mon questions around what you get out of your membership. If you’re not getting the answer(s) you need, email us.
1. WHY T H E A?
T H E A employs a team of professionals, putting together multiple skills as it understand that Promoting a luxury estate for international clients requires precise expertise.
Our skills:
1. Complete service from a-z for a construction project.
2. Extended knowledge in finance and investment
3. Full guidance in all legal details from the start
4. Assistance and advice when choosing geographical area
5. Strong connections in local network
6. English speaking lawyers at your service
7. Full support applying for Greek tax number and opening a Greek bank account
8. Full support for managing the property after construction
2. WHAT’S YOUR EXPERTISE?
Our real estate development firm expertise in Residential real estate in Greece.
3. WHAT’S YOUR TRACK RECORD?
For our firm execution matters just as much as expertise from the year 2006.
The aspects that we always put in front are:
1. Estimated project budget vs. actual project cost
2. Timeline for delivery
3. Quality of construction
4. Client feedback or testimonial
4. WHAT’S YOUR LEAD TIME?
Usually, a project from A-Z takes 2-3 years. Depending on the project type, the volume, and more.
5. WHAT ARE YOUR VALUES?
We are familiar with the local properties in Greece
We develop properties in a good location
We develop properties that are suitable for both sale and rental
We get a good team that you can trust
We create plans for success
We strive for quality in your developments
We sell and/or rent your development quickly
6. IS BUYING A PROPERTY IN GREECE A GOOD INVESTMENT?
You worked a lifetime (and keep working) hard and now you get a chance to enjoy the labors of a lifetime. And which is best destination for that purpose if not the “land of Gods”, Greece, with its countless islands, beautiful countryside, stunning beaches and mountains. Greece offers a unique opportunity for investment, as the economic crisis led to a drop in prices by 40% in real estate. It also offers a wide range of property, capable to satisfy every desire.
7. IS IT POSSIBLE FOR EU CITIZENS TO ACQUIRE PROPERTY IN GREECE?
Yes, the procedure for EU citizens is the same as for Greek citizens.
8. WHAT ARE THE ANNUAL COSTS OF OWNING PROPERTY IN GREECE?
Property Tax (called ENFIA): The EN.F.I.A. is divided into “main” and “complementary”. The main tax is calculated for all rights in property (houses and other buildings, land, off city plan land). The complementary EN.F.I.A. is calculated on the value of the rights of full ownership, bare ownership and usufruct on buildings and plots within city plan. The complementary ENFIA is calculated at the proportion of the total value of entitlements that exceeds 300,000 euros, with rates ranging from 0.1% to 1%.
Municipal Taxes and Fees: depending on the value and size of the property. Levied through electricity bills, ranging from 0.2%-0.8% of the property value.
9. ABOUT THE PROPERTY INSURANCE
The property is secured by insurance companies. Insurance policies cover all potential losses, such as theft, fire, earthquake, storm, etc. The insurance of the property is not mandatory but is required by the financial institutions to mortgage the property.
10. HOW IS THE OWNERSHIP OF PROPERTY SECURED?
Ownership of properties in Greece ensured via the State called Land Registry. In this, all deeds are kept and all encumbrances over the property are registered. Properties archived based on the names of their owners and lawyers have the right to check the property of each person or company. This is where research of notary deeds are maid relating to any claims or encumbrances over the property. The research of the deeds also shows if the property has been transferred properly. This happens always during the process of the conclusion of the deal.
11. WHAT DOCUMENTS ARE REQUIRED TO BUY PROPERTY IN GREECE?
List of documents for registration of real estate:
- Valid international passport
- Valid visa that allows entry to Greece
List of documents for opening a bank account in Greece:
- Valid international passport
- Valid visa that allows entry to Greece
- Document confirming permanent residence (internal passport of the country of residence)
- Letter of employment confirmation (official document confirming the main professional activity of a potential buyer, the kind of which has no importance)
- Copy of the tax return
12. WHY SHOULD I BUY A VILLA IN LEFKADA?
Lefkada has the advantage of being connected to the mainland by bridge, making arriving to the island far easier than to any other of the Ionian Islands. The island has seen a steady growth in popularity over the last decades and is in the eye of investors worldwide due to the many existing opportunities. Besides that, Lefkada will astonish you with the unspoiled natural beauty of the island and the welcoming attitude of the local people. The turquoise blue sea is amazing and so are the mountain areas with their lush greenery and cozy traditional villages.
13. WHAT ARE THE BUILDING REGULATIONS?
Good question!
Inside town planning areas there are several restrictions; this may vary from town to town.
Coefficients:
First 100 sqm: 1,6%
Next 100 sqm: 0,8%
Next 100 sqm: 0,6%
Remaining sqm: 0,4%
max: 400 sqm
Outside town plan the minimum size of land is 4000 sqm and you can build 186 sqm
> 4.000 sqm: 186 sqm + 0,018%
> 8.000 sqm: 258 sqm + 0,009%
> 16.000 sqm: max. 360 sqm
all sqm plus cellar, garage, pool, balconies etc.
The distances from the borderlines are 15 m, 30 m from the coast and 10 m from the forest.