CHOOSING PROPERTY OR LAND 

Skiathos Information Services are now specializing in real estate and land and can provide you with a full, personal and high quality service in order to find a property or land to match your needs and requirements. However, before you think further about making a purchase, we advise that you closely study the points below and then contact us to view properties or land. 

The very first and most important step - know what you budget is. In your projections, you must include:

1. Purchase price 
2. Estimated renovation, refurbishment or decorating costs 
3. Lawyer and Notary fees (totalling about 3%) and taxes (9 - 11%) on the contract price.
4. Fees charged by agents such as ourselves (usually 2 to 3% of the total price) for an introduction to vendors, translating and mediating between the parties. See note below. 
5. Whether your funds are immediately available - all or in part. 

Building Permits are more expensive in Greece than many other EU countries and both the Building Permit costs and architect's fees are set by the Greek Government. A Building Permit will not be issued without confirmation that both the Permit fees and the architect's fees are paid into the architect's bank account.  These fees should always be quoted to you.

Skiathos is an island and all building materials, fixtures and fittings have to be imported and so are likely to be more expensive than in other EU countries.  Transport costs can also soar when a remote (and initially cheap) property is involved.

You will need to decide whether you want to live in the town, by the sea or in the countryside. If you do not know Skiathos, it may be a good idea to spend a few days touring to get an idea of the countryside, landscape and infrastructures. It is wise to keep an open mind on which part of Skiathos you want your home or land. We may have an ideal property or plot of land in an area that you would not previously considered.

Properties are many and varied. Every one has a dream of the property or land they would like, but unfortunately reality usually provides something different. If you wish to live in the town, you must bear in mind that you will probably have neighbours! Outside, quality of access roads may not be good. Older and traditional houses are sometimes no more than ruins and require much work.

There are three kinds of property: 

  1. The new, on which you will have to pay the full one time purchase tax and you know that you will "buy what you see".  This also applies to houses requiring basic renovation and refurbishment.
  2. A building plot on which you pay purchase tax on the land price only and where you can have the fun of designing your own home.  For those with sufficient income, this is the perfect because the house you build will be your ideal.
  3. The ruin, where again you only pay purchase tax on the value of the land and the ruin, which usually works out more interesting economically because less purchase tax is paid and one does not have to buy a minimum 4000 square metres in order to build. These plots are now few and far between.

Buying property or land in Greece need not be much more complicated than buying in your own home country, provided you use the same commonsense, apply the same methods, make the same normal legal checks and have a little more patience than you would in your home country.

The majority of buildings in Greece have been added to or built larger than their original planning permission and are thus, often, not totally legal. This is never a problem for Greeks who understand that Greek law is very flexible and legal technicalities can nearly always be "managed". This can, however, be a problem for non Greeks who are used to a system where the law is the law and everything and everybody complies with it. Our advice is to check as much as you can but be prepared to accept that "what you see is what you get" even though, on paper, there might be a smaller building than is registered or a larger building than should have been put on a plot.

Use a good and recommended Lawyer as well as a Notary Public, who are there to protect your title rights.  Without guidance of a professionally registered person, the strict planning laws could be your downfall.  For instance, some properties may not only require a Building Permit, but also official approval from the Ministry of Environment, Greek Tourist Board, Local Urban Administration, Forestry Department, Archeological Department and so on.

Greece is a country bursting with personality and a culture of its very own. If you are planning to live here permanently, will you be able to adapt to a very different way of life? As well as a list of wonderful reasons as to why you are looking to purchase in Skiathos, bear in mind that there is a lot of bureaucracy, which can sometimes drive you crazy. Also, as in similar Mediterranean countries, everything is done .... "tomorrow". Many people on a two week holiday in the summer do not realise that the climate can be extreme. It can be very hot in the summer and the winters can be quite cold and often wet. We get snow, but not usually too much. Strong winds are also a feature of Greek weather, summer & winter.

If you are only using your home for a short time during the year, you may want to privately let out to friends and relatives and earn a small income from this. 

You will need to declare the funds that you bring into Greece to ensure that you are not liable for income tax. The best way to do this is to open a Greek Bank account and transfer the funds from your home bank thus insuring that the funds are registered. You will receive a "Pink Slip" receipt for these imported funds, keep all pink slips as you may need them sometime in the future. As a home/land owner in Greece, you will in any case, need to complete a tax declaration form at the end of the tax year and will have to employ an accountant to do this.

We can advise and assist you in all these matters and furnish you with this most important requirement.

We can supply as much information as you require, not only relative to the property or land you are purchasing, but also on legalities, tax laws, title queries, residence permits and so on or put you in touch with with a recommended lawyer, notary, architect or civil engineer and an accountant  for further advice and information.

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