Holiday home in Greece - Take the chance now and buy cheaply

For years, the real estate market in Greece has been subject to devaluation. Now it has stabilised, which is why now is the right time for you to buy a holiday home in Greece. Nevertheless, prices for holiday properties are reasonable and the supply of houses and flats is large. For most locals, buying and owning property is not yet affordable. That's why I'm taking the chance now and buying a holiday home cheaply in the most beautiful parts of Greece.

Of course, this depends primarily on the condition of the holiday home, the region it is located in and the size of the property. If you want to buy a holiday home in Athens, for example, you have to expect about 200,000 euros for 100 square metres of living space. Not exactly a bargain at first glance, but property prices will rise again in the foreseeable future, so the holiday home is not only a first-class hostel for your holidays, but also an excellent financial investment for you.

If you want to buy a holiday home in Corfu, for example, you have to reckon with about 180,000 euros for 100 square metres of holiday home. A holiday home in Thessaloniki is considerably cheaper at around 100,000 euros for approx. 100 square metres. But no matter whether you choose a holiday home on the mainland or on an island: Compared to holiday properties in Germany, the houses in Greece are indeed cheap. What's more, property prices are currently stagnating in many areas of Germany. A holiday home in Greece is therefore the better value investment.

As a foreign buyer of a holiday home in Greece, you are on an equal footing with the locals. So you don't have to worry about paying a so-called "foreigner's surcharge" when buying a holiday property. It is also not necessary to buy a holiday home in Greece through a local, as is the case in many other countries. You only need a Greek tax number, which you apply for at the local tax office.

If you consider your holiday home in Greece as an investment, you should be aware that you will have to pay up to 25% of the difference between the sales price and the purchase price as capital gains tax if you sell your property within five years. A holiday home in Greece is therefore definitely not suitable for making a quick buck and should rather be seen as a long-term investment.

Buyers, sellers and notaries draw up a preliminary contract, which both parties sign, after you have reached an agreement on the spot. Afterwards, a deposit is due, which amounts to about 5-10 % of the purchase price. About a month later, the seller and the buyer sign the final purchase contract at a notary's office, which is notarised. This is followed by the entry in the land register and the payment of the remaining purchase price plus taxes, which are also due on the purchase of the house.

Important: If possible, you should visit the property in person before signing the contract, because many Greek properties are already relatively outdated. It is advisable to check the building structure or have it checked.