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Buying Overseas. Greece

The Process in Easy Steps:

  • Having found the property you wish to purchase on our website, contact Bluca Properties Limited to make sure it is still available
  • They will reserve the property for you and advise you where to make the initial deposit to.
  • Contracts will then be issued and will be reviewed by your lawyer.
  • Bluca Properties Limited strongly encourages you to retain the services of an independent lawyer to assist you with your purchase. Laws vary from country to country and it is imperative that you have local legal representation to safeguard you during your purchase. Should you wish, Bluca Properties can recommend and independent lawyer who can facilitate you in this regard.
  • Once you have signed the contract and returned it you will be required to make the initial payment.
  • From here forward you will continue to make stage payments in accordance with the terms of your contract.
  • Once your final payment has been made the property will be registered in your name.
  • All that is left to do is pick up the keys and start enjoying it!

Additional Associated Costs:

  • Legal fees: These are approximately 1-3% of the purchase price
  • Notary fees: These are approximately 1.5% of the purchase price
  • Transfer Tax: These are approximately 9-11% of the purchase price of the property. This tax is the equivalent of a stamp duty.

Capital Gains Tax:

  • Capital Gains Tax in Greece is based on a decreasing scale depending on how long you own the property.
  • For example: If you sell the property within the first 5 years then CGT is at a rate of 20%. If you choose to hold onto you property for 20 years there is no CGT due in Greece. If you sell in between these two time periods variant levels of CGT will be applied to the sale
  • There is a double taxation agreement in place between Greece and Ireland