Paxos Property Agency - Villas, Old Houses & Land for Sale on Paxos

Availability:

There is a fair amount of land available on the island of Paxos. However, the price is rising quite quickly and in some popular areas, such as in and around the village of Loggos, land is already in short supply.

Advantages and Disadvantages of Buying Land:

Buying a plot of land and building a new house is just one of the ways of acquiring a property on Paxos. The advantage of choosing this option is that it enables you to have a property tailor-made to your own design and equipped with all modern facilities. The disadvantage is that it can take up to two years from the time you complete the purchase of the land to being able to move into your house. However, provided you are prepared to wait this long, this is the option we often recommend, especially to clients who are looking for maximum equity or interested in renting out their property, when quality and location are so important.

Location:

The first thing you will need to do is to decide how important a sea view is for you. If you are looking for an investment property to rent out to a tour operator, a sea view will certainly help you to obtain a good price and a fair amount of interest. However, sea views are considerably more expensive.

Other important factors are how close you want to be to a beach or to the sea and whether you want to be in or near one of the main villages of Gaios, Lakka, Loggos, Magazia or Fontana.

You should also consider whether you want to be on a track away from the road, or whether you are happy to be near to a road. The roads on Paxos are never as busy as in the UK!!!

Land Classification and Size of Plot:

You will then need to consider what size plot you want. We work in square metres and 1,000 sq metres is a stremma. Size of plot is an important issue when considering the building potential of the land. In certain areas of the island - outside a village and over 500 metres from one of the main villages - you need a minimum of 4,000 sq metres of land in order to obtain permission to build anything! Within 500 metres of one of the villages you only need 2,000 sq metres and in a village the rules are a lot more relaxed.

The size of villa you want to build will be an important consideration in determining the size of plot you will need and again we work in square metres. On a plot of 4,000 sq metres or 2,000 sq metres close to a village you can be fairly certain of gaining permission to build a house with a total floor area of 200 sq metres, as long as it is built sympathetically in the Paxiot style and the land isn't classed as ‘forestry land’. 200 sq metres is a large villa!

’Forestry land’ is land for which you will not get building permission. All land needs to be clear of forestry and you need confirmation of this along with confirmation of the size and the boundaries of the plot.

Help with Getting Started:

We can introduce you to an engineer to carry out a topographical survey to confirm the size, classification and boundaries of the plot before you buy and this is highly advisable. We can also introduce you to lawyers, architects and the notary who will assist you with all aspects of the purchase.

Once you have bought the land and are ready to start building, we can introduce you to project managers who will assist in the building process and put you in touch with builders and developers on Paxos and Corfu.

Additional Costs:

Just to give you a very rough idea of costs at this stage, you will need to allow between 15% and 18% of your purchase price for taxes, lawyers, agents fees etc. To build a house you will need to allow between 1,200 euros and 1,500 euros a square metre depending upon the difficulty of the build. If you want particular top of the range additions to your house or villa, these may increase this guide price considerably. So, for example, if you want a two or three bedroom villa of 100 sq metres, this will cost between 120,000 and 150,000 euros to build.

Timescales:

You need to bear in mind that all processes here in Greece take much longer than you may imagine. It may well take three months to complete the purchase, the planning permission, if you are lucky, may be through in a further three months but can take much longer and building can take many months!! So it is best not to be in a hurry and you may then be pleasantly surprised with the rate of progress. It goes without saying that we will do our best for you at all stages, even after you have completed the purchase of the land and while your villa is being built. You can easily contact us by email or phone and we speak English!

Guide Price:

The price of land and property on Paxos is rising fairly quickly at the moment. We have therefore decided to provide a ‘Guide Price’ for the land and properties on this website rather than a fixed price. It is always possible that you may be able to persuade an owner to accept less than the ‘Guide Price’, but on the other hand you may have to pay more. We try to keep the ‘Guide Price’ for each property up to date and most of them are accurate. However, please be aware that in the present climate even when an owner has agreed a price for his property he may subsequently decide to increase it. You might therefore like to consider entering into a pre-contract with the owner but should discuss this with your lawyer.

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Paxos Property Agency, Car Park, Loggos, Paxos
tel: 0030 26620 31207 - email: info@paxospropertyagency.co.uk