“Don't Buy a Property in Crete Greece, before you read those 5 tips”

Don’t Buy a Property in Crete Greece, before you read those 5 tips

Useful tips before buying a property in Crete Greece:

   1. Do Market Research – Don’t hurry!

Take your time, don’t limit yourself to the first broker you’ll find. There will certainly be many real estate agencies in the area so make sure you visit at least a few. Walk around to get a complete picture of the area you are interested in. Check all the available properties for sale. Compare the prices of specific properties in different agencies because they are not always the same. Choose an experienced & certified real estate agent to make you feel safe and secure about your investment and don’t fall into the traps of the market.

  2. Check the location of the property for sale during winter & summer in Greece.

Be sure to check out the area of the property at different times of the year. For example, how developed is the same area during winter compared to summer, what it offers you depending on the season, and what it offers you all year round. Don’t be surprised if you find out that an area is not ‘alive’ during winter. Our advice is to stay for at least one month at the target area to understand exactly how it will be like in the future. Rent a room and try to get close to the local people and the places around. Prefer target areas that will be within walking distance from supermarkets, close to a hospital or health center and have easy access all year round.

   3. Check the privacy & the view of your future property.

If you are looking for a home with view & privacy, make sure it is located outside the center of the village or town so that adjacent buyers will not expand or build in front of your home losing your sight and tranquility. It can be very important for the plot to be sloping rather than flat so that the view remains unobstructed in case other buildings are erected around it.

    4. Choose a trusted lawyer.

The choice of lawyer important. He will check all the papers that accompany the property and consider any «encumbrances» on the property. He will guide you so that the buying process is done safely and reliably. He will also recommend a notary and accountant that you will need later.

    5. Choose an experienced civil engineer.

The engineer will also check if the particular property you have chosen corresponds to your requirements. He will gather all the necessary documents to check the building’s ability and the legality of the property. He will also inform you of the next steps, such as a) building permit b) IKA payments c) construction taxes, etc.


Contact us & our team of experienced engineers will be happy to assist you! We have designed and developed several house renovation & construction projects in Crete Greece.

info@tractus.gr or at +30 28310 30280


Buying or Building a House in Greece F.A.Q.s:


Do I need a Greek Tax Registry Number (AFM) to buy a house in Greece?

Yes you need a Tax Registry Number


Do I need an Accountant to buy a house in Greece?

Yes, you need, as a property owner, you have to pay file an E9 your accountant will help you.


Do I need to pay an annual tax on my property?

Yes you need but it is not a significant amount.


Do I need a lawyer to buy a property a property in Greece?

Yes, he will check all the necessary papers and will secure a successful purchase.


Do I need a Notary public?

Yes, as a buyer you need a notary public and an accountant.


Should I be present when contracts for my new property in Greece are signed?

No, this is not necessary, your lawyer with a power of attorney is enough.


Is it a good idea to buy property in Greece?

Yes, if you are a lover of the Mediterranean climate, food and culture, Greece is a unique land. This place is full of traditions and rich folk heritage. A place that is famous for its warmth and hospitality. Local tastes and local unique products are what every visitor earns.


How much does it cost to build a house in Greece?

The indicated costs (including work) of construction is the sum of 1)building permits & licenses 2)construction costs 3)The supervision fees of engineers.


What is the average price of a house in Greece?

n 2016 a 100sqm apartment in Greece cost 92,200 € on average or 922 €/sq. m., while outside urban areas the average price of a house of the same size stood at 67,000 euros (670 €/sq. m)


What is the cost of taxes and legal fees for property purchase in Greece?

The taxes & fees that the buyer and a seller has to pay is: – Transfer tax from 3,00% to 24% (buyer) – Notary fees are around 0, 8% to 1, 4 plus 24% VAT. (buyer) – Layer fees is around 1-2% plus 24% VAT (buyer) – all formation fees can vary after different agreement between both parties. – Real Estate Agent fees 2% plus 24% VAT (buyer + seller)


What is the land requirement for building a house?

Before buying a plot a buyer with his engineer has to check all the necessary documents that approved the buildability of the specific plot, because the plot in the urban plan has different requirements then out of it.


Is it better to buy and renovate an old stone house or to build a new house?

That perhaps from the new owner’s requirements and his budget. This choice is purely of the new owner because he will waste his time and his money. Buying a property that needs renovation most of the time is faster, because renovation takes less time than a new construction.


What is the Greek Golden visa?

Greece Golden Visa Program. The Greece Golden Visa Program is considered one of the most affordable residence-by-investment programs that provide access to Europe. Successful applicants and their families are able to benefit from visa-free access to Europe’s Schengen Area within two months of applying.


How do you get residency in Greece?

First, you have to obtain a long-stay visa from the Greek embassy or consulate in your country of origin in order to stay for longer than 90 days in the country. When you arrive in Greece you will have to apply for a residence permit (Άδεια Παραμονής / Adia Paramonis) at the nearest Aliens’ Bureau within two months.


Can foreigners own property in Greece?

Yes, anyone can freely purchase property in Greece, while there are a few restrictions for non-EU nationals.


Is Greece a good place to retire?

Yes, Greece is one of the best countries to retire. There are a lot of great reasons. The climate, the sea, the nature and the low cost of living are some of the reasons to retire there. Also, the people are friendly and you will feel always welcome to their place.


Source: Uniq.Properties