An estate in Greece is an attractive investment
Greece is experiencing a construction boom associated with the arrival of large capital from other European countries, in particular from Ukraine. To date, the residential property market in Greece is one of the most investment-attractive in the European Union.
The estate in Ancient Hellas the price of land here is an order of magnitude lower than in Spain or Italy, and the legislation is so simplified that any foreigner can buy a house or an apartment without special red tape both in the capital, Athens, and on the seashore.
About prices …
If a square meter of a house on the coast of Italy starts from 2-2.5 thousand euros, then on the first line of the coast of the Ionian or Aegean will cost almost twice as much – 1.3-1.5 thousand euros per square meter.
“Basically, prices in the REAL ESTATE market in GREECE depend on the type of construction, proximity to the sea, and the area’s elitism,” says Alexander Tarchenko, director of real estate agency Dec Property abroad. Housing, which is sold at the stage of construction, will cost 20-30% cheaper than ready. Such objects are quite popular in Greece.
As for the land, it is cheaper to sell indivisible PLOTS for building a house. The minimum area of such a plot is 4 thousand square meters.
“Plots within Athens – from 40 thousand euros per one hundred square meters. These are divisible plots, so they are more expensive, ”explains Alexander Tarchenko.
On the popular resort island of Crete, the eastern and northern coasts, the resort towns of Chania and Heraklion, are considered the most developed. Here the price of a nice cottage on the seashore can be 200-400 thousand euros. If you intend to rent your REAL ESTATE for rent, then in one month in a season he is able to “earn” from 4 to 8 thousand euros, and it is possible that in 5-7 years you will discourage your investment in the purchase.
If you are ready to fork out for 700 thousand euros – you can count on buying a three-story villa on the country’s most prestigious seaside resorts: on the Dodecanese, Kerkyra, and Evia islands. It will be a townhouse with a living area of 300-400 square meters with access to the sea, a private pool, a small garden and a lawn with a total area of 50 acres.
Halkidiki for CIS
About 30% of REAL ESTATE IN GREECE are acquired by foreigners. At the same time, citizens of certain states are attracted to certain regions. “It depends primarily on how“ promoted ”one or another resort of Greece in other countries. So, Crete is popular first of all with Germans and British, Dodecanese islands – with Americans. In the last 15-20 years, Halkidiki has turned into a resort for immigrants from the CIS, ”concluded the director of the agency Dec Property.
“I sell a cottage with a total area of 170 square meters on the coast of the sea in Chalkidiki. Last year, he was asked for 250 thousand euros, but the deal was never completed. This year, its cost is 330 thousand euros, there are enough customers, so I’m sure that the house will sell out soon, ”said Alexandro, a real estate agent at Greece Invest.
It is worth noting that for about 300 thousand euros you will be offered a new three-room mansion with a garden for 12 acres and a pool for two villas in the territory of a guarded cottage around the clock.
Apartment in Athens
Prices for residential real estate in the capital of Greece is not much higher than in resort towns. In addition, housing here is acquired, as a rule, for permanent residence. To purchase a three-room apartment of 130 square meters in the most prestigious area of Athens, Cavouri will need about a million euros.
The cost of housing on the outskirts of the city is much cheaper: a one-room apartment of 50 square meters will cost 60-70 thousand euros, a three-room apartment (110-120 square meters) will draw 130-160 thousand euros.
How to make a deal
Land, as well as real estate, in GREECE, without limitation have the right to purchase residents of other countries. At the same time, EU citizens do not have privileges. The peculiarity of the GREECE REAL ESTATE market is the fact that, having received permission from the Ministry of Defense, you can buy a plot in the border area. Land is not sold on the territories of nature reserves, parks, archaeological monuments or forests.
On registration of all documentation will take from two to four months. During this time, you need to file an application with the tax authority and obtain a registration tax number, draw up a purchase agreement with a notary (2% of the value of the object) and register it in the Register of REAL ESTATE or Land Registry, (0.5% of the value of the object).
In addition, if your housing is valued at less than 175 thousand euros, the real estate tax, which in GREECE is 9-11% of the value of real estate, will not be paid.