Frequently Asked Questions
General questions General questions
What is the selling process of a property

1. Choice of a Real Estate Agency
2. Accurate evaluation from a certified appraiser in our office
3. Creation of a detailed presentation for your property
4. Promotion of your property in Greece & abroad
5. Visit with potential buyers
6. Reception of an offer
7. Acceptance of the offer
8. Preliminary contract
9. Final contract & completion of the process

 
Necessary documents for a property sale

1. Photocopies of Identity cards/passports, T.I.N.s and tax return documents of the parties involved.

2. Property Ownership Documents (seller)

3. Tax return documents of the seller

4. Certificate from the Municipality stating that the tax of the real estate property (ΤΑΠ) has been paid.

5. Certified copy of the Construction permit, if the property has been constructed after 14.03.1983, otherwise official relevant statements of the parties involved.

6. Official statements of the parties involved., signed before a notary, stating that the transferred property is not found on a seashore, environmental habitat, beach, public or archeological site, according to Law 2242/1994.

7. a. In the case that the property is found in an area that is currently being added to the national cadaster, the relevant document stating the process of subscription or the actual subscription to the cadaster.

7. b. In the case that the property is found in an area that has already been added to the national cadaster, the relevant document stating the subscription to the cadaster and the topographic plan.

8. a. In the case that the property has been transferred to the owner by his parents, has been inherited or donated to the owner, after the 31.12.1994, a certificate stating that all relevant taxes have been paid to the state.

8. b. 1 In the case that the property has been inherited until the 31.12.1994: the official certificate of death, proving that the provider of the property actually passed before the 31.12.1994.

8. b. 2 In the case that the property has been transferred by the parents to their offspring or has been donated before the 31.12.1994: an official copy of the relevant contract.

9. a For a horizontal ownership with no unauthorized constructions or uses:

9.a.1 A certificate issued by a civil engineer stating the above mentioned fact, according to existing laws, with a mention of the unique property number issued by the technical chamber of Greece, valid for two (2) months and when necessary a topographic plan and

9.a.2 An official statement of the person transferring the property with the above mentioned content, declared before a notary.

9.b For a horizontal ownership with existing unauthorized constructions or uses:

9.b.1 A certificate issued by a civil engineer with a mention of the unique property number issued by the technical chamber of Greece, valid for two (2) months, stating that the unauthorized constructions or uses of the transferred property (horizontal ownership), not including the shared surfaces of the property fall under the exceptions of the law 4495/2017. When necessary the certificate is accompanied by a topographic plan

9. b.2 An official statement of the person transferring the property with the above mentioned content, signed before a notary.

10. A certificate issued by the Ministry of Finance for the Unified Real Estate Property Tax (ENFIA) proving that the person transferring the property (seller, providing parent, person donating etc.) has included the property in question in his Real Estate Property declaration. If the person transferring the real estate property has not owned the property for a minimum of five (5) years then they must also provide: an official statement declaring when & how they acquired the property and the fact that they were not obliged to declare it in their tax declaration (E9) for these years. This statement must also be verified by the tax service to which the owner belongs.

11. An Energy Efficiency Certificate is also required.

12. In the case that the owner has a commercial business, is a member of a company, or is obliged to pay insurance for the work done on a newly constructed building, the latest insurance clearance has to be provided.

Of course, the bureaucracy does not end here. There are other documents and certificates that an owner might need to provide to the notary, depending on the nature and location of the property (e.g. certificate from the forestry service, TOEB certificate, certificate from the municipality proving that the ownership has been declared or that there is no financial debt etc.)

 
What are the advantages of an exclusive cooperation for a property sale

1. Full promotion package in Greece & abroad
2. Gold & VIP adverts
3. Professional photoshoot & video
4. Pro-active real estate
5. Open cooperation invitation to all our colleagues

The exclusive mandate is valid for a specific amount of time that is agreed between the owner and the real estate advisor. During the effect of the written, exclusive real estate mandate, the seller can sell his own property, but he will be obliged to pay the real estate agency its agreed upon fee.

 
What is the process of finding and purchasing a real estate property

1. Choice of the property with the help of your real estate advisor.
2. Offer of purchase to the owner of the property & acceptance of said offer.
3. Choice of a lawyer & notary.
4. Creation of a Tax Identification Number (T.I.N.) and creation of a bank account (for people living abroad)
5. Deposit of usually 5 -10% of the property’s selling price.
6. Signing of the final contract.

Usually the time of completion for this process is about 2 months, given that no bureaucratic delays will occur.

 
What are the expenses of acquiring a real estate property in Greece

1. Property Transfer Tax
The tax is 3% on the taxed value of the property. Those who can use their ‘’right of primary residence’’ do not have to pay this tax.

2. Lawyer
Since 01/01/2014 the buyer or seller are not obliged to have a lawyer. However, we believe that it is absolutely necessary to have one. The lawyer’s fee is the result of his/her agreement with the client, but usually the fee is about 1% + V.A.T. on the selling price of the property.

3. Real Estate Agency
About 2 - 4% + V.A.T., depending on the property’s location.

4. Notary
The notary’s fee starts from 0,65% + V.A.T. up to 1,5% + V.A.T.

5. Property Registry Office
The fee for the transcription of a property’s contract at the Registry Office for a sale/purchase is 0,475% on the property price. An additional 0,125% on the property’s price is paid for the Lawyers’ Fund.

 
What are the annual costs for a property in Greece?

1. Unified Real Estate Property Tax (ENFIA):

2. Municipal Taxes & Fees: These depend on the value & surface of the property and are included in the electricity bills.

 
What is the objective value of a property?

The objective value of a property is decided by the Ministry of Finance and depends on the location of the property. It represents the financial value of a real estate property for the Greek Tax Authorities.

 
How will I find a lawyer, notary, civil engineer, insurance advisor etc?

Our company will suggest to you experienced lawyers, civil engineers, and any other professional you might need. Of course, the choice is yours and you can always cooperate with your own team of professionals.

 
Can I get a loan?

Yes, if you are a citizen of the European Union and your income is in EUROS (€).
Our company cooperates with various Greek Banks. In the case that you need a loan in order to finance your investment, our financial advisor will be at your disposal.

 
What is the current situation for the residency permit/Golden Visa for third country citizens (i.e.: outside of the E.U.)?

An entrance & residency permit can be acquired by any third country citizen who possesses or will possess (and has the relevant proof) a real estate property in Greece with a minimum price of 250.000€, as well as any third country citizen that has a lease for a hotel or tourist residence complex, for at least 10 years and with a minimum rent of 250.000€.

 
Why should I buy in Argolida/Peloponnese?

The distance from the capital, Athens.
• The secure access throughout the year.
• The natural beauty, combination of sea, mountain, numerous beaches, lakes, mountain slopes.
• The Greek way of living in the province.
• The rich ancient heritage, the archaeologic sites of Epidaurus, Mycenae, Olympia and many more.
• The annual revenue from the seasonal or long-term rental of the property.
• The potential of an added value, since the regional market is rising.
• Generally, whichever property you may buy, it will be more than an investment; it will be a dream come true. Argolida, and the Peloponnese in general, are among the prettiest destinations worldwide, known for the Mediterranean climate, rich culture and civilization and last but not least, the friendly people. This will always be the ideal place for the realization of your dreams.

 
Necessary documents for a property purchase

1. Identity card or passport.
2. Proof of payment for the property transfer tax at the relevant tax service. For the calculation and payment of this tax, the notary must first calculate the objective value of the property with a relevant form towards the tax service.

In the case that the buyer does not have to pay this tax, thanks to his right of primary residence, they must provide the tax service with the following documents:

• An official statement proving that he has not used his right of primary residence in the past and that he does not fully own any other house or apartment.
• A certificate proving his civil status.

 
Buyer Questions Buyer Questions
Do I need a lawyer for purchasing a property in Greece?

By law, a lawyer is not necessary. However, we always advise all buyers to work with a lawyer once they have decided to purchase a property in Greece. The role of the lawyer in a property transaction is to conduct a legal check on the property and ensure that it is entirely legal and transferable. Your lawyer will also be your legal representative in Greece during the transaction and after its completion. They will assist you with opening a bank account as well. SRE has chosen to collaborate with reliable and experienced lawyers.

 
Do I need a notary for purchasing a property in Greece?

Yes, the use of a notary is essential for completing the purchase of a property. The notary essentially acts as a representative of the Greek State and ensures the legality of the property transfer process. The notary checks the documents provided by both parties, drafts the final contract, calculates the taxes that need to be paid, and oversees the final signing of the contract. The notary does not collect the property’s purchase amount or the fees of the involved professionals. SRE has chosen to collaborate with reliable and experienced notaries.

 
Do I need an accountant for purchasing a property in Greece?

No. However, an accountant will be necessary once you acquire your property in Greece, as they will be the one to file your tax return each year and inform you of the taxes you need to pay. They will also assist you in obtaining a tax identification number (AFM). SRE has chosen to collaborate with reliable and experienced accountants.

 
Do I need to open a Greek bank account to buy a property in Greece?

A Greek bank account is not necessary for purchasing a property in Greece, but it can, in some cases, facilitate or expedite the process. The payment for the property and the fees for the involved professionals can be made via bank transfer from your bank abroad. However, if the seller has a Greek account, a transfer from a Greek bank will be much quicker. Additionally, a Greek bank account will be necessary once you become a property owner in Greece for the payment of your bills and taxes. All Greek banks have e-banking systems in English, so you will have no difficulty managing your account.

 
How will my property be transferred to my heirs in the future?

Your legal heirs will need to sign an act of acceptance of inheritance with a notary and pay the tax associated with this act according to Greek law. Currently, the inheritance tax is 1% of the property's value, while for properties valued up to €95,000, there is no tax. For example, for a property worth €300,000, the inheritance tax that will need to be paid is €2,050.

 
What should I be aware of if I want to build a residence in Greece?

First, you need to ensure that the plot of land can “support” the square meters you want to build. A request to the urban planning office for a pre-approval of the permit will provide you with this information. Our advice is to collaborate with a civil engineer, architect, or construction company and design the property of your dreams together, progressing step-by-step towards its completion. These steps include designing the property, positioning it on the plot, obtaining the building permit, and carrying out the construction. SRE has chosen to collaborate with reliable and experienced engineers and professionals in this field.

 
How much does it cost to build a house?

This depends on many factors such as the quality of materials, the architectural design, and the requirements of the plot, and cannot be predicted in a single paragraph. An approximate estimate can be provided once these details are given.

 
How much does it cost to build a swimming pool?

Naturally, this depends on the type, size, depth, materials, location, and various other factors. The best answer will certainly come from a professional pool builder. However, if you want to have a very general idea of the possible cost, we could say that a simple conventional pool of size 4x10 meters starts from €30,000.

 
How much time does it take to complete a property transaction in Greece?

A property that does not have a complete sales file typically takes at least 3 months until the final signing of the contract. If the property does have a complete sales file, the contract signing can be completed very quickly, even within 30 days. If there are further legal or technical issues, the duration of the contract preparation process may exceed 3 months.

 
What amount should I give as a down payment?

The general rule for the amount of the down payment is 5-15% of the total property price. However, each case may vary and the down payment amount is subject to agreement between the buyer and seller. Your real estate advisor will assist you in each case to finalize the property with the appropriate down payment amount suitable for each situation.

 
What do the terms buyer's market / seller's market mean?

These terms describe the state of a real estate market. Generally, a "buyer's market" is a market that favors buyers because there is not a high demand, property prices are low or negotiable, and buyers generally have more leverage. Respectively, a "seller's market" is a market in which there is high demand for properties, sometimes resulting in multiple buyers interested in the same property, few properties available for sale, and therefore little room for negotiation. Prices rise, and the power is in the hands of the property owners. The market for vacation homes in the Peloponnese currently belongs to the latter category.

 
What happens if the seller rejects my offer?

A negative response to your offer is possible. However, this does not mean you have lost the opportunity to acquire the property you have chosen. In most cases, a negative response is accompanied by a counteroffer from the owner. Here, you can also counter with a third offer, and so on, until a mutually acceptable agreement has been reached or an impasse occurs. This process is part of negotiating a property. In some cases, there is no room for negotiation, and this depends on many factors that you can discuss with your real estate consultant.

 
Is a legal inspection of the property necessary?

By law, a legal inspection is not required to complete the sale, but in practice, it is very important and should be conducted before any written agreement is signed.

 
Are property prices negotiable?

It depends on the property owner. Property prices are set by the owners, and they are responsible for the progression of their property's price. SRE appraises, prices, and advises all property owners on which price to choose, but the final published price of the property is the owner's choice, as is any further reduction if and when it follows.

 
What does the price I see in the property listing cover?

The amount shown as the sale price of a property in our listings describes the amount that the respective owner is asking for their property. In addition to this price, all other purchase expenses are added.

 
What happens if I change my mind about buying a property?

This is described in the preliminary purchase agreement you signed. Usually, if the buyer backs out of the purchase for personal reasons, they forfeit the deposit paid as a penalty.

 
How much do water, electricity, and internet cost in Greece?

The cost of water in Greece is very low and will not be a significant concern during your stay. The only thing you need to ask your real estate consultant is whether there is a public water supply network in the area where you are buying, as in some areas outside urban settlements the state has not yet established a water supply network, due to a lack of permanent residents.
The cost of electricity in Greece, as in the rest of the world, is on the rise these days. Additionally, you should know that in Greece, the electricity bill also includes municipal fees corresponding to the property. The total cost will, of course, depend on your consumption. In the event that there is no public electrical grid, the cost of connection is particularly high and depends on many factors, primarily the distance of the property from the public electrical grid.
The cost of internet in Greece ranges from €25 to €30 for an unlimited, fixed broadband connection. This amount includes a telephone line and usually some offer for free talk time. If you are buying in a remote area, it is good to check whether there are other houses nearby with a fixed internet connection or to inquire about the possibility of obtaining a line from a provider. In most cases, your real estate consultant can provide you with this information.

 
Can I rent out my property seasonally in Greece?

Certainly. The Greek government allows property owners to rent out their properties for 60-90 days per year, depending on the location, without the need for a special professional license. Income from these rentals is taxed progressively by the state. Especially, for a vacation property owner in Greece, seasonal renting can be a good solution for additional income during periods when you are not using your property.

 
Can SRE undertake the rental management of the property I will purchase?

For the past five years, our company has maintained a specialized department for managing luxury residences. A discussion with the head of this department will fully inform you about the services we can offer and their costs. Request a meeting today with the property management responsible.

 
What does it mean when a property is under selling procedure?

When you see the indication "under selling procedure" in our office listings, it means that a buyer has already been found for the specific property and has even paid a deposit to secure the property. "Under selling procedure" status applies to a property from the moment it receives a deposit up until the signing of the final contract.

 
Are the details in the listings accurate?

At SRE, we try our best to present as accurate information as possible for the properties we promote. However, because it's not feasible to conduct legal and technical checks on every property we advertise, we primarily rely on the information provided to us by the respective seller, conducting an informal, rough check based on our market experience. The official legal and technical inspection of a property is conducted by the interested buyer.

 
Can I have my purchase documents translated into my language?

We provide verbal support in your language free of charge throughout our collaboration for the languages we serve (English, French, German, Russian). If you wish to have any of your purchase documents translated, we will be happy to assist you in the supported languages for an additional cost based on the size of the project.

 
Can I participate in the Golden Visa program?

The Golden Visa program is aimed at non-EU citizens. Through this program, you can obtain a residence visa in Greece, provided that you make a property purchase with a minimum total value of €250,000. As in other countries, from September 1, 2024, this amount will increase to €400,000 for the Peloponnese region in Greece. The €250,000 threshold will remain only for cases involving the purchase of a heritage building and its full renovation, or for cases of converting a commercial property into residential use. If you meet these criteria, you can benefit from the Golden Visa program. Our office can connect you with experienced lawyers who will handle the entire application process for you.

 
How long does it take to obtain the Golden Visa?

The usual required processing time for the Golden Visa is 3 months.

 
What amount of money is required for the Golden Visa?

The amount is set at 400,000€ for all regions of the Peloponnese from September 1, 2024. It can be reduced to 250,000€ under specific conditions.

 
Does the Golden Visa have an expiration date?

The Golden Visa grants the right to enter Greece for five (5) years, permanent residency in Greece for five (5) years, and the right to renew the Golden Visa every five (5) years under certain conditions. Other privileges include the right to free movement and stay for 180 days per year in European countries that are part of the Schengen Agreement, within or outside Europe.

 
Can my family use my Golden Visa?

Yes, they can. Family members include:
a. Spouse
b. The other spouse or partner with whom the third-country national has entered into a cohabitation agreement in Greece
c. Dependent minor children of the spouses or partners under 21 years old

 
Is there any charge for visiting a property?

No, there is no charge, unless you acquire a property with the assistance of SRE.

 
What is the difference between the terms "plot" and agricultural land?

The term "plot" on our website refers to land parcels located within a city plan or settlement.
The term "agricultural land" refers to all land parcels located outside city plans, outside cities, and settlements.

 
If one property belongs to one SRE agent and another to someone else, do I need to contact both agents?

It is not necessary. All the real estate consultants in our company work together with the common goal of providing the best service to our clients, without any competition among them.

 
Seller Questions Seller Questions
How can I make sure that my property is attractive?

From your side, what you can do is properly prepare your property for the photo shooting by our representative. Our company's real estate consultant will inform you in detail about the actions you need to take inside and outside your home. We will ensure that we take quality photos and videos and create an attractive and comprehensive listing that will advertise your property's features in the best possible way.

 
How can I prepare my property for sale?

If you want your property to be sold quickly when an interested buyer is found, you can contact your engineer and accountant to investigate any potential settlements or outstanding debts related to your property. A property ready for sale, without technical or legal obstacles, is a reason for the interested buyer to choose your property over another.

 
How does SRE achieve the best price for my property?

SRE's real estate consultants are all trained in the best practices for presenting and promoting your property. Our goal is to highlight the advantages of each property and find the most suitable buyer. We have in our disposal a directory of past sales’ prices for each area, we are aware of the competing properties in the market, and have the tools to create the best showcase and promotion of your property.
SRE's real estate consultants have experience in the property negotiation process, know the appropriate techniques, and possess the necessary expertise to properly negotiate the selling price of your property.

 
What is the value of my property?

Our company's real estate consultants are all trained and experienced in the most fundamental and widely used property appraisal techniques. We are certified in property valuations and are members of EPPA (Association of Certified Real Estate Appraisers of Greece). Contact our office today and schedule an appointment with one of our consultants to find out the current value of your property.

 
How will SRE promote my property?

At SRE, we continuously seek new channels for property promotion and do not limit ourselves to traditional, automated solutions. First, we select the right promotion channels for each property type to ensure it reaches the interested audience. Additionally, we have a very well-organized database with hundreds of interested buyers. Our partnerships with foreign real estate companies offer the benefit of wide reach and exposure of your property to citizens of third countries. Our company's marketing efforts further enhance the promotion of your property. You can read more information on this topic on the Marketing Plan page.

 
Why should I assign my property exclusively to SRE?

The short answer to this question is because we have the passion, dedication, the right people, and the expertise that a modern real estate company needs, and most importantly, we achieve the best and most results in our mediations. A real estate consultant will present the advantages of exclusive assignment to you and determine if your property can be supported by us for an exclusive assignment.

 
What does general assignment and exclusive assignment of a property mean, and which is better?

A general assignment of a property involves assigning the property to as many real estate agents as you want simultaneously. Exclusive assignment means that only one agency has the right to manage the sale of your property for a specific period. If we stop the analysis here, the logical conclusion is that the first option is clearly more advantageous, but this is not the case. Each option has its advantages and disadvantages. Generally speaking, with exclusivity, the agent highlights your property, investing more time and money in its promotion and appropriate advertising. An SRE real estate consultant can provide you with further information about the process.

 
Should I rent my property seasonally or for a long term?

The answer to this question depends on your property and its location. Seasonal renting is very popular nowadays and can be very profitable, but it is not the right solution for all properties. The rentals manager at our office can advise you on this matter.

 
How long will it take to sell my property?

It depends on the pricing of the property, its condition, and the current conditions in both the domestic and international market. There are cases where properties have been sold within a few days and others that have taken years.

 
How does SRE help me sell my property?

Our company offers market knowledge, guidance through market analysis and comparative data from sold and unsold properties in the area, use of specialized real estate programs, high-level photography, video and marketing, promotion on selected international portals, support with legal and technical issues related to the property, and extensive experience with multiple success stories. These are some of the services we provide.

 
Can SRE sell my property at a high price?

Through SRE, you are given the opportunity to sell your property under the most favorable conditions. These conditions positively influence the outcome.

 
Can I work with any SRE real estate consultant I want?

Each consultant specializes in one or more categories of properties. However, no matter who you start communicating with, the entire SRE team works for you.

 
Can your office handle the sale of my property?

Our company handles the sales of residential properties and buildable land in the coastal areas of Argolis, Corinthia, Arcadia, Messinia, and selected areas of Laconia. We also handle the sales of commercial spaces in the urban centers of Argolis, Corinthia, and Messinia. If your property falls into one of these categories, then we are the right people for the job.

 
How can I stay informed about the progress of my property?

When your property is initially assigned to our company, you can specify how often and by what means (phone or email) you wish to be updated regarding the progress of your property. Apart from this agreement, you will be informed before and after each visit to your property. Additionally, you can always check the number of views of your listing on our office's website.

 
What happens if there is no demand for my property?

If a reasonable period has passed since the initial publication of your property and there has been no serious interest from buyers, we can arrange a meeting, if you wish, to assess the situation and suggest possible solutions.

 
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