Why and how to buy a luxury property in Greece?

If you are considering buying a luxury property in Greece, here you can find more about the advantages of Greek properties and the different stages of the buying process. Discover more here!

Why should you buy a luxury property in Greece?

In recent years, owning a vacation home by the sea has proved to be a great advantage. Buying a second home outside the big city has become a desirable investment for many. And what better place for a long summer holiday or a weekend break, than an exotic destination, in a convenient location, with a rich past and breathtaking views?
Located just a few hundred kilometers from Sofia, our southern neighbor offers a wide variety of beautiful beaches, enchanting views, and the opportunity for a relaxing holiday among nature.

Every year the Halkidiki peninsula attracts many tourists from around the globe. The combination of fresh seafood, clean and spacious beaches and uncompromising service is what many bulgarians expect to discover during their summer holidays. As a result, everyone looking for an exclusive experience turns to investing in a luxury property by the shores of the Aegean or Ionian Sea. Bring the luxury of home to your second home by the sea to use for temporary stays and relaxation at any time of the year.

Great investment

Investing in a property on the Greek seaside is quite an attractive option for people with good financial standing who are looking for the combination between comfort and exclusive experiences close to nature. As the active summer season approaches, you look forward to the moments when you will indulge in complete rest and relaxation in a beautiful and exotic location. And what better place for your next family villa if not near the azure beaches of our southern neighbors! Compared to a number of European destinations at a considerably greater distance, Greece has its own competitive advantage for investing in a prime property – its attractive estate prices. All this in close proximity to the turquoise waters of the Aegean Sea.

Simple process for EU citizens

The policy for buying and registering a property in Greece for European citizens is quick and easy. Before 2011, according to Greek law, the acquisition of real estate on the territory of the country by foreign citizens required a permit from the Ministry of Defense. Accordingly, this made the whole process even more complicated, and the time needed to finalise transactions was many times longer. Since 2011, however, the procedure has been lightened, so now you can get your second luxury home in less than a month.

Exotic location

Spacious beaches, crystal clear water, tranquility and high quality service attract thousands of tourists every year not only from Bulgaria, but from all over the world. Everyone who has visited even a part of the Greek islands manages to immerse themselves in their atmosphere. In addition, holidays on the Greek islands give the opportunity to practice various activities. Starting from leisurely walks along the beautiful shores and ending up with opportunities to practice various sea sports and yacht trips in the sea.

Moderate construction

A significant drawback that drives Bulgarian tourists away from some resorts is the overdevelopment of the beaches. This is also the reason why those looking for a first-class property by the sea are turning to our southern neighbors. In Greece, the beaches have retained their natural charm and beauty. In the towns, there is a greater focus on low-rise buildings, detached villas and small and cosy streets where true tranquillity reigns.

Absorbing culture

Besides its enchanting nature, the Greek lands have a rich history and absorbing culture. During your stay you can discover many historical and architectural sites. Regardless of where you choose to buy your holiday property, museums, galleries and other architectural sites will be available nearby.
Contribution to the formation of Greek culture was the influence of various cultures from all over the world, over several centuries. We should not overlook the fact that Bulgarians have always been warmly welcomed by our southern neighbours as a result of our location, our common past and our love of seafood.
Greek food, music, mythology and peculiar history are just some of the reasons to choose Greece as the location for your new villa by the sea. You can dine on fresh seafood in some of the most elite restaurants, where the service is top-notch.

How to buy a luxury property in Greece?

Buying a property in Greece has no significant differences with the buying process in Bulgaria. The first step is determining the criteria you want your prestigious second home to meet. This way your consultant will be able to present you with relevant offers that meet your high requirements. Then, of course, you should start going on viewings, where you will find out more about the advantages and disadvantages of the offered holiday properties.

Ask for your consultant's expert opinion and be sure to ask him about the additional costs that accompany the purchase of a prime beachfront property. A professional consultant will negotiate with the seller and work entirely in your favour to arrange the best price on the best possible terms.

You should seek the services of a legal practitioner executing locally to make the necessary checks. Then comes the step of signing the preliminary contract and after that the final agreement, notarization, registration and registration of the property in the relevant registers.

Choose your lawyer and notary

The services of competent lawyers are crucial for the smooth finalization of the transaction. The lawyer will make all necessary enquiries to the Mortgage Registry for the title. Apart from a lawyer, you will also need a notary to authenticate the attached documents. The notary also prepares the preliminary contract and is in charge of the actions, after which the buyer will receive the deed of ownership of the property.

Tax ID number

In order to proceed with the process of purchasing a luxury property you need to register a tax identification number. An important clarification is to obtain this number no later than 7 days before the notarization of the contract. It is best to have it already after the verification by a lawyer or after the capitalization of the villa.

Transfer tax payment

The purchase of a real estate in Greece is accompanied by the payment of tax to their Inland Revenue Agency. It is advisable to use the services of a lawyer for this procedure to guide you through the whole process.

Signing the mortgage loan

The agreement is signed by both parties to the transaction in the presence of the notary. It is crucial to note that the original contract, which remains in the notarial archives, is signed only in Greek. If the buyer so wishes, a lawyer can be hired to act as a translator to verify that the contract is written correctly. In this way, the buyer can get the contract in a translated version.

Transfer to Mortgage Register

The responsibility for recording the transaction in the Mortgage Register rests with the notary.

Unique Estates offers luxury properties for purchase in Greece. Part of the company's portfolio are prestigious villas in Northern Greece – the Halkidiki peninsula, as well as on the islands of Mykonos, Corfu and Zakynthos. Our professional consultants will assist you with the selection of a villa by the sea, as well as with the preparation of all documentation accompanying the purchase transaction. Explore our exclusive offers for buying a first class villa in Greece here!