How much does it cost to buy a house in Greece?

Many people may know about the Greek immigration policy, and there will be no doubt about the application conditions. It is enough to invest 250,000 euros in real estate, but can Greek immigrants really buy a house with 250,000 euros? With the rising price of local real estate, it is almost impossible for investors to buy a suitable real estate at a price of 250,000 euros. Rising housing prices have forced immigrants to pay more for buying a house. According to statistics, the average real estate investment of Greek immigrant applicants has exceeded 350,000 euros. The survey shows that many ordinary investors are willing to pay nearly 300,000 euros to buy real estate.

In addition to paying the house price, Greek immigrants also need to pay taxes related to house purchase, including: real estate transaction tax, real estate municipal tax, house purchase lawyer's fee, real estate transaction notarization fee, real estate land registration fee and authorized notarization fee.

Property transaction tax: 3.09% of the houses with building permits before 2006; After 2006, the tax on houses with building permits is 23%. Take the property of 250,000 euros before 2006 as an example, only 7,500 euros of transaction tax is required. In 2020, the Greek government introduced a tax relief policy during the epidemic period, that is, the property transaction tax for houses (mostly brand-new houses) that obtained building permits after 2006 was also 3.09%, and the policy was valid for three years.

Real estate municipal tax: This tax is 3% of the real estate transaction tax, or take 250,000 euros as an example. 3% of the 7500 euro property transaction tax is 225 euros.

Lawyer's fee for house purchase: it is the fee that Greek immigrants must pay, and the calculation method is about 65438+ 0.24% of the original house price. For example, if the applicant buys a house with a price of 250,000 euros, it needs to pay about 3 100 euros.

Notary fee for real estate transaction: Notary should be present when signing the house purchase contract. After signing, the notary is responsible for registering the transaction in the local mortgage registration office in Greece. According to the purchase price, the notarization fee is charged at the rate of 1%- 1.2% of the house price, and there is also the authorized notarization fee, which is about 120 euros according to the pages of the power of attorney.

Real estate land registration fee: according to the specific situation of different houses, it is about 0.6- 1% of the house price. Take the property of 250,000 euros as an example, the cost is 1500 euros, which will be collected by the Greek Land Bureau.

To sum up, the taxes related to the above-mentioned house purchase account for 6.5% of the total amount of the property. Therefore, if the applicant buys a property with a building permit before 2006, the tax of the Greek purchaser will be calculated according to the minimum investment of 250,000 euros.

Only need 1.625 million euros. From this point of view, in order to obtain # Greek permanent residence #, you must prepare at least 260,000 euros to buy real estate in Greece, which is only the lowest cost of buying a house, as well as immigration-related expenses.