years ago and is calculated based on the size of the house and the plot.

  For houses, this tax is calculated based on the size and location of the house and the plot the house stands on. For most (vacation) homes this tax is 3 to 4 euros per square meter built (for a house of about 100 sqm you thus pay 300 to 400 euros in annual property tax). The annual assessment for this tax (ENFIA is the Greek abbreviation) can be downloaded online from the website of the Greek tax authorities. You must have a username and password, which must be requested from the tax authorities. The representative who arranges your tax affairs in Greece (usually an accountant) will have these login details or can request them for you.

  Find a complete guide to taxes on homes in Greece here.