You’ve just bought your dream home in Greece, and you’re getting ready to move in. There are a few necessary steps before you spend your first Greek summer in your holiday home.
In this article, we’ll cover electric connections, home insurance, expected maintenance costs, tips for getting to know the locals, and more.
Utilities
One of the first things to do when settling into your new home in Greece is to change the utilities to your name. In this section, we’ll cover electricity and water connections.
Electricity
To add your name to the electricity bill, you can apply with any electricity company in Greece. There are a variety of suppliers, but most of our clients choose “DEI” (or ΔΕΗ) in Greece, which is the Public Power Company. You can submit your application with any DEI office in Greece, regardless of where the property lies.
Online Options
Alternatively, you can register online at “myDEI“, an easy to follow website that lets you control your electric plan digitally. MyDEI even has an app for your mobile phone. In select cases, it may be required to go into a store, but in most cases the whole registration process can happen through the myDEI website or app, and we recommend this method to our clients.
Other Providers
Some of the other popular electricity suppliers in the Greek market are the following:
– Watt + Volt
– Heron (Ήρων)
– Elpedison
– Volton
– Zenith
– Protergia (Πρωτέργια)
Note that someone else can also make this change for you. In that case, authorization is required, which is given via a notarial Power of Attorney or a simple authorization with your signature validated through e-Gov services.
What Documents are Required?
– Your AFM (Tax Identification Number)
– Proof of identity
– Property rental or purchase contract
– A recent electricity bill from the previous tenant/owner or the service number on the electricity meter
*In some cases, a certificate from a licensed Electrical Installer with an electric plan of the property will need to be supplied, but only if the previous one was submitted to the DEI more than 14 years ago.
Water
The water supply in Greece is managed through local providers, of which the two largest are EYDAP (ΕΥΔΑΠ) for Athens and EYATH (ΕΥΑΘ) for Thessaloniki. Each local office may require different documents to put your name on the water bill apart from those listed below. You will sometimes need to visit the local water company in person or send an authorized individual, as we mentioned above in the electricity section.
What Documents are Required?
– Your AFM (Tax Identification Number)
– The purchase deed
– The water connection serial number (a bill, for example, with the connection number listed.)
How to Find the Local Office
You can find the exact address of the closest service point to your home on the most recent water bill, or you can search for it here.
What Else Should I Take Into Consideration?
When you apply for a new connection, check that there isn’t any unpaid debt from the previous tenant or owner of the property. You can also check the Energy Performance Rating of your property to know the energy efficiency of the building.
Water Connection in Rural Areas
In rural areas, you might have separate connections for drinking water and for irrigation water. For other considerations on your future home’s location, read about the positives and negatives of urban and rural areas in Greece.
When Can Public Utilities be Transferred to the New Owner?
Public utilities and the associated bills can be transferred to the new owner’s name as soon as the notary purchase deed is signed.
Internet and Telephone
Similar to your electric bill, internet and telephone supply in Greece are provided by many carriers. Some of the most popular are Vodafone and COSMOTE. Before making your decision, it is definitely a good idea to do some research in the area, especially for Wi-Fi or fiber-optic coverage.
Postal Service
The Hellenic Post is the state-owned provider of postal services in Greece. The day-to-day postal services may differ depending on the area. Many small villages or islands, for example, do not have specific addresses (street names and numbers). In these cases, mail is delivered at a central point and needs to be picked up there. Apart from Hellenic Post, there are various courier services, like ACS or Speedex. It is advisable to refer to the previous owner or the construction company for informed advice.
Annual Taxes
ENFIA
ENFIA is the main ongoing tax you will pay on your home in Greece. It is calculated based on your tax zone and is therefore higher in more desirable areas (think Mykonos, Santorini, and the centre of Athens) and is lower in the countryside. Usually, for properties in the countryside, it is 3-4 euros yearly per built square meter. For example, a home of 100 square meters would have ENFIA taxes of 300-400 euros per year (depending on the exact location). In the case of unbuilt plots, ENFIA costs are very low.
Rental Tax
Note that if you don’t plan on renting out your home in Greece, this section won’t be relevant. If you plan on renting out your property, you will need to pay tax on rental income in Greece. For individuals, progressive tax rates apply to rental income and are calculated per owner on the gross rental income of the property.
- Up to a rental income of €12,000: 15 percent
- Between €12,001 and €35,000: 35 percent
- Over €35,000: 45 percent
Benefits of Co-Ownership
In general, it benefits couples to buy with two names rather than one because the above tax rates apply per owner.
With two buyers, the tax brackets are as follows:
- Up to a rental income of €24,000: 15 percent
- Between €24,001 and €70,000: 35 percent
- Over €70,000: 45 percent
In cases of high-income rental properties, it might be advisable to purchase property as a company because you can deduct expenses, costs, and the depreciation of the building. Company tax in Greece is 22%. To see how you can make a purchase as a company, contact us. Our legal team would be glad to help you explore this option.
TAP (Telos Akinitis Periousias)
TAP is a tax from the municipality and is the smallest of the taxes listed. TAP is usually only a few euros and is charged to your electricity bill.
Finding an Accountant
Whether you bought an existing property or a new development, one thing remains certain: an accountant in Greece is necessary for your yearly tax papers. When your Greek Tax Number was issued through Elxis, a local accountant was added as your tax representative in Greece. You may keep using the services of this accountant or choose any other accountant in Greece for your yearly tax obligations.
Benefits of Having a Greek Accountant
If you own a home in Greece you’ll need to file a tax return every year, even if you don’t rent out the property. Your accountant will help you file your taxes and keep track of ENFIA payments (the main annual property tax in Greece.) Your accountant will also inform you about upcoming changes in tax legislation in Greece.
If you rent out your property in Greece, your accountant can submit the relevant bookings to Greece’s tax authorities. This way, you can be sure you are always compliant with Greece’s rental laws, and can avoid any unwanted fines.
Owning a Vehicle
Paying annual taxes on your car or motorbike in Greece must be done online. You can pay through AADE’s myCar platform. Payment receipts typically include a QR code so that you can pay through mobile banking. The above is just a summary of the property taxes in Greece. As a new homeowner, you are strongly advised to stay in regular contact with your accountant and make sure you “catch up” on your Greek tax obligations every year.
Renting a Vehicle
Some new homeowners in Greece decide to rent a car whenever they visit. This can sometimes be more cost-effective than buying a car in Greece, and cars are available for rent near most major airports in Greece.
How Much Does It Cost To Rent A Car In Greece?
The cost of a rental in Greece depends on many factors, like the size of the vehicle, how long you are renting, and where you are picking up the car. Generally, you can expect to pay 30-100 euros daily for a rental car.
What Documents do I Need to Rent a Car?
To rent a car in Greece, you will surely need the following:
- A valid driver’s license
- Valid passport (don’t bring an image; you need the hard copy)
- Credit or debit card for payment
- Any necessary insurance documents
Home Insurance
Greek law does not require home insurance, so insuring your property is not mandatory but is surely recommended. If you are the owner of a new development, note that the construction company’s insurance has probably expired on the date of delivery. There are various insurance agencies throughout Greece, with plans provided for every budget.
Maintenance of Your Home in Greece
Pool & Garden
Maintaining a pool and garden can cost between 150 and 350 euros per month. Of course, these costs can change based on the style of the pool and the size of the garden.
Annual Upkeep
Most homes in Greece (and anywhere else, for that matter) require updates like painting, polishing, and repairing over the course of years of use. In Greece, it is recommended that pergolas or wooden items that are exposed to the sun be repainted so that they continue looking new. Costs for annual upkeep for an average home can vary from 1,000 to 4,000 euros per year, depending on the quality of construction and furniture.
Getting to Know the Locals
No matter where your home is located in Greece, it will benefit to get to know the locals. Greeks are generally hospitable to foreigners and love to hear more about your life story and interests. So, what are the best ways to get to know the locals?
Visit a Local Taverna
Eating at a Greek taverna is a central part of life in Greece. It often involves sitting down for hours with family and friends around a restaurant table. The food is always fresh and local, with minimal ingredients and flavours that are complemented by the beautiful Greek landscape.
Greek waiters are informal and might even sit down at your table if it’s not a busy evening.
Greeks will talk about anything and everything at the dinner table. This is part of the social culture in Greece. Get ready to share your opinions and to be asked very direct, personal questions. Greeks are naturally curious about visitors and will ask you about your political opinions, your marital status, your salary, and your religious beliefs.
Read more about Greek taverna culture in our complete guide here.
Visit a Local Coffee Shop
You haven’t truly experienced Greece until you’ve sat in a traditional “kafeneion” (coffee shop). In Greece, coffee shops are more than just a quick stopping point. Unlike the “to go” culture in many western countries, a kafeneion is a place to slow down and enjoy time with others.
Coffee is not just a beverage or a “shot of energy” like in other countries. It represents a lot more, especially for foreigners visiting for the first time. A Greek coffee is one of the first signs of hospitality to a foreigner, and it often leads to a meal, a new relationship, a heated discussion, or a lifelong friendship.
In a coffee shop in Greece, the locals have a way of finding out everything about you, and they ask many questions. Greeks are naturally curious in this way. They might ask where you are from, what you are doing in Greece, and where you will travel next.
The kafeneion is also a place where you can get advice on just about anything or find anybody you need. Also, if you are new to a region, you can learn what places in the area there are to explore. Read more about Greek coffee shops in our complete guide here.
