Acquiring the Property
A Greek solicitor is essential to establishing clear and unencumbered title and it may be advisable to hire a civil engineer or topographer to ensure land boundaries conform with the description of the land.

The sale process itself is conducted by a notary public and is quite straightforward. The notary will collect transfer tax and legal fees at the time of the sale transaction.

Acquisition Costs
Estate agents charge both the buyer and seller – typically up to 2% each. The buyer pays transfer tax which is defined by local ‘objective’ property values set by the tax authorities.

The costs can vary therefore but are usually between 5% and 8% of the purchase price (including the notary public and land registry fees).

Mortgages
British finance institutions may be reluctant to provide a mortgage against a Greek property, but Greek banks and Greek branches of international banks will do so. Loans are typically available up to 75% of the asset value and current rates are lower than in the UK (about 4%).

Buy and Let
Buy to Let as pure investment is not well established anywhere in Greece and there is no link to mortgage lending. However, letting agents exist in all attractive locations and Thea Developments has its associate company to manage lettings. Rental rates are generally high in good holiday locations so it is quite possible to envisage the self funding of mortgage repayments from rental income.