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Popular questions about buying property in Greece
Yes they can. The purchase procedure is the same as for local residents.
The Greek Golden Visa is a residence permit obtained through real estate investment.
A residence permit in Greece can be obtained through the purchase of real estate.
The minimum investment in real estate to obtain a residence permit is 250,000 euros. Important: from May 1, 2023, the price for obtaining a residence permit when investing in real estate will double - from 250 thousand euros to 500 thousand euros. The new conditions will be valid only in 36 municipalities of the country (in other regions, the cost threshold will remain the same - 250 thousand euros). Read more here.
Permanent residence in Greece can only be obtained after 5 years of residence permit extension. That is, you first need to get a residence permit and renew it every year. It is impossible to get permanent residence in Greece immediately through the purchase of real estate.
The average cost of housing in Greece is 1900 euros per square meter. In Athens, the cost of housing from a reliable developer is 3,000 euros per square meter.
The total costs of the buyer are as follows:
- Property Transfer Tax 3.09%
- Legal support of the transaction 1.5% (+VAT 24%)
- Notary 1.5% (+ VAT 24%)
- Real estate services 2% (+VAT 24%)
- Registration of the contract in the real estate register 0.6%
The cost of utilities in Greece for an apartment of 85 m² is from 100 euros per month.
The annual property tax ranges from 0.001 to 13 euros per square meter. The calculation takes into account the age of the object, its location and the objective cost per square meter in the region. The rate is progressive: from 0.1 to 1.5%.
Also, the owner of the property must pay an annual municipal tax in the amount of 0.025 to 0.035% of the value of the property.
- Up to 12,000 euros - 15%
- From 12,000 to 35,000 euros - 35%
- Over 35,000 euros - 45%
Rental income is taxed on a progressive scale: