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At hOME ithaca greece we will take you step by step through the process of purchasing property on Ithaca, Greece. We can connect you with professionals such as lawyers, engineers, surveyors, architects and builders from which you can choose, and with whom we can liaise with you or for you. Our aim is to take the stress out of overseas purchase for our clients, giving them peace of mind through the pre-sale, sale and post-sale process. We love Ithaca and want you to love it too.
Good News for buyers in 2008. Purchase tax has decreased to 1% for new properties. |
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ithacagreece.com only sells properties and land plots that have clear Title. We do everythinjg in our power to ensure that there are no disputes or encumbrances through our Lawyer and Surveyor.
When writing to ithacagreece.com Real Estate please include full name and contact details.
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Greece is known for its' changing tax laws. It is important to have a professional explain them to you as to how they will effect your situation in regards to the property you purchase. In 2008 Purchase tax for property bought and sold after 2006 the tax has dropped from 7% and 9% down to 1%. A great incentive and opportunity to buy in Greece.
Grant Possibilities - There may be another round of EU Grants applicable to Ithaca in regard to renovations of touristic accommodations. Click on this link for more info.
http://mme.ependyseis.gr/
When using ithacagreece.com Real Estate, a 2% Agent fee applies on purchase of any properties listed on ithacagreece.com and introduced to you by Agent Erika Bell Bach.
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When buying a house or land on Ithaca, there are some important points to be aware of - |
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1. Beware of roadside real estate brokers. They do not usually have all the correct information on a property or piece of land. Don't become a statistic along with other buyers who have bought land that can not be built on, or has forestry, archaeological or seaside restrictions, and is therefore worthless if the plan was to build.
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2. Real Estate Agents in Greece are paid 2 - 4% by the Vendor and 2 - 4% by the Buyer. Some Agents include the buyer commission in the price of the property, ithacagreece.com does not. ithacagreece.com takes 2% from Sale Price. This assures you of the price the owner requests with no hidden or hiked costs.
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3. Land classed as 'Forestry' can not be built on. Permissions can be applied for, but are not guaranteed.
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4. Always ask to see the topographic map and Title of property and have them checked out by a Surveyor and Lawyer.
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5. Once purchasing a property, it is wise to fence it, so that neighbouring owners can not diminish it over time.
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6. When buying seafront land, a topography of the seafront needs to be made by topographers. This will determine how near to the seafront it is possible to build, if at all. This topography needs to be cleared and signed off by many government departments. There can sometimes be a wait of some months.
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| 7. As the law stands now, you need 4000 sq m to build on a piece of land outside town zoning (EKTOS IKISMOU) and 2000 sq m on a piece of land that is along the town boundary (ENTOS ZONIS). There are restrictions on how near to the border of the land one can build. Land or property within town zoning (ENTOS IKISOMOU) have few or no restrictions in size and/or border distances. |
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8. If there is no electricity on or near the land, the cost of bringing power to it, will be around 1000 euro per pole.
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9. Heritage Listed houses qualify for a government grant that helps to restore the houses to their former glory.
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10. Land that may have in the past or be perceived now as having archaeological significance, will first have to be investigated by the Archeological Department before building can be approved.
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11. Legal fees are usually determined on a percentage scale, usually around 1% up to 45,000 euro and then 1.5% after that.
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12. On purchasing a property, 20% deposit is usual and a Pre-Contract to secure that deposit can be signed. This deposit is not reimbursable if the buyer renegs on the sale. If the vendor renegs on the sale, the buyer is reimbursed double the deposit amount.
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13. Building a stone house gives the owner certain tax breaks. An initiative by the government to encourage more traditional buildings. It can in some cases, work out cheaper than a plastered building.
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14. An estimation of building costs is usually 1800 - 2000 euro per sq meter. For instance, a 200 sq m house may cost you around 360,000 euro. This estimation is not carved in stone, but will give you a good idea of how much you are likely to spend when deciding to build. There are of course variables which can increase or decrease the costs and this estimation is calculated from Building permit to interior fittings and some landscaping.
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15. On Ithaca one must seek building permission for all works that are not already included in the topography and building plan of your property.
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