Property Lawyers in Greece - Updated for 2021
Property Lawyers in GreeceUpdated on Friday 13th August 2021
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The purchase of real estate in Greece involves several issues and procedures that will inevitably make you deal with the bureaucracy of the local government. The legal framework in which these types of transactions are framed is the Greek civil code, which has some similarities with other European jurisdictions.
To get a property in Greece, you will need the help of our real estate lawyers in Greece who can help you because generally, you will require, in addition to a sale and purchase contract, also the the Land Registry certificate.
It will do you no good just to get the title of your new property if you do not have a team of Greek lawyers to help you register this document with the real estate registration authority in Greece.
Observing these requirements on your own not only takes a lot of time, but it also takes experience dealing with the Greek authorities to expedite the process as much as possible.
Our law firm in Greece can assist you in the process of acquiring property in any part of the country.
This way, you only have to worry about choosing the type of real estate project you would like to participate in, and our real estate lawyers in Greece will take care of the paperwork.
Is it necessary to have a property lawyer in Greece to buy real estate?
It is necessary to be represented by a team of real estate lawyers in Greece to purchase properties in this country regardless of the purpose for which the acquisition is being made (residential or commercial purposes). Greece is not the only jurisdiction that requires mandatory legal assistance for this type of transaction.
Property lawyers in Greece are mainly involved in the drafting and ratification of the sales contract. Still, it is common for them to also represent you in the cadastral search and in assisting the owner of the property inentering its title in the Greek property registry.
A consequence of this policy is that in Greece, buying a property is a clear process without misunderstandings because both parties are properly represented by Greek lawyers who protect their interests in the proper way.
If you want to know more about the requirements to be fulfilled in order to acquire a real estate property in the Greek market, we recommend you to talk to a team of specialists in the field and to a law firm in Greece that can give you detailed information about the local legislation.
What do I need to register a property in Greece?
There are several requirements and conditions that you must fulfill before you can register a new property with the Greek authorities. But the most important and the ones you should mainly keep in mind are the following:
- With the help of your real estate lawyer in Greece, you should make sure that you have verified that your property documentation is properly done and that it does not need amendments or adjustments. This verification process is crucial because once you start the real estate registration process with the authorities, it is very difficult to make corrections on the fly.
- Gather and present the documents required by the authorities to process the application. Generally, the authorities will ask you to have:
- Copies of every deed evidencing your rights to the property (e.g. a copy of the contract)
- Proof that you have made the deposit or transfer corresponding to the registration fee in the Greek property registry.
- Copy of your valid identity card or valid passport.
- Tax identification number.
What kind of real estate can I buy in Greece?
In general, the real estate projects that our property lawyers in Greece can help you buy are divided into two classes. On the one hand, there are the properties that fall within the General Plan of Ordination, and on the other, some properties fall outside this Plan.
The properties within the General Management Plan are generally the ones that you will be able to access because there are more of these types of properties on the Greek market. These are known in Greece as construction sites, although buildings or residences already constructed also fall into this category, which you can also buy.
Overview of the Greek real estate market
Of course, investing in real estate is one of the biggest commitments anyone can make to a jurisdiction. In the Greek case, fortunately, there are figures to justify such an investment:
- Currently real estate purchases account for 25.3% of foreign direct investments in Greece.
- Property prices in Greece are significantly lower than in other European jurisdictions.
- The local government has promoted tax incentives related to real estate purchase such as a 30% reduction in the single property tax.
- On average, the yield for a property in an average area is 4%.
If you want to know more details about how to buy a real estate property in Greece, contact our team of Greek real estate lawyers right now to review your case on a personalized basis.