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Real estate law in Greece

Once you have chosen your desired property, the formalities need to be taken care of. In the following, we would like to provide you with initial information regarding real estate purchases. According to Greek law, a valid real estate purchase requires a notarised sale agreement and an entry in the land register. Prior to the notarisation, evidence of the payment of any land transfer tax payable must be provided to the notary public. If a sale agreement exceeds a certain amount, both parties are required to be represented by a lawyer to conclude the agreement. We will be happy to assist you with choosing a lawyer. Peculiar to Rhodes is the existing cadastre, which was introduced during the Italian occupation in the 19th century. This land register contains details including the property’s owner, the property and land area as well as any mortgages. The land register research to review the ownership situation and verify that the property is free from mortgages or third party claims should always be carried out by an experienced lawyer. In addition, there are purchasing restrictions. They include the inadmissibility of purchasing state-owned woodland and listed buildings. Furthermore, there are regulations governing protected archaeological areas. To purchase a property, a buyer needs to produce the following documents: a Greek tax number an identity card or a passport a certificate issued by the responsible tax office attesting the payment of the land transfer tax In Greece, a tax return must be submitted by all property owners, irrespective of their citizenship. A Greek tax number, the so-called AFM (Arithmos Forologikou Mitroou), must be applied for at the responsible tax authority (DOY = Dimosia Ikonomiki Ypiresia) and simply requires applicants to present their passport and a completed application form. We recommend you contact a lawyer or the responsible authority in advance for further details.

Engel & Völkers

Rhodes
Ammohostou 18
85100 85100 Rhodes
Greece
Phone
+30-22410-794 10

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