General info for buying a property in Greece:
Trustate can guide you with absolute precision throughout the process of buying a property. What you need to know about the process of buying a property:
Initially, if one of the parties to the transaction of a purchase is not Greek, it is necessary to prepare the following documents to proceed with the process.
First, it is mandatory to draw up a power of attorney. This is drawn up by a Greek notary with the obligatory presence of a double-accredited translator. This document authorizes the lawyer to act on the foreigner’s behalf. Apart from that It also contains the powers granted to the lawyer for the purposes of the Principal Property Purchase Agreement drawing and execution. Thus, the buyer doesn’t have to deal with long and complicated procedures of the purchase.
The lawyer who is acting in the name and on behalf of his buyer, registers him as a taxpayer in Greece and opens a bank account in a state bank in buyer’s name.
After completing the inspection of the property, he prepares a report, signs, and certifies it and delivers it to the prospective buyer.
After this task is completed, the licensed attorney prepares a title transfer tax return and submits it to the local tax authority. The tax rate is 3.09% .
Once this process is completed, the buyer and seller sign the main property purchase agreement in the presence of the notary and an accredited translator.
After signing the agreement, the lawyer registers it in the State Property Registry, which is the final, integral, and mandatory stage of the property purchase transaction.
After the agreement is finally complete, the buyer receives the complete package of documents certificate, like the energy consumption plan the layout plan of the property its topographical plan and everything else that is necessary.
Among the company’s goals is to be able to secure a stable income for the owner through the acquisition and subsequent proper exploitation of the property.
The investments that are worth noting are those of short-term leases which, with proper management, can bring a large profit to the owner, due to the tourism sector which in Greece is very developed, especially during the summer season.
Earning passive income through long-term rental is a good way to increase earnings. With the proper and effective management that our company makes, it can initially judge the suitability of a tenant in the first stage and in the second to ensure to the greatest possible extent that all payments related to the property will be made on time by each tenant. In this way, the owner needs to be involved little or not at all in dealing with the issues that arise in his property.
Another example of investment in Greece which undoubtedly yields a great profit is the hospitality sector with the acquisition of hotel units. The tourism sector in Greece is strongly developed and with an effective management the respective hotel can generate a significant profit, increasing its income more and more often.
Trustate can offer you a variety of options regarding the successful management of your property whether it is a short-term or long-term residence.