Expenses when Purchasing Property

The expenses that the buyer has to pay when purchasing a property, are based on the selling price of the property. However, in cases where the Objective Value is higher than the selling price, then it is taken into account and consideration in the Purchase Contract. Below you can find a brief list of the expenses that one is to expect during a property purchase:-

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  • Transfer Tax

All property purchases in Greece are subject to taxation. It is obligatory for the purchase tax to be paid prior to signing the contract. The amount of tax is calculated on the selling price of the property. The transfer tax is charged at 3,09% of the property price. Ιf the seller is also a developer-contractor, taxation of 24% VAT of the purchase price will apply but here at Kreta Eiendom that expense is already included in the selling price.

 

To be 100% accurate the scale according to ΦΕΚ 13/2012 ΤΕΥXΟΣ Β are:
Value Notary Fee
0€-120.000€ 0,8 % + aprox 500€
120.000€-380.000€ 0,70 %+ aprox 500€
380.000€-2.000.000€ 0,65%+ aprox 500€
2.000.000€-5.000.000€ 0,55% + aprox 500€
5.000.000€-8.000.000€ 0,5% + aprox 500€
8.000.000-10.000.000€ 0,40% + aprox 500€
10.000.000-12.000.000€ 0,30% + aprox 500€
12.000.000-20.000.000€ 0,25% + aprox 500€

 

  • Notary Fee

The notary fee is calculated in most cases at 0.8 % + 24% VAT, of the property sale price in the contract. This fee is decreased as the amount of the purchase price is increased.

  • Land Registry Fee

Land registry fees include registrar’s rights, certificates, and stamp duty. They are calculated at 0.475-0,575 % of the sale price in the contract, plus 24 % VAT.

  • Lawyer Fee

The legal fee is a matter of agreement,but usually it is 1% of the property price or a minimum of 1.500 Euro plus 24% VAT. The legal fee is also affected by the extent of the service provided by the Lawyer and it is all upon agreement by mutual consent between the buyer and the Lawyer.

  • Real Estate Agent’s Commission :

The buyer pays 2.5 % + 24% VAT of the property price as a fee for the real estate agent.

Contact information

Kreta Eiendom SA
Arkadiou 1
74131 Rethymno
Crete
Greece

EOT-license 1041E60000079301

Business Hours

(winter season)
Monday and Wednesday 9-17
Tuesday,Thursday and Friday 9-21
Saturday 10-15

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