Buy Real Estate in Greece - What You Need

So you want to buy real estate in Greece. And you have decided where you want your property to be! A very difficult choice - unless you had already fallen in love with one special spot. So what do you do now?

There are some things you need to do before you start the purchase process.

• The first thing you have to do if you're a foreign national is get a tax number. This is called AFM which stands for "arithmo forologiko mitro". (As you will guess, "arithmo" means "number"!) You can get this number from any tax office. If you are from USA or UK, you have to produce your passport and fill out two tax forms, the M1 and the M7.


• You have to open a bank account in Greece. When you transfer the money to the seller it has to come directly from a Greek bank.


• Another very important requirement is that you have to account for the money you are using to buy the property. You have to satisfy the authorities that it is from a legal source. If your funds come from outside Greece, as they almost certainly will, you must transfer them in to the Greek bank account you have opened. It is absolutely essential that you keep a copy of the bank transfer and the "pink slip" issued by the bank. You have to be able to account for the full amount of what you pay for the property - if you can't, it will be assessed as "unreported income" and be liable for full tax!


• Finally, you must hire a lawyer (dikigraphos - the "d" is pronounced "th" as in "the"). Unless your Greek is very fluent, you need one who speaks English! You should be able to get a list of recommended ones from the US or British consulate.

Now you are ready to start your buying process! This where the fun begins! In the next post we will go through the process in detail. If you have been through it and have anything to add, please do - likewise if you have any questions. And if you can't wait to start your search for a gorgeous Greek property, you'll find a fantastic selection at http://www.bizwrite.co.uk/realestate/propertyabroad.html or http://www.bizwrite.co.uk/realestate/overseasproperty.html

How Do I Buy Real Estate in Greece?

If you're looking to buy real estate in Greece, the first step is to do your research. Learn about all the steps in the process and all the legal requirements. The purchase process for foreign nationals is a bit more complicated in Greece than in some countries but many, many people have done it successfully. If you feel nervous, find some people from your own country who've already been through the process. They will be only too happy to chat to you over a glass of ouzo or three! They are the best people to provide practical tips, and warn you against pitfalls you may come up against.

The next step is - decide where you want to buy your property! If you've been to Greece a few times, you'll know what an immense and varied area it covers. Dozens of islands, all very different (for instance the Ionian islands are very different from the Dodecanese islands near to Turkey). The mainland - north or south, mountain or coast. Beautiful towns and cities or tiny sleepy villages. It's highly advisable to get to know Greece before you start - unless you have totally fallen in love with a particular spot. Getting to know the country won't be an arduous task! It can only be sheer delight!

When you are deciding where to buy your property, there's one thing you have to bear in mind. If you are from the USA or another country outside the European Union, you need special permission to purchase in certain areas of Greece. These are areas that are on the outer fringes of the country. They include islands close to Turkey such as Rhodes and Kos; Crete to the south; and the northern parts of the country. This approval isn't usually difficult to obtain - you get it from the local prefecture and your agent, if you are using one, will help you.

If YOU have found it easy or difficult to buy real estate in Greece, please share your experience - it would be really helpful. And if you're interested in buying properties abroad, in Greece or anywhere else, you'll find a gorgeous selection at http://www.bizwrite.co.uk/realestate/propertyabroad.html or http://www.bizwrite.co.uk/realestate/overseasproperty.html

Buying Properties Abroad - Real Estate in Greece

If you're interested in buying properties abroad, you could start your search in Greece!

So why would you want to buy real estate in Greece?

Well, I have to confess to a special interest here - because I have loved Greece all my life! To me it's one of the most magical places on earth. For a start it's the cradle of European civilization. Everywhere you go there are reminders of our history, back to Homer, the Trojan War and beyond. There are mighty mountains wrapped in ancient myths and legends. There are white bougainvillea-covered houses tumbling down steep hillsides to an azure sea. There are islands bathed in eternal sunshine....

But of course there are much more down-to-earth reasons for wanting to buy real estate in Greece. The property market in Greece shows all the signs of being on the up. Greece's entry to the EU, followed by the Athens Olympics, provided a major jump-start to the real estate market and this upswing shows no sign of slowing down. If you want your property as an investment, you can look forward to handsome rental returns, especially in holiday hotspots like Crete, Rhodes, Zakynthos/Zante and Corfu. AND you can expect a virtually certain steep appreciation in value.

But how easy is it to buy real estate in Greece? Well, it's not the easiest place, but lots of people from other countries including UK and USA have done it successfully. You just need to understand the process and we will look at this in the next couple of posts.

If YOU are wondering whether to buy real estate in Greece, or if you've already done so and have tips to pass on, or good or bad experiences to report, please let us know. Meanwhile you'll find some gorgeous Greek properties at http://www.bizwrite.co.uk/realestate/propertyabroad.html or http://www.bizwrite.co.uk/realestate/overseasproperty.html