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Additional Information About Greece

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Living Expenses in Greece

Property maintenance costs are not high in Greece. They include property tax, property insurance, and service and public utilities costs.

Property Maintenance Costs

  • Property tax
  • Property insurance
  • Service and public utilities costs

Property insurance is not compulsory in Greece. But if the purchased property is mortgaged, the insurance of mortgage amount becomes compulsory. The annual property insurance premium amounts to approximately 350 Euro.

Service and public utilities costs are paid by the meter. An average amount of service costs paid by a 50 m2 apartment owner is above 600 euro per year.

Daily Living Costs

Item Unit Price (€)
BusTicket1
Petrol1 liter1.70
Car rentalper day45+
Taxi1 km1
Meat (pork)1 kg5
Bottled water0.5 l0.50
Oranges1 kg0.50
Seafood1 kg9
Dinner at a tavern1 person15

Service Costs

Service Unit Price (€)
ElectricitykWh0.094
Waterm³0.41-0.65
Telephone + Internetper month26
Natural gasm³ (11 kWh)0.792
Diesel fuel1 liter1.30

Advantages of Greek Legislation

  • Along with property title, the buyer acquires Title of ownership of the land where the property is located.
  • The government doesn't check the origin of foreign capitals.
  • Signing of Particular Agreement entitles the Buyer and family to Schengen Multiple entry visas.
  • Low tax scale for property gifts and for property acquired as parent legacy.
  • Third country (not EU) nationals are allowed to buy property in Greece.
  • Special Rules registered in official Property Register apply to all apartments, houses and villas.

Greek Property code, one of the oldest in the world, is strictly observed in the country. It guarantees property insurance and validity of every Title transition contract.