Tips for buying a house in Greece

After the economic crisis, Greece is still attractive for those interested in buying a second home abroad. The Mediterranean climate, the unique houses and the many small islands make buying a house in Greece very attractive.

How is the Greek real estate market doing?

Compared to other European countries on the Mediterranean, Greece is by far the cheapest country to buy property. In Athens, property prices have fallen by more than 40 percent in recent years. Older, small houses with a swimming pool can now be found in attractive locations for less than 200,000 euros.
Another advantage for potential buyers of houses for sale in Greece is that the seller is now required to hire a civil engineer when selling. This will check whether a valid building permit is available. The buyer therefore does not have to worry about any skeletons coming out of the closet later.

What are the most attractive regions in Greece to buy a house?

Buy a house in the Peloponnese

The southern peninsula on the Greek mainland is a popular region for holidaymakers and home buyers in Greece. In addition to the picturesque villages in the countryside and the fantastic beaches, the Peloponnese also offers various cultural attractions. There are many ruins and places to visit, which bring the exciting past of the country to life. As a second home, the Peloponnese is particularly suitable for home buyers in Greece who want to experience the original Greece.

Buy a house Rhodes

The fourth largest island in Greece is famous for its beautiful beaches. It is one of the most popular holiday destinations in Greece. The beaches are lined with beach bars and restaurants, and the nightlife is also lively. In the west and south of the island, visitors will also find more unspoiled areas. Houses in Rhodes are very popular with buyers. However, the island is still very cheap compared to other islands in the Mediterranean.

Buy a house in Crete

The most populous and largest island of Greece is very diverse. It is known for its good wines and olive oil. The west of the island is almost entirely developed for tourism, the tourist infrastructure with restaurants, cafes and cultural offers is therefore pronounced. The real estate prices of the individual regions of Crete also differ: the west is more expensive than the east. However, an apartment can be bought on the entire island for much less than 100,000 euros. Many Dutch people buy a house on Crete.

Buying a house in Athens

The Greek capital is located on the Greek mainland. The great philosophers of antiquity, such as Socrates or Aristotle, already enjoyed the flair of the city dominated by the Acropolis. It is the cultural and economic centre of Greece. Therefore, the city offers something for everyone. Since 2008, house prices there have fallen by 40 percent. People who love culture buy a house in Greece.

What are interesting properties for sale in Greece?

Townhouses: Houses in the city are cheaper than ever. In no other European city will potential buyers find such cheap but beautiful houses as in Greek cities. A renovated house in the old town of Rhodes with 86 square meters costs less than 200,000 euros. View houses for sale in Greece here.

Apartments: Apartments in Greece are usually a bit cheaper. But they are often located in attractive places near the beach or in the city. A 100 square meter apartment in Rhodes costs around 150,000 euros.

Villas: Detached villas right on the beach are the dream of investors and holidaymakers. They are more expensive than townhouses, but offer a location and a sense of life that is unaffordable in other countries. Buying a house in Greece is therefore very worthwhile.

Islands: There are more than 3,000 islands in Greece. Only a fraction of them are permanently inhabited. Due to the ongoing privatization of state property, some real estate agents even offer islands for sale. The cheapest cost around one million euros. For a large island with cliffs, several sandy beaches and harbors, an amount of around 45 million euros is estimated. So far, around 500 islands are owned by private owners. Especially celebrities and the wealthy have been interested in buying entire islands so far. However, due to the growing supply, other investors are also becoming increasingly aware of this.

What to look for when buying a home in Greece?

• In order to make buying a house in Greece attractive again, the Greek government has decided to reduce the transfer tax from ten to three percent. This makes real estate particularly interesting for foreign investors.
• The total additional purchase costs are lower than in most places in Europe. The cumulative additional costs amount to about seven percent.
• The annual property tax is relatively low. It depends on the size of the house, as each square meter is taxed with three to five euros.
• According to the Greek property tax law, there are two taxes on houses. The main tax is calculated with the basic tax. It is between two and 13 euros, depending on the zone in which the house is located. The additional tax applies to all luxury properties. These are houses and apartments with a value of more than 300,000 euros.

See below for houses for sale in Greece:

Buy a house in Ionian Sea
Buy a house in Chalkidiki-Khalkidhiki
Buy a house in Peloponnese
Buy a house in Mykonos
Buy a house in Corfu
Buy a house in Crete