Greece and the Greek Islands

I can help you buy or sell real estate in Greece 

Residential Properties and hotels  in the  Greek Islands : Island of Crete, Island of Paros, Island of Santorini (Monolithos and Caldera), Village of Rahes , Island of Zakinthos, Island of Poros, Island of Tinos

As a member of International Networking Real Estate Organisations, I will help you buy or sell homes, properties or any real estate product. I will be your American real estate antenna and refer you to knowledgeable real estate professionals who together with me will serve your best interest.

The Greek Islands 

Before you start looking for properties you should know more about Greece, the greek islands and if this is the right choice for you.  

From the very dawn of history this ancient land has played an influential role in shaping the world as we know it today. It is a country of culture, myth and legend.

Famed for the beauty of its landscape, Greece is unique, for it seems the Greek gods themselves have scattered little pieces of paradise into the sea which we so lovingly know as the Greek Islands.

Whatever your interests, whaterver lifestyle you choose to adopt, you can be sure of the warm welcome from the people of Greece. A healthy climate, good food and wine, a new exciting lifestyle, a dream finally realized.

Geography and climate

The climate is typically Mediteranean, with the winter wet but mild (except in the north where they can be very cold), and the summers hot and dry but cooled by seasonal breezes. The average January temperature in Athens is 50F (10C) and the July average is 82F (28C). 

The islands are divided into six groups- the Cyclades, the Ionans, the Dodecanese, the Islands of the North Eastern Aegean, the Sporades adn the Saronic Gulf Islands. The ones I will mainly be  showing here are the Cyclades Islands which are the ones in the center of the whole group of islands. 

Standard of Living

Over recent years Greece has transformed itself from an agricultural country into a prosperous consumer society with an ever rising standard of living. It has never lost however, the style, simplicity and warm hospitality that characterise village and rural life throughout the country.

Banking Standards

The Euro has been the currency of Greece since 1st January 2002. All major Credit Cards as well as Euro-cheques are recognised and accepted.

Taxation

Greek resident are taxed on their worlwide income, subject to certain treaty exceptions, although citizens of most countries are exempt from paying taxes in their home country when they spend a minimum period abroad e.g. one year

The Greek government has double taxation treaties with many countries including the USA.

If you are not living in Greece but have assets there, you are usually obliged by law to file a tax return listing your assets and any income received from them.

If in the future you decide to sell your property then capital gains tax is applicable as follows:

20% if the sale is made within 5 years of the purchase of the property.

10% if the sale is made within 5-10 years of the purchase of the property.

No capital gain after 25 years.

Inheritance tax is applicable but generous exemptions apply.

Medical Services

The health services in Greece are very good with high qualified physicians and surgeons covering every field of medecine. Residents of EU countries aare eligible to receive free emergency medical care. Medical insurance is always a good idea for additional cover.

Greek Cuisine

As lambs and goats in Greece are free-grazing and the pastures are very rich in herbs, the meats have a unique taste not to be found anywhere else in the world. Seafood from the Mediterranean Sea is by far more tasty that that from the oceans. In the Aegean and the Ionian sea the waters are crystal clear and abound with fish.

The greek meal experience, namely the combination of what you eat and where you eat it, cannot be repeated, exported or duplicated. It is just something you can only find , taste and enjoy in Greece.

How to get there ?

Greece has seven major international airports : Athens, Thessaloniki, Rhodes , Heraklion, Chania, Santorini and Corfu. Greece has also 22 national airports which are hosting regular or charter flights

The beautiful islands are usually reached by ferries: the ordinary ferries, the highspeed catamarans and hydrofoils.

Residency

All citizens of the Eu enjoy their full rights and privileges as EU citizens, including the right to establish residency, buy property, open a business and work in Greece.

For non EU citizens, the granting of a Residential Permit is based on the level of foreign income available to support oneself.

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Buying Property in Greece : Process

Purchasing property in Greece is well regulated and there are a number of steps and statutory checks that have to be carried ut before a property purchase can be successfully completed.

1.The buyer must appoint a lawyer in Greece to search the titles at the Registry of Mortgages.

2. The lawyer will secure copies of the title held by the vendor.

3. The buyer must apply for Tax Registry Number (AFM)

4. The lawyer will represent the buyer to the Notary Public where the contract deed will be signed.

5. The lawyer must transfer at the Registry of Mortgages the contract deed.

THE PROPERTIES PRESENTED HERE ARE ALL SOLD DIRECTLY FROM THE DEVELOPER AND THEY WILL TAKE CARE OF ALL THE LEGAL PROCEDURES FOR YOU. I WILL BE REPRESENTING YOU AND FOLLOW UP THROUGH THE WHOLE PROCEDURE

Expenses

The buyer will have to pay the following mandatory costs as required by Greek Law :

1. Lawyer 1% of the contract amount

2. Public Notary 1.5% of the contract amount

3. Transfer Fees :

from Euro 1 to Euro 15,000 7% of the contract amount

from Euro 15,000 and over 9% of the contract amount

4. If the building permit of a property is issued after 2005 VAT is applicable and must be paid on the amount of the sale and NO transfer fee in that case

5. Registration fee of 0.5% of the contract amount

Registry of Mortgages

In Greece there is no Land Registry but there are public records where transfers of real property and mortgages are recorded. The difference between the Land Registry and the Registry of Mortgages is that in the Land Registry the owner holds an uncontested titel which means that he is secured by the State whereas at the Registry of Mortgages the title is secured by the contract held by the owner.

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