Reale state kosrealestate - Dodecannese
Reale state kosrealestate - Greece
Reale state kos


  • How I can buy property in Greece?

    Looking for property
    There are real estate agents in every region of and they can act either on behalf of the seller or the buyer. A contract is signed between the real estate agent and the client and the agent’s commission is included. The usual commission is 2% or 3% of the agreed purchase price (+VAT) and is paid by the party who hires the agent.

    The seller can be contacted directly, without the use of an agent and the contact details are usually noted with the property listing.

    Cost factors
    Water front or coastal properties situated close to holiday resorts will be more expensive. Also the larger city centres have higher property costs.

    Financing the purchase
    Greek Banks have a range of mortgage products. Interest rates in vary between 3-5% (at the time of publication - June 2005) but are still amongst the highest in the European Union. Over and above the mortgage costs there is a surcharge of fees and expenses.

    Land Registry Search
    Under Greek law property transactions require hiring a lawyer only if the agreed price in the Municipality of Athens exceeds €29,347 and in the rest of if the agreed price exceeds €14,000. Both seller and buyer are required to hire lawyers.

    In , lawyers are required to undertake the land registry search in order to ensure that the property is free and clear of legal problems (liens, mortgages, garnishments, expropriation, inheritance taxes, etc.). This is done at the Land Registry Office where the property is registered.

    The lawyer’s fee is at least 1% of the first €44,000 of the purchasing cost and 0.5% thereafter. The lawyer’s fee may increase up to 2%, especially when the land registry search is complicated.

    Local Authority Search
    Building provisions and local stipulations / restrictions are searched at the local authority office either by the buyer or his lawyer. It is often useful to hire a civil engineer who is acquainted with the area and its restrictions.

    Legal Requirements
    All EU citizens are governed by the same law for the purchase and selling of property in.

    Non EU citizens can also buy property in with the following stipulations:

    a) Both the buyer and the seller must provide:
    • A valid passport (or a legal identity card for EU citizens only).
    • A Greek tax number which can be obtained within 5 working days from the Greek Tax Authorities.
    • If either the buyer or the seller is a legal entity (i.e. company), all validating documents are required (i.e. statute etc.).

    b) The seller should provide annual tax return certificate which is issued by the Tax Authority, proving that there are no outstanding debts to the State.

    c) Properties close to Greek borders require special permission for the purchase.

    d) Certificates concerning the land issued by the Registration Office of the area.

    e) If the seller is a legal entity (SA) or is subject to Social Security Insurance (IKA), a related certificate is required.

    Transfer Taxation
    In there is a purchase tax of 9% up to € 15,000 of the contract price and 11% over and above that amount, payable by the buyer only. The stated contract price cannot be less than the official government price which is substantially below market value.

    Under Law N. 3427/2005, a Value Added Tax (VAT) of 19% of the contract price is levied on property / land whose building licenses were issued after 1 January 2006.

    Public Notary-Contract
    The purchase contract is drafted by a Public Notary and checked by the lawyers of both the seller and buyer. The Notary is usually selected by the buyer, who also pays his fee. The public notary’s fee is approximately 1,5% of the contract price. All parties must be present at the signing of the contract.

    Registration fees
    After the signing, the contract must be submitted to the Land Registry Office. Land registry fees are about 0.4% of the contract value plus a small sum for stamp duties and certificates.


  • Can negotiations be entered into in English/German?

    Negotiations can be entered into in English and German, although English is easier for all concerned.

  • What documentation would need to be brought to the island in order to purchase either land or property?

    In order to purchase land or property a foreigner needs to bring with them to the country their passport. It is also advantageous to bring evidence that any money used for purchasing has been taxed in the country in which it was earned.

  • Do you need a tax number?

    Yes, you need a tax number in Kos because you have to pay taxes on any property purchased.

  • Is it compulsory for you to obtain a local residency document?

    No, it is not compulsory to obtain a local residency document.  This is usually only required when purchasing a new car - not land or property.

  • What type of property is available, e.g. price ranges and size of accommodation?

    Properties available on the island include apartments and villas.  The lowest price for an apartment is approximately 80,000 euros and for a villa 100,000 euros.  The prices vary according to the district chosen.  The web site provides evidence of properties available at the present time with descriptions and prices.

  • What is the minimum size e.g. meters, of land that needs to be purchased for building a property?

    The minimum size of land that needs to be purchased outside of the town planning zone is 4,000 square meters

  • How much would it cost to build per square meter and what is included in this cost?

    The cost to build per square meter is 1,350 euros. This price includes all utilities - sewerage and most of the internal and external requirements - e.g. wardrobes, verandas. Electricity and Water nets (we are not responsible for the delay from Electric and water company).

  • How much are estate agent fees for buying and selling?

    Estate agent fees are 2% for both buyers and sellers.

    Minimum real estate agency fee is 1,500 euros for both buyers and sellers.

  • How much it costs a lawyer?

    The lawyer's fee is defined as follows:

    • For contract price until 44.020 € is 1%
    • For contract price from 44.020 € to 1.407.351 € is 0,5%
    • For contract price from 1.407.351 € to 2.934.702 € is 0,4%

    The legal control of the property is charged additionally, usually is around 150 €.

  • How many weeks/months should it take from initial purchase to completion of either building a property or buying an existing property?

    We are anticipating that we will complete your property between 6 & 8 months.Is not included the time that needs for the permit of construction and the connections with the networks of water and electricity.

  • Would all monetary payments be made in euros?

    All monetary payments would be made in euros.

  • What else do we provide as a real estate office?

    Except the mediation for the selling and the buying of properties our office is taking over the edition of the building permit and the construction, the decoration and the configuration of the building space, the restoration and generally any building work, which is needed for the property. So in that way we offer a complete packet of services to the client.

  • What is the cost for the legal expenses & the tax office?

    • The notary's fee set at 1.2% of the stipulated value of the contract. You will need to pay for the additional costs such as notary stamps, fees, preparation of tax returns and summaries, copies of contracts, second sheets etc. Furthermore, for a contract that was written but not signed, the notary is entitled to receive fee, but should not exceed 500 €.
    • The fee for the transfer of registrar of mortgages (purchase) of property amounts to 0.475% of the contract value.
    • The conveyance tax for a property is 3%. 

  • What do I have to take care in the buying of property in Kos ?

    To buy a property in Kos you have to attend local office which deals in real estate

  • What documentation do I need for getting a loan?

    A. PRELIMINARY APPROVAL (based on your income level)

    • Identification card.
    • Tax return or Ε1 form of the previous financial year.
    • Recent income statement or last months salary/pension slip for salaried/retired persons.
    • In case of another loan with a third Bank/Organisation, submission of a loan servicing certificate or the last two loan statements indicating regular loan servicing.
    • If you have landed properties: Form Ε9

    Economic Immigrants are required to submit the following:

    • Passport.
    • Latest tax return or Ε1 form.
    • Salary slip (for salaried).
    • Stay permit valid upon loan preliminary approval.

    If the Stay Permit has expired:

    • Certificate of application for stay permit renewal.
    • Effective work permit.

    If the address stated on the application is different from that on the tax return, a DEH or OTE bill should be produced indicating an address identical to the one stated on the application.


    • A copy of ownership title (photocopy).
    • Ownership statement submitted to the National Cadastre or Land Registry extract.
    • In the event of construction, completion or repair works with a certificate of work progress on the mortgaged property, submission of a Project Budget signed by a Civil Engineer or Architect.
    • A copy of the building permit along with the following drawings (photocopies of the approved drawings):

    Α) Topographic plot.
    Β) Coverage plot.
    C) Floor plans.

    (1) Specific drawings have to be produced depending on the type of the property:


    • If it is an apartment/store in a multi-storey building, only the floor plan is required.
    • If it is a land property, only the most recent topographic plot is required.
    • If it is a rural land property, only the topographic plot of the past six months along with an engineers land use statement and a Solemn Statement of Law 651/77 on land wholeness and buildability are required.


    (2) If the financed property is different from the mortgaged one, it is additionally required to submit a Solemn Statement indicating the purpose of the loan, property ownership and cost of works, as well as Ε1 or Ε9 or Ε2 form evidencing the property ownership.