Other Costs when you Buy Real Estate in Greece

Stages of the purchase:

1. Find a property that you like. You can buy through agents or directly from the owner/developer. In Greece, agents charge both the seller and the buyer. The rate is more or less the same for everyone: 2% from the buyer and 2% from the seller.
2. Once you have chosen a property, the question arises of selecting a lawyer who will represent your interests. Usually, the agent will recommend someone. Lawyers charge around €2-3k or 1.5-2% of the property’s value. If the value is >€300k, they try to take a percentage, and if it’s lower, they opt for a fixed fee.
3. The lawyer performs several tasks for the buyer, including:
   a. Checking the property for any encumbrances at the local registration authority.
   b. Acting as your “feet” by registering you with the local tax authorities and obtaining your AFM/Tax ID (required for the purchase).
   c. Sitting with you at the notary’s office and translating/explaining what the notary reads in Greek. Alternatively, a translator may be called, and the lawyer will nod to indicate that everything is going well (the actual work is done by the notary).
   d. After the transaction, the lawyer will submit the purchase contract for registration with the local Hellenic Cadastre. You will receive confirmation/certificate approximately 2-3 months later. It’s important to complete this step, but the ownership right itself transfers upon signing the notarial purchase contract.Having a lawyer is especially convenient if you are buying remotely. You simply grant them power of attorney, and they will handle everything, including signing the “purchase and sale” contract.

   In principle, anyone can handle all the “tasks” of the lawyer since you mainly pay for their representation, except for checking the property for encumbrances – this service can be purchased separately (around €400-500 per property).

4. Notary – property transactions in Greece take place only at the notary’s office, and essentially, the notary assumes full responsibility for the legality of the transaction. If there is anything dubious, the notary will refuse to proceed with the transaction as they bear the responsibility. The notary’s fee is also calculated at around 1.5-2% of the property’s value. They have official fees (established by the government) and a portion for their services (office, staff, etc.).

Summary:

2% agent
~2% lawyer
~2% notary
Property tax/stamp duty: 3.09% (calculated based on the cadastre value or the value stated in the purchase contract, automatically selecting the higher amount).