Greek Property, Greek Properties, Real estate Greece, Houses for sale in Greece

Properties in Greece are good value, the cost of living is low – more of your money, and more for your money.

Below you’ll find a guide to what it will cost to buy a Greek property, and to run a home In Greece. All prices are reasonably up to date at the time of writing, and we do update regularly. Greek Property purchase costs will vary depending on the building or real estate , so it’s a good idea, once you have made a decision, to check that you have everything correct.

A couple will only need around £12,000 per year as an income to live on and run a car – amazing value, and you’ll live the rich life in the sun !

Budget	Furniture/Appliances	International removals	Cost of Living
House Running Costs	Car Running Costs

Budget for your Property In Greece

The Capital Costs below are based on the purchase of a typical 90m2 Greek property with 2 bedrooms, 2 bathrooms, kitchen and a spacious living area with a purchase price of £90,000. (150,000 Euro) and an assessed property value of £60,000 (see Purchasing Procedures on The Next Steps page)

Capital Costs

                                House/Villa                                    105,000
                               Greek Purchase Tax                          7,700
                               Legal fees & Notary fees                  1,400

                                Total Purchase Cost:              £114,100 or 165,000 Euro

Cost Of Living (see below) £12,000 per year

(For a house with a purchase price of £60,000, assessed property value of £40,000, the Total Purchase cost would be approx: £65,200)

The custom in Greece is to keep down the declared value of the property to reduce legal fees and property taxes. The one time purchase tax (which is the Greek equivalent of our stamp duty) is calculated at between 9% and 11% of the assessed property value for plots of land. For apartments and houses the charge is between 11% and 13%. The Inland Revenue will base their assessment on special tables issued by the Greek Ministry of Finance. The tables help determine the value of the property according to its merits, i.e. location, nature, quality of construction etc. The assessed value will usually amount to around two thirds of the true purchase price.

The Notary Public fee is between 1% and 2% of the assessed property value

Lawyers charge between 1% and 2% of the assessed value as recorded on the contract of sale.

To the above cost of purchasing your property you should make an allowance for either buying furniture and appliances in Greece or transporting your furniture and household effects from the UK Illustrated below is the cost of a basic Greek furniture package and an example of specialist International removal company fees.

Furniture/Appliances

To give you an idea of the price of furniture and kitchen appliances our Greek associates have priced a typical starter package as an example.

Electric cooker	£350 (500 Euro)
Fridge Freezer	£350 (500 Euro)
1 x double bed	£275 (400 Euro)
2 x single beds	£350 (500 Euro)
Dining table and 4 x chairs	£350 (500 Euro)
Three piece suit (1 x sofa & 2 x easy chairs)	£730 (1200 Euro)
Patio furniture (plastic table & 4 chairs)	£90 (150 Euro)
Total cost	£2586 (3750 Euro)

International Removals

Based on a 20ft (1000 cubic feet) container, containing 25% small & 75% large items, Packing and loading in Birmingham to deliver to a Greek property in Iraclion, Crete, Greece.

Total Cost: £4,000

Price includes: packing, loading, Sea Freight, C/Clearance, delivery, unload & place based on easy access not above first floor.

Price excludes: Duties, taxes, rent & storage.

Our International Removal Company has helped many of our client’s move to their dream property in Greece and would be pleased to quote for your individual requirements. Please contact us for details.

Cost Of Living

The cost of living is substantially lower than in most countries yet reflects a comparable standard of living and a wonderful quality of life. Add a very low crime rate, low pollution, and plenty of sunshine and you have an extremely attractive package.

A couple living in Greece can expect to require an annual income of around £12,000 (17,000 Euro)

Example: -

House running costs + food	7,384
Two people eating out twice per week	2,080
Car Insurance	310
Petrol 5,000 miles per year at £2.25p per Gal	360
Return trip to the UK to visit family and friends	600
Contingency fund	1266
Total per year	£ 12,000

How does that compare with your costs in the UK ?

The detailed breakdown of these costs is illustrated below.

House running Costs

House Running Costs for 2 people for one year.

Water	150
Electricity	400
Heating	400
House Insurance	350
Food for 2 people eating in.	6,084
Total	£7.384 or 10,700 Euro

There are no rates on property in Greece if the building is less than 150m2

The utilities costs are relatively inexpensive (see above):-

Water is precious and charged as and when you use it. There is a small standing charge per two months. Electricityis charged as and when you use it, with a minimal standing charge per months. The supply is 220 volts. Expect an annual cost to be typically about £300. Telephone is charges as you use, with a small standing charge. Refuse disposal and street lighting is included in the Electricity bill . A one-off connection charge is usually payable for utilities.

(NB an exchange rate of 1.45 Euro to the £ sterling has been used)

Car Running Costs

To purchase a small saloon car in Greece (Fiat Panda or similar) would cost around £5,500 (8,000Euro)

Fully comprehensive insurance and road tax is likely to be about £310. (450 Euro)

Petrol is about 58p per litre (0.75Euro)

Car Rental will be £20-£30 per day, depending on size and duration of hire. For 15 days plus, the smallest might cost £18, and a 4WD between £25 and £40

For further Greek property details or to arrange a viewing trip please complete the “Greek Contact Us Form”

With over 20 years of experience our Greek property services include

A comprehensive property portfolio including Alonissos property, Crete Property, Peloponnese Property, Zakinthos property, Skiathos property and Skopelos.

Greek Property search to match clients requirements,

Greece property sales and acquisitions,

Financial planning, budgeting and advice on buying Alonissos property,Crete property, Peloponnese property, Skiathos property and Zakinthos property.

Full legal service and advice for property purchasers in Greece,

In house architectural designee, project management and property construction,

Help and assistance in obtaining mortgages for Property Purchase in Greece,

Greek property viewing trips arranged,

Help in opening a Greek bank account,

Greek property house and contents insurance,

Assistance in furnishing your new Greek property,

After sales service including property management and maintenance of your new Greek Property,

We can supply references from previous clients that have purchased Greek property through Living In The Sun.

For Peace of mind and a sound investment contact “Living In The Sun” the International property specialists with property for sale in Spain, Florida, Turkey, Cyprus, Greece, Crete, and Italy.

For Property in Cyprus and Italy contact: Steve Pearson - Tel: + 44 (0) 1275 390152

For property in Florida (especally Orlando, Kissimmee, Davenport and Clermont) Greece, Alonissos, The Peloponnese, Skiathos, Skopelos, Zakinthos and Crete contact: John Goodwin - Tel: + 44 (0) 1590 626266

For Property in Spain and Sicily contact: Christina Harris - Tel: +44 (0) 1962 885602

email - info@livinginthesun.com