How to buy a PROPERTY on Skopelos (AUGUST 2024)

If you interested in buying a property in Greece and you want to start the procedure of acquiring a property you need to get a Greek tax number and a Greek bank account. It is easier to get them in Greece than being abroad.

These two things mentioned above you can acquire before or after you look at properties and maybe make an offer.

Sometimes it is wise to do it before you make an offer because you are then ready to move forward quickly and it helps the seller too to know that you are committed and ready. I personally advice that every buyer seeks the invaluable help of a lawyer. For a safe, open and a pleasant purchase.

In order to be able to buy a property in Greece you need to have:

1) a Greek tax number and open a bank account. At the moment you can get it via an online appointment with the tax authorities. A lawyer should be able to help you with the procedure.

2) Greek Bank account. You need to make contact with the bank that you want to open a bank account with and you need to take several personal documents with you. Some of them are an identity paper like a passport, your Greek tax number, a paper which states your recent earnings, a utility bill which has your name on it and your address, a telephone bill with your name and telephone number. If a property is bought in two names you also (both) need to have a (can be a shared) bank account.

3) Power of attorney:

You can give a power of attorney to a lawyer who can help you with the purchase of the property. (the power of attorney can have many different powers. To buy a property for you, to act on your behalf before authorities like the tax office and many others.

You need to hire a lawyer to check the property for you and make sure the purchase is legal. If you are on the island you can have a power of attorney for the lawyer made up by the local notary here. If you have a lawyer on the mainland you can get the power of attorney done there. It is not expensive and it is quick. A translator will translate the power of attorney from Greek into English.

If you want a power of attorney done at home you need to contact a Greek embassy or consulate and make an appointment.

If you are not here on the island but you would like to give a power of attorney to the lawyer, we can send a draft for a power of attorney (written by the notary on Skopelos or another city on the mainland) to a Greek embassy or consulate in your country nearby where you live and they can complete the power of attorney with your personal details.

Before the power of attorney draft is send you get in contact with the embassy or consulate and explain that a draft power of attorney is coming their way. You ask for an appointment and have a translator present who can translate the power of attorney to you.

You go there, hear the translation of the power of attorney and if you agree you sign and the original power of attorney will be send by you or the embassy to the lawyer who can now act on your behalf.

If you have a power of attorney done here the translation to you from Greek to English (German or Dutch if you want) is done by a local from the island and can be arranged.

The power of attorney usually gives the lawyer the power to help you with the necessary papers so you are able to purchase a property, to check the property out for you and see if everything is legal, to act on your behalf for various companies and authorities like the electricity company, the water company, the telephone company, the municipality, the police, the building society etc. and to buy the property for you.

4) Lawyer:

The lawyer will work closely with you in order to purchase the property for you. You will be in contact with him/her mainly via email. He/She will ask you to send/email documents that are necessary for the purchase of the property. We, as your real estate agent, will be by your side during the whole process. We will be in contact via e-mail, WhatsApp, messenger or telephone.

!! The lawyer will need a marriage certificate (if you are married) and on the back of the certificate an apostille stamp.

Please look up what an apostille stamp is and where you can get one in your country.

5) Costs for buying a property:

The costs for buying a property are between 10 and 12 percent on top of the purchase price.

1) The property tax, a little over 3 % (over the purchase price) paid one time before the deed is signed when a property is purchased.

It is paid at the tax office in Volos. Your lawyer or the notary takes care of this for you.

2) The notary and land registry fees depend on the purchase price , the difficulty of the contract and the length. When the deed is signed the new owner is registered in the local land registry office.

3) The lawyers fees, when you speak with the lawyer you can ask her/his fee for the whole purchase process.

4) The real estate office fees are 2% over the purchase price (both from sellers and buyers) and 24% VAT (over that amount)

Other costs that come up when you own the house (monthly, yearly)

1) ENFIA: The last couple of years every house owner pays ENFIA which is a property tax. It is based on the m2 of your house. You can pay the whole amount at once or with installments. You can pay via e-banking. You can find out what you pay with your tax number and your tax codes for your tax file. Your accountant can do it for you too.

2) The water bill, payable via e-banking. The bill can come via an email. You have to request this at the water company.

3) The electricity bill, payable via e-banking, can be paid via a standing order at the bank.

4) The telephone bill, for internet etc. if you choose to have this connected. Payable via e-banking.

You can use an accountant who will charge a yearly fee to update your tax file and warn you about ENFIA (property tax) which you need to pay. If you rent out your property they can set up a business for you.

Important information for sellers

When you sell your property there are certain documents needed to complete the sale.

One document to start with is a GPS coordinated typography issued by a civil engineer. This topography is compared with your tax details ( E9) that were stated when you bought/inherited the property. The details are looked at by your accountant and provided by a civil engineer.

If there are any differences (bigger or smaller) these changes need to be rectified in your tax file by your accountant.

Both tax file and topography have information about size, age of the house etc. and they need to be the same.

If there are any differences in the measurements you may have an illegal structure added to your property and you may need to pay a fine to get the property legalized. An civil engineer can verify this for you and can file for the legalization. After that you need to pay

1) extra ENFIA (property tax and for at least five years) if the property is bigger and also

2) property tax because you had a bigger property in your possession all these years.

3) if you sell a property very quickly after you bought it, you need to pay capital gains tax.

When you sell a property you, usually, need to pay:

-Your accountant

-Your civil engineer

-You real estate agent

-Your lawyer (if you take one)

If there are differences in the sqm of your property there is a chance you pay:

-a fine for the legalization depending on the size etc.,

-extra ENFIA (property tax) and

-property tax .

Skopelos Dream Properties cannot always guarantee that the properties you want to see will all be available when you come and visit the island. Not all properties are exclusively for sale with us and might be sold without us knowing. Some properties are rented out in the summer and might not be available to see immediately. The prospective buyer that comes first and makes an offer that is accepted has priority but the seller has the final say if they want to accept a counter offer.