HOW MUCH DO I HAVE TO PAY ON TOP OF THE LIST PRICE:
Are there any additional costs apart from the selling price of the property when I buy it in Greece? When buying a property in Greece, the following expenses, approximately 13% on the objective price set by the tax authorities, have to be taken into account.
Expenses on top of the listed price
Property Tax:
- Value estimated by Tax Authorities up to : 14,670 EURO Tax: 7-9%.
- Above 14,670 EURO Tax : 9-11%.
Municipality Tax:
- 3% on the total amount of purchase tax.
Notary Public Expenses:
- (1,5% - 2%) on the price stated on the Estate contract.
Legal Advisory Expenses:
- Stated Value: Up to 44,000 EURO: Fee: 1,5%.
- Stated Value: Over 44,000 EURO: Fee: 0,5%-0,9%.
Real Estate Agency Fee:
- Upon Agreement with the owner.
NOTE: Most of the times, the commercial price asked for a property is much higher than the objective price
(adikimeniki axia).
Example:
Property Value in euro 1.000.000
Objective price in euros 500.000
Notary Public 1,50% on the objective price= 7.500
Lawyer 1% on the objective price= 5.000
Transfer tax on the objective price 10%= 50.000
Municipality tax on the transfer tax paid 3% = 1.500
TOTAL = 64.000 euros (That is 6,4% of the commercial price and 13% of the objective price)
