Greece Real Estate & Property

Many people have gone to Greece once, have fallen in love with the place and then dream of owning a house there and probably settle there for the rest of their lives. Some actually do succeed in getting a property in Greece – others are happy with their acquisition while some regret their decision. Most people who have purchased properties in Greece (especially houses) cautions those who are planning to do the same. Such warning especially applies to those considering buying real estate in Greek islands. While the islands are vibrant during the warm season, the atmosphere may change once the tourists leave.


So if you're planning to purchase a house in the islands just because you like the energy it diffuses and you fell in love with the picturesque beach, you need to think again. For the most part of the year, most of the islands are quiet, even lonely. You also cannot take a dip on the ocean during winter, a reason enough to reconsider when you're after only the water activities on the islands.

But then again if you're intent on purchasing a property in Greece, here are a few things you should know. Foreigners are allowed to purchase real estate in Greece. There may be areas wherein, by law, purchases are restricted only to Greeks and EU nationalities but in reality, this does not seem to get implemented.

Websites are a good way of looking at the properties. You're able to view properties you like and evaluate prices without leaving your home. But it would be sensible not to purchase the property until you've seen it up close. When you think you have found the perfect house on the Internet, take time to go to Greece and look at the property. It does not hurt to stay in the country for a little more while because after you've made friends with the local real estate broker, he'd only be too happy to show you what's available on the market. In this way, you would be able to widen your range of choices and your chances of getting a good deal.

Although it's good to have an agent show you around, make sure that he's giving you a fair and honest deal. There are some who sell properties that are outside the town planning zone to natve foreigners. It would really be difficult to get basic utilities like electricity, water and telephone to properties that are not within the planning zone. Try to see if all the other properties in the vicinity have these basic amenities before making the purchase.

In most cases you will be required to get a lawyer when buying a property and it's a really good idea to get one. The lawyer will take care of the legalities and will make sure that there are no hitches involved and that the sale is indeed permitted by law. The attorney's fee varies but can usually be negotiable.

The final sale of a real estate in Greece lies in the hands of the notary public who has the final authority to conclude the sale. The notary public will determine whether or not the sale is legal. For his services, you have to usually pay 1-2% of the amount of sale.