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Things You Should Know Before Buying A Real Estate Property In Greece

Things You Should Know Before Buying A Real Estate Property In Greece

Are you planning to buy a house, or any kind of real estate property in Greece? We got you covered. In this article, we will provide you with some of the basics of buying real estate property in the Greek country. On the other hand, if you are looking for more articles concerning real estate in Greece, you can visit this link – https://hmconstruction.gr/blog/pws-ginetai-nomimopoihsh-aftheretwn/. Without further ado, let’s start:

Why real estate properties in Greece became so appealing

Greece has turned into an ideal investment location within the previous number of years, due to the fact the region is naturally wonderful, features a moderate climate, and diverse geography even in close locations. Having said that, the interest in real estate properties in Greece stems from the fact that prices of properties there is quite low. This is the result of the 2010 financial crisis in Greece.

As a result, people from around the globe have become interested in buying Greek properties, treating it as a good investment. Most people are hurrying to profit from the large quantity of high quality properties obtainable at inexpensive prices.

Greece is a country that is a member of the European Union, which means that laws enacted by the EU also applies in Greece. Aside from that, Greece is also a member of the eurozone, which means that prices are quite stable there. The majority of real estate in Greece tend to be freehold. The laws and regulations related to the purchase and possession of real estate property in Greece are given by the Hellenic Constitution as well as the Civil Code. 

Various kinds of acquiring real estate in Greece

There are numerous methods for obtaining a real estate property in Greece. If you want to invest in a property, you have two options which will be listed and discussed below.

  1. Contract acquisition

The purchaser and owner show up at a notary public. Both parties signs a deed, which is then registered to the local land registry for confirmation.

  1. Public auction acquisition

Electronic auctions are being held in Greece nowadays since 2017, which makes it a handy way of acquiring Greek properties. With the electronic auction, it is possible to subscribe online. The auction is available for viewing to the general populace, and you can always find new properties posted on a journal that is being updated weekly.

Acquisition procedure

Once you have a property chosen, you should hire a lawyer to conduct all of the legal requirements, such as title searches. You will be issued a tax number, and a survey of the property will be conducted as well.

After that, you will have to pay a transfer tax, also known as stamp duty. This tax is a flat 3 percent rate of the value of the property you are buying. Complete the contract acquisition as stated above, and register with the local land registry. After that, the property is ready to be registered online.

Brent

Brent

Brent Payne loves exploring the world and sharing his experiences, insights and opinions about the latest happenings in the world. Educating people through his stories is what he is passionate about

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