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.


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

    Real Estate Fee from Owners (Sellers) for the Sale of Property:
    - commission 2% + 17% VAT. on the final sale price of the property, when it is located in the Prefecture of Dodecanese.
    - commission upon agreement + 24% VAT. for the sale of the property when it is located outside the Prefecture of Dodecanese
    - For sales of real estate with prices below 50,000 euros the real estate fee is set at 1000 euros (or by agreement)
    - For sales of real estate with prices over 2,000,000 euros, a discount is provided upon agreement.
    Real Estate Fee from Buyers for the Purchase of Real Estate:
    - commission 2% + 17% VAT. on the final purchase price of the property when it is located in the Prefecture of Dodecanese
    - commission upon agreement + 24% VAT. for real estate purchases outside the Prefecture of Dodecanese
    - For real estate purchases with prices below 50,000 euros the real estate fee is set at 1000 euros (or by agreement)
    - For real estate purchases with prices over 2,000,000 euros, a discount is provided upon agreement.
    Real Estate Lease Fee:
    - by homeowners, commission 1/2 of the rent + 17% VAT. for renting the property
    - from owners of commercial premises (shops, offices, etc.) commission equal to a rent + 17% VAT. for renting the property
    Real Estate Fee from Real Estate Tenants:
    - commission 1/2 of the rent + 17% VAT. for renting the property
    - commission a rent plus 17% VAT. for renting real estate for commercial use
    - commission 2% + 17% VAT. on the final sale price of the property, when it is located in the Prefecture of Dodecanese - commission by agreement + 24% VAT. for the sale of the property when it is located outside the Prefecture of Dodecanese

  • Can the negotiations start in English or French?

    Negotiations can be done in English or French, the purchase or rental contract is written in Greek and translated by a translator into any language needed.

  • 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 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.

  • Why do you have to sign a property order?

    When you visit a property, the professional real estate agent will ask you to fill out the special form for these cases which in the official terminology is usually referred to as the "Brokerage Contract", or "Opportunity Suggestion Order" and in most forms is approved by the Federation of Real Estate Brokers of Greece (OMASE) and the Association of Real Estate Brokers of Attica (S.M.A.S.A)
    The role of this form is multiple. Specifically:
    It serves security issues regarding the property and the persons who live in it. Consider that a real estate agent when promoting a property, can theoretically show it to dozens of different people, with unknown intentions. In fact, in cases where the property is inhabited, the sensitive personal data of the people inside it are at stake, as well as their security. It is therefore reasonable and logical to keep a detailed file with the details of those who visited the specific property. With the instruction command, then, nothing more applies than the well-known principle we all follow for ourselves: We do not put strangers in our house.
    So it makes a lot of sense, especially for residential properties, for the professional real estate agent to refuse to show you the property and reveal the exact location where it is located, if you refuse to sign the relevant referral order. Put yourself in the place of the owner. How would you react if your broker revealed that he does not know the slightest thing about the man he just brought to your house ...? An explicit order of the Federation of Greek Realtors and local associations to professional real estate agents is to strictly comply with the conclusion of the order to suggest a property.
    Ratifies the brokerage fee agreement. In other words, it shows the sincere intention of the signatory, to use the real estate services of the real estate agent, in order to buy the specific property, if he meets the conditions that he has set and then to pay the specific fee to the professional for his mediation in the final closing. of the agreement. Caution! Make sure that the person in front of you is a legal professional real estate agent and not someone who is acting as a broker, or serving interests unknown to you. Always ask for credentials of the professional capacity of the person who is presented to you as a real estate agent, in order to avoid mischief. Remember that if the person appearing as a broker is not legal, then you are not required to pay a brokerage fee.
    It secures the buyer himself from malicious actions and from incompetent professionals. Having signed a referral order, you officially authorize the professional real estate agent who serves you to act in the future to search for a property on your behalf. By keeping a record of these orders, you can easily see afterwards which real estate agents you worked with, which properties you saw, as well as various remarks you made on the copies of the orders.
    At the same time the indication orders are an unshakable proof, both for the announced price, and for the details of the real owners, but also of the basic characteristics of the property that you saw. This protects you from arbitrary price changes, usually afterwards (!) And from non-existent excuses. For a careful buyer, all this is a way of verifying the accuracy of the information he receives, but also as a consequence of the evaluation of the professionals with whom he comes in contact, so that he can easily choose the most correct one. Be careful! Unauthorized brokers do NOT have real estate referral forms and should be especially wary of them. Suggestions "in words" without any written proof of what you saw, to whom it belongs, when and with whom you saw it, should be explicitly avoided! You ask for a prompt on your own and you always ask for a copy.
    In addition, archiving these forms on your part will provide you with useful information, helping you to avoid seeing the same property twice by different professionals and committing to them.
    Finally, it provides useful information to the property owner. The number of appointments made, the respective dates, the price notified to the interested parties, the people who visited the property, are evidenced by the indication orders.