Crete
Property purchase taxes in Greece
A1) BUYING ANY PROPERTY EXCEPT PRIMARY RESIDENCE
- * -If you are buying property with a a new-build building there is the VALUE ADDED TAX (VAT). A vat 23% new-build property for sale in the building of the license is issued from 1/1/2006 onwards and not for primary residences. VAT is applied only on the first transfer. In subsequent transfers will have FMA
- * - if you are buying any other property there is REAL ESTATE TRANSFER TAX (FMA)
(It is the buyer if the property transferred is not subject to VAT)
1) For part of the consideration to 20.000,00 €, rate 8%
2) For the remainder of price, rate 10%
The amount of tax that would arise, charged with 3% municipal tax.
A2) BUYING A PROPERTY FOR PRIMARY RESIDENCE (summarizing its for Greeks or Eu citizens who work in Greece for 1+years and they as well as their childrens dont own a house or a build able plot)
Duty-free limits primary residence:
1) for house purchase by an unmarried, 200.000,00 €
2) for house purchase by a married, 250.000,00 €
3) for each child, the exemption shall be increased by 25.000,00 € for the first two and 30.000,00 € for the third and each subsequent
4) for the disabled over 67%, 275.000,00 €
5) for land purchase by an unmarried, 50.000,00 €
6) for the purchase of land by a married, 100.000,00 €
7) increase of 10.000,00 € for each of the first two children and 15.000,00 € for the third and each subsequent
B) OTHER TAXES - COSTS
Notary Fees: 1.2-1.5% of the value of the property.
Lawyer Fees: if the value of the property is over 30,000 euros you need a lawyer. The legal fees are 1% for the first 44,000 euros and 0.5% for the following amount, also a non-fixed fee for the legal control.
Land Registry: 0.5% to 0.6%
Loan: if you will get a loan 0.8-0.85% on the value of the underwriting (120% of the loan amount)
Booking a hotel-villa in Crete?
Crete
So let me guess,... You are comming to Crete!!!
In that case, the solution im going to propose you is this:
Crete Holidays Guide is an excellent source for villas and hotels in the island of Crete.
Villas, Holiday rentals in Chania, Rethymno, Heraklio and Agios Nikolaos.
Easy to search, lots of photos, details, prices, maps. Also a guide for beaches in Crete,
Weather and other info.
They are doing an excellent job promoting Crete with videos, photos, etc they also have their own online game themed from Crete!
Well done guys, keep up the good work.
Relocating to Crete island
Crete
Relocating to Crete is a pleasant but also a hard decision. If you need to work in Greece, then things might be harder. We recommend you to start looking for work before you decide to relocate. However Crete is ideal for vacations homes, retirement etc. Also if you can work from internet or have access to internet, then yes Crete offers wireless broadband everywhere. We recommend otenet, as it provides good speeds even at remote locations.
Most of the foreigners comming to Crete want a sea view villa, or a plot to build their dream home. If you need to work, then maybe finding a place close to your work is crucial, as you will probably need schools, services etc close in the future.
The cost of living in Crete is about the average in EU. Taxation (V.A.T.) on most products and services is 23%. The taxation on homes comes with the electicity bill, however it is still low, not anything worth considering. Even if you dont want to stay in Crete anymore then you could easily rent your property for an annual income, if you decide to rent then a pool, sea view or being close to a city is very important for your rental listing.
Finding an experienced real estate agent is a key factor. He can search the market for you and find you the best property for your specific needs, also future problems could be avoided with the correct guidance.
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