Procedure of property purchase in Greece

Like any other business decision, the buying procedure begins with a choice, namely with the selection of suitable properties. To narrow down the search process among a huge number of different proposals, it is necessary to determine those basic parameters which apply to your case:

• The future purchase budget corridor – the price borders which you are ready to act within
• Location – priority areas where the property must be located (in descending order, if there are several areas)
• Landmarks: an active urban centre, a quiet suburb
• Whether you prefer a sea or mountain view
• Property type: apartments (with garden, without), penthouse, duplex, studio
• All information concerning the approximate project plan of the object – number of rooms, bedrooms and bathrooms, the desired area (general and separate for each room), etc.
• All necessary infrastructure availability and proximity: shops, cafes, restaurants, schools, kindergartens, main roads, airports
• Stage: new building, secondary market, project state

Once you have decided on the most complete description of the future acquisition, you will need to choose between two options

Option 1 – Independent search in the catalogue

At this stage, you may, without the participation of our specialists, review the objects (presented on our website) in the selected category, using convenient navigation, to optimize the search by sorting out the request for the city, real estate type, price, number of bedrooms, availability of certain additional options. Through our website, you will be able to see the exact location of the selected building on the map, using the "Show on map" button – upper right corner of the page. Each proposal you are interested in can be studied in more detail, including photos, descriptions. analysing the advantages of the selected properties, noting down favourites and using the compare functions to see the real differences between your property choices.

Option 2 – Using help of PPG Managers

You may also use the extensive expertise of our PPG Managers to fully advise you on your selected properties. You may call us through the phone, order a callback, write an email or ask questions in online chat. Whichever option you choose, the next step is a study tour, where you can personally inspect all the properties that interest you, accompanied by our company’s competent PPG Managers.

For more detailed study of all the options for a future purchase, having approved the preliminary program of the visit and agreeing on other main points (booking a hotel or making a short-term lease contract for a temporary accommodation place, settling questions about the documentation required for a trip), You may then proceed with an orientation tour.

Once your tour is successful and the final choice has been made, what's next? A preliminary contract, which allows the buyer to reserve the selected option (usually for a period of up to 1 – 1.5 months), and make a reservation deposit, which is 5–10% of the property value. At this stage, the transaction’s legal substance is also checked and its final conditions agreed.

The licensed lawyer can be entrusted with the verification of documents and property, preparation and agreement of the contract.

For a foreigner to purchase a property in Greece is required to issue a tax registration number. An authorized lawyer or legal representative can apply and obtain it on buyer’s behalf. The tax number is registered on the sale contract and presented to the notary at completion.

Opening a Greek bank account is optional. It is not compulsory since the buyer can directly transfer the payment for the property purchase from his bank account to the seller’s bank account. Although, it would be essential for any upcoming payment and the rental collection, in the case you decide to rent your property. To open a bank account quickly, you may use legal help. Should the procedure not be clear or if you require further clarifications at this stage, our staff can help you further.

Before signing the final contract, the transfer tax application is submitted to the Tax Office. This statement is prepared by the Notary and is accompanied by the calculation sheets of the value of the property. It is signed by the buyer and the seller and is submitted by the buyer or by an authorized person to the Capital Department of the Tax Office that owns the property. After transfer tax is paid, you may proceed to the final transaction stage.

After the completion of the collection of all the required documents by the seller, which are precisely identified by the notary, the submission of the property transfer tax application to the competent Tax Office and the full payment of the purchase amount to the seller, the final contract is signed before the notary between buyer and seller, in the presence of their attorneys. The notary or the lawyer will then register the property title to Cadastral Authorities and/or Land Registry, in the area of the property. A copy of the sales contract will be kept by the notary, while he will give certified copies to the buyer and seller.

The accountant registers the property to TAXISNET, Greek State’s financial and insurance information platform

After the purchase procedure is completed, the most exciting stage begins – the stage of arrangement. At this step, you may also rely on the experience and knowledge of Prime Property Group specialists to guide you through starting a new life in Greece.

Ongoing support

If you have any questions about how to buy a property in Greece, our specialists will answer questions, help you dispel doubts and help you choose and purchase any property you like.