Welcome

Useful Information

The designs of our buildings are prepared by experienced topographers, architects, civil engineers and mechanical engineers ensuring a high level of aesthetics and construction integrity.

GUARANTEES
Our company based on its reliability and excellent quality of construction is in the position to be able to offer you:
1) Guarantee for the exact date of delivery and completion of your home
2) Two year guarantee for all works and construction materials of your home
Once you have decided to purchase a certain property you can save time and avoid unpleasant situations by following certain simple procedures

LEGAL REPRESENTATION 
As a buyer you are initially obligated to hire a legal counselor to assist you and represent you during the transaction.

NOTARY
You also need to appoint a notary. All property purchase agreements must be signed before a notary in order to be legally warranted. The agreement must be read, understood and signed in the presence of the notary. The notary is also responsible for the preparation of the agreement and ensures the verification and registration of the transaction in the Land Registry. That way the buyer will acquire the official ownership title of the property.

OWNERSHIP / TITLE RESEARCH
As a buyer you must receive the ownership title act from the seller. Your legal counselor will assist you with this procedure. Your legal counselor is then obligated to conduct the inspection of the ownership title at the Land Registry. The research is done in order to ensure that:

• The Seller and only the seller has the ownership title
• The property does not have any legal claims (explicit commitments etc.)
• The Seller does not transfer unpaid ownership taxes

The construction adheres to all the plans and construction permits.

TAXATION FILE NUMBER
As a Buyer you must have a Greek Taxation File Number (A.F.M.). The A.F.M. is required by law in order to be able to purchase property in Greece and is required for the planning permit, connection to public utility organizations, and for the opening of a bank account etc. In order to acquire the A.F.M. you must submit an application to the local Taxation Department.

BUYER      
Any person physical or legal. For citizens or legal persons with a nationality of a member-state of the E.U., the purchase is not subject to the inspection by the Hellenic State. To the contrary, for citizens or legal persons with another nationality, the purchase is subject to the approval of the Hellenic Ministry of National Defense.

TRANSFER TAX
The property sales agreement is subject to a transfer tax payable to the Hellenic State. The tax is proportional and amounts to 7% up to the amount of 15,000 Euros and for the balance the tax is 9% of the value of the property being sold that is written on the agreement (a municipal tax of 3% is imposed on the total amount of the tax), unless the property is subject to the imposition of the V.A.T. in which case it will have a tax of 19%.

ADDITIONAL CHARGES
Aside from the transfer tax, the buyer is charged: a) with the remuneration of the notary, which amounts to a percentage of 1.2% of the value of the agreement, b) with the transfer expenditures which amount to a percentage of 0.45% of the same value and c) with the remuneration of his attorney, which is prepaid to the Attorneys Association and amounts to a percentage of 1% up to 11,738 Euros and to a percentage of 0.5% on the balance.

TRANSFER OF PROPERTY
The buyer may sell his property freely without being imposed a tax for the price he will collect in the case of a sale. In the case of a gift or inheritance a tax is due depending on the degree of the relationship of the donor – gift recipient. In the case of transfer due to parental provision, namely from parent to child, the tax-free limit from each parent to each child is 80,000 Euros and the taxes of the above category are reduced to half up to the amount of 100,000 Euros.

FINANCING
The purchase of properties in Greece is financed by all Banks and the loan limits and interest rates vary by case. The Banks that supply the loans usually register mortgages on the property being bought for guaranteeing the payment of the loan.

OPERATING PERMIT FROM E.O.T.
Perhaps you wish to rent your home as a vacation home. You must however, have the relative permit. If you have revenue from the rental of our home as a vacation home, you are obligated, in accordance with Hellenic legislature, to have an operating permit from E.O.T.  
If your home is rented for a long period of time, namely more than 3 months to just one tenant you do not need an operating permit from E.O.T. as it not considered a vacation home. You are however, obligated to declare the revenue from renting the home on your tax return.
Any vacation home toward rental that has a swimming pool must meet certain very strict specifications.  

Useful Information

• Guarantees
• Legal Representation
• Notary
• Ownership / Title Research
• Taxation File Number
• Buyer
• Transfer Tax
• Additional Charges
• Transfer of property
• Financing
• Operating Permit from E.O.T.