Buying a property in Greece bears various associated costs & fees which are approximately a 10% of the purchase price and are the following:
Notary fees
The Notary fees related to the purchase contract of the property are paid from the buyer and are covering the drafting and approval of certificates provided by the sellers and also the additional legal copies of the deeds.
These fees are approximately 1% of the purchase price plus 24% VAT although can considerably vary depending on the pages number, number of legal copies of deeds etc.
Legal Fees
These are the lawyer fees that represent the buyer (your Power Of Attorney).
These fees are freely negotiated between the two parties and are approximately 1% of the purchase price plus 24% VAT but can change according to the demands of each case and the services provided by the lawyer.
Estate Agency Fees
The agreement with an Estate Agent for buying or selling a property in Greece should be written and signed by the two parties and can be also confirmed with an e-mail or a fax and have the same legality as a property mandate.
This fee is 2% – 3% plus 24% VAT calculated on the purchase price of the property yet this agreement may be different depending on the case, the value and also the complications of the transaction.
The legal framework for the conditions on the Realtor services as well as the rights and obligations of the Estate Agents are described by the Greek Law No 4072/2012 (Articles 197-204).
Land Registry/National Cadaster Fees
The fees related to the registration of the Property transaction in the relevant Land Registry and/or Cadastral Office are approximately 0.7% of the property value.
These costs are a bit higher for lower value property registrations.
Property Transfer Tax
The purchase tax of a property is paid before the contract signature to the State from the buyer and it is calculated upon the selling price. This tax is 3.09% including community taxes.
In some cases the transaction falls under the law of new buildings when buying from a
constructor, for houses that their building permission is issued after 1/1/2006.
Then the buyer has to pay a 24% VAT during the transaction.
Civil Engineer/Structural Survey Fees
Additionally the buyer may ask for a structural survey of the property before his/her decision to buy which is undertaken from a Civil Engineer and its cost depends on the details of this survey.
