Buying a Residential Property in Greece

If you are interested in buying a residential property in Greece, you will be pleased to know that there are many options available. The Greek capital, Athens, is one of the safest cities in Europe, with wonderful nightlife, shopping, and dining. It is also very accessible year-round. Many people choose to buy a townhouse in Greece, which are terraced houses with communal gardens and swimming pools. Prices in Agrinio are about EUR640 per square metre, and the average price is EUR900 less than in other Greek cities.

Buying residential property in Greece is a complex process, particularly if you are purchasing property in a foreign country. Be sure to use only qualified estate agents. You can find qualified agents through the Hellenic Association of Realtors or FIABCI, the International Real Estate Federation. Alternatively, a London-based association might be able to assist you. Make sure to have a currency account open before deciding on the property you wish to buy.

Before buying a property in Greece, you should decide which types of properties are most suitable for your needs. Popular properties are likely to be a safe bet, but consider buying a less popular property if it is cheaper. Another factor to consider is the condition of the building. Because Greece is an ancient civilization with breath-taking historical architecture, many properties require maintenance. Whether or not this is important to you will determine the final price of the property.

Another important consideration is the currency rate. When you buy property in Greece, you need to make sure that you have sufficient money to cover the cost of the property. If you intend to pay with a foreign currency, you must be prepared for a short period of depreciation. If the British pound depreciates by 1%, the price of your property will rise by PS1,000. This can quickly add up. You should seek legal advice before making a decision on the price of your property.

Before buying a residential property in Greece, you must have all of the relevant documentation. The buyer will appoint a lawyer to perform the legal searches. During the land registry, the lawyer will determine the suitability of the asset. If the asset is situated in an area with restrictions, a lawyer will check whether the location is suitable for the purpose of the purchase. All parties must obtain a Greek tax number before purchasing a property in Greece.

For decades, Spanish and Greek real estate have attracted foreign buyers. Most of these buyers are retirement-aged Northern Europeans who have decided to move to Spain or other countries. The new data suggests that some of these people are also willing to relocate to Greece, especially as the cost of living in Greece is much lower. Therefore, it would not be wrong to consider buying a property in Greece if you are considering a move to the Mediterranean.