Purchase costs buying a property in Greece - Immo-Laconia Real Estate

Purchase costs

Basis of assessment for the taxation percentages listed below is either the price as recorded within the purchase contract or the objective value (Antikimeniki aksia) as determined by the tax office, whichever is higher. Excluded from this rule is our brokerage commission which is based on the real purchase price.

The incidental purchase costs are:

REAL ESTATE PURCHASE TAX: It is 3.09 % for land plots and for buildings that were approved and constructed by 31.12.2005; however. In the case of buildings that have been approved and constructed on or after 01.01.2016, 24 % VAT will be charged if it is a first time purchase, 3.09 % for any following purchase. In addition, a council tax applies; it is 3% of the above mentioned property purchase tax.
NOTARY AND NOTARISATION COSTS: On average, they amount to approx. 1 % - 1.5 %, additional costs for desired contract transcriptions, for the final registration of the property at the land registry or cadastre office, etc. In all cases, the statutory value added tax of currently 24% is applicable to each fee.
ATTORNEY'S FEES: These may be agreed individually between lawyer and client; otherwise, they usually amount to approximately 1% of the purchase price. In addition, if necessary, additional costs for special services. In all cases, the respective fee is subject to VAT at the current rate of 24%.
OUR BROKERAGE COMMISSION: In Greece, it is common that a broker acts for both parties, for the seller as well as for the buyer, so that both have to pay for the service. Our commission for each one is officially staggered in the following unit rates: 2 % from the real purchase price if this is 100,000 € or higher, 2,000 € lump sum if purchase price is between 100,000 and 50,000 €, 1,500 € lump sum with purchase price lower than 50,000 € - or we agree with you an individual commision amount. (See also Brokerage and fees in Greece)

DISCLAIMER

All information is given without guarantee and is based solely on information provided to us by our client. We assume no responsibility for the completeness, accuracy and timeliness of the information. Mistakes, changes and intermediate sale are reserved.

Purchase costs

Data privacy

Contact, Imprint