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HOW TO BUY:

EU citizens can purchase property in Greece but people from outside the EU must either set up an EU company or apply to the Ministry of Defence for permission to purchase property. Lawyers in Greece can assist with either of these options.

Below is an indication of how a purchase takes place. Obviously every transaction is different and some can take a number of months to complete.

1. When you find a property that you like, whether land, an old house or a luxury villa, you will need to signal your intent by making an offer.

2. Once this offer is accepted, you may want to enter into a pre-contract which binds both parties provided the lawyers, when they do their searches etc, find nothing untoward with the sale.

3. In order to enter into any contract you will need a Greek Tax Number which we can help you to obtain here on Paxos before you leave.

4. We can also help you to find a lawyer and introduce you to the Notary who will be responsible for the filing of your contract when it is signed.

5. You can give Power of Attorney to your lawyer if you don't want to have to come back to Paxos and sign the contracts yourself.

6. We can also help you to find a lawyer, to whom you can give Power of Attorney, if you see a property that you like on this website but are unable to come to Paxos immediately.

7. Whether you are buying land or a property, it is always worth having your own topographical survey done, even if one has recently been done and we can introduce you to an engineer who will carry this out for you.  

ADDITIONAL COSTS

Tax fee - The tax office will have a valuation for the property and you pay tax on that valuation. Your lawyer will help you and let you know the amount payable.

Notary's fee - The Public Notary, who records the sale and files the contracts for you, charges between 2.2% and 2.5% of the tax assessed value of the property.

Lawyer's fee - The lawyer also charges a percentage but this time of the sale agreed price. This is usually between 1% and 2%.

Survey fee - Costs vary but the average fee for a topographical survey would be about 300 euros.

Agent's fee - Agents charge varying amounts between 2% and 4% for a sale. We currently charge 3%.

LOANS

If you need a mortgage or a loan, please let us know. The lawyers and financial consultants in our team have the necessary expertise and knowledge of the market to help you apply for a mortgage (Housing Loan) or other type of loan here in Greece, should you require this service. This service is currently no longer available.

KEEPING IN TOUCH

If you are buying land or a property here on Paxos, we will keep you informed of all progress by email. You can always contact us for further information or details at any time.

IMPORTANT CONSIDERATIONS

When building your own home or having an old house restored you should be aware of the following:

1. Costs may vary. Make sure that you have considered ALL eventualities and that you retain tight control over the purse strings.

2. It may take longer than anticipated. Things do change, but if you have important deadlines to meet, you must ensure that everyone is made aware of these at the outset and that they are adhered to. This is not easy in Greece!

3. Red Tape can be a nightmare and we would strongly advise you to get professional help with this side of things.

4. A plot of land must be clear of forestry and not be classed as 'forestry land'. It must also be large enough to build the type and size of house you require.

5. ALWAYS get confirmation in writing that the land is 'clear' and can be built on, and that there is legal access to it.

6. Donít forget that you will need to arrange for the installation of utilities such as water and electricity.

7. If offered a combined package from a builder for land and then the building work, you must insist on separate contracts for each and obtain the title deeds for the land before signing the building contract.

8. Make sure you have legal advisers who are capable of providing the assistance you need, who preferably speak English and who understand the way you think as well as the Greek builders, renovators or current owners.

9. For investment purposes you need to consider new properties or building your own villa. If you are carrying out a restoration, you need to ensure that it meets the requirements of the investment market. We can help you appraise these issues.

10. When buying an old property, it is worth arranging for a structural survey before you enter into any contract in order to identify any faults etc.

11. Be aware of the problems you can face in obtaining planning permission when restoring an old property.

12. If you aren't able to be on the spot during the building or restoration work, you should give serious consideration to appointing a project manager to ensure the work gets done to the agreed standard and within the agreed timescale.

These are just a few of the important issues of which you need to be aware. There are naturally many more and we will do our best to help you deal with them.

ALWAYS REMEMBER:

1. You must take LEGAL ADVICE. We can let you have details of a number of lawyers from whom to choose.

2. EMPLOY PROFESSIONALS. We can put you in touch with architects, engineers and builders both on Paxos and on Corfu.

LOCATION, LOCATION, LOCATION

When buying a property as an investment the location is critical. There is strong demand for well-built and well-equipped properties on Paxos, both during the main summer season and increasingly out-of-season too, and you should therefore have no difficulty in renting out your property, provided it is in the right location and finished to a high standard. You will of course also get higher returns from a property built in the right location.

Paxos Property Agency can provide you with extensive advice on the rental market on Paxos to enable you to maximise the return from your investment. This includes advice on the choice of location and also on the features that are most in demand, for example the size of property and the facilities that people renting a property usually want, before you buy or draw up plans for your property.

Even if you are buying or building a property just for your own private use, you will get much more enjoyment from it, if you feel that it is in the right location. You will also have the satisfaction of knowing that it is a good investment and that you will find it much easier to sell when the time comes.

Having already chosen Paxos is, in our opinion, a good start and now itís just a matter of finding the best location on the island for your budget
.

 

SEARCH -
VILLAS FOR SALE
OLD HOUSES FOR SALE
LAND FOR SALE


 


SEARCH -
VILLAS FOR SALE
OLD HOUSES
LAND FOR SALE

RENTAL
PROPERTIES:

Paxos Villa
Holidays

Loggos
Near Loggos Village
Levrekio or Marmari Beaches
Secluded Villas
Villas with Pools
Luxury Villas

Paxos for Couples
Paxos for Singles

Activity Holidays
on Paxos

 


The Greek Property Agency Ltd. - Unit 4, 36 Queens Road, Newbury, Berkshire, RG14 7NE
& on Paxos - Paxos Property Agency, Fontana, Paxos
tel: UK - +44 151 324 3458 or in Greece - +30 26620 31207
email: info@paxospropertyagency.co.uk