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Office in Thessaloniki:

Greece, Thessaloniki
st. I. Polemi 37, 54248
Mob .: +30 6978181319 (Viber, WhatsApp)
Tel.: + 30 2311 11 11 77

Athens office

7, Koundouriotou str., 17122,
N. Smyrni, Athens, Greece
Tel .: +30 (210) 941-97-57
Fax: +30 (210) 942-08-95

Crete office

Greece, Heraklion, 71500
Tel .: +30 (281) 810 33 20



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general information

Unlike many European countries, Greece can boast of relatively low prices for real estate - both residential and resort. This applies not only to the acquisition of the latter, but also to the costs of its subsequent maintenance. And if you consider that the Greek real estate market, after a long-term decline, is again experiencing stable growth, then buying and maintaining real estate in Greece can be a very profitable investment of funds. How much it will cost to purchase a house in Greece is a topic for a separate article; now let's figure out what the costs of its subsequent maintenance will be.

Real estate taxes

ENFIA

ENFIA is an annual compulsory tax on Greek property , replacing the haratsi emergency duty in 2014. The subjects of taxation are both individuals and legal entities, who own any real estate located in Greece.
The tax amount is calculated on the basis of many parameters, including the square, year of construction, location features, type of permitted use, etc. The approximate amount of tax will be about 3-5 euros per square meter. If you own several properties, the final amount will be calculated based on their total value and other characteristics.

Additional property tax

In the event that the value of all your real estate in Greece exceeds 300,000 euros, it is subject to additional tax. Its payment is based on the total value of the property:

  • At a rate of 0.1% for a total cost of € 300,000.01 to € 400,000
  • At a rate of 0.2% for a total cost of € 400,000.01 to € 500,000
  • At a rate of 0.3% for a total cost of € 500,000.01 to € 600,000
  • At a rate of 0.6% for a total cost of € 600,000.01 to € 700,000
  • At a rate of 0.7% for a total cost of € 700,000.01 to € 800,000
  • At a rate of 0.8% for a total cost of € 800,000.01 to € 900,000
  • At a rate of 0.9% for a total cost of € 900,000.01 to € 1,000,000
  • At a rate of 1.0% for a total cost of € 1,000,000.01 and above

Utilities

Electricity

Greece has a state-owned energy company (ΔΕΗ) that produces and distributes electricity in the country. If you wish, you can change it to one of the private companies - alternative suppliers of electricity, where prices can be lower and there are various tariffs, from which you can choose the most convenient. The size of the bill depends, as expected, on energy consumption: approximately, the price will be from 1 to 3 euros per sq. m area.
Electricity bills come with a frequency of once a month or once every two months. Once a quarter, a consolidated bill is received based on the meter readings (ekkafaristiko); in the remaining months, advance invoices (enandi) are issued, based on an approximate amount of the previous eccafaristiko amount.

Heating

Since there is no central heating in the usual sense in Greece, it is important to pay attention to the type of heating when buying real estate. This largely determines how warm your home will be in winter and how much you have to pay for it. Heating can significantly affect the cost of maintaining an apartment in Greece.

Basic types of heating

  1. Central heating. Unified heating system of an apartment building. Residents buy their own fuel (gas or fuel oil) and distribute costs between apartments. The preliminary amount is usually paid at the beginning of the heating season, and the final calculation of the cost occurs at the end of it. As a rule, in houses there are certain rules for using the heating system - for example, a schedule according to which it is allowed to turn on and off the heating.
  2. Individual heating. Autonomous heating systems (it can be diesel, gas or solar panels), which are an alternative to central heating. There are some nuances here: for example, for the installation of such systems, it is necessary to obtain permission from the relevant state authorities, and in the case of an apartment building, the owner is obliged to notify the residents of other apartments about his decision to disconnect from the central system and about the transition to a new type of heating.
  3. Heating devices. This category includes air conditioners, radiators and all kinds of autonomous appliances that can be used to heat a living space. In this case, instead of heating bills, you will expect additional electricity costs. The main disadvantage of this type of heating is its relatively low efficiency: it is difficult to heat a large room to a comfortable temperature using a radiator, and immediately after turning off the air conditioner, even the most powerful one, the temperature in the house will drop sharply.

The individual heating system has its advantages, the main among which are the ability to not depend on the heating season and turn on / off the heating at any time. Among the minuses is the need to select and install a heating device and almost always a higher cost.

House and adjacent territory

Home maintenance

Maintenance of an apartment building or the common area of a complex - the so-called kinochrista - is a separate item of expenses for the maintenance of real estate in Greece. This includes cleaning entrances and adjoining territory, replacing light bulbs or other lighting fixtures, repairing and maintaining an elevator and other objects that are in the common property of all residents. The Kinochrist is paid monthly. The amount is usually fixed and ranges from about 10 to 40 euros, depending on the size of the house, its number of storeys, the availability of an elevator, parking, etc.

Maintenance of the local area

This expense item applies to owners of individual villas or cottages / townhouses in the complexes. It can be difficult to estimate how much it costs to maintain a cottage in Greece, in particular, due to the costs of maintaining the territory: it all depends on its size, the availability of a pool, parking, playgrounds, courts, etc. Services for the maintenance of the local area include cleaning it, the services of a gardener and other workers, garbage disposal, water supply for automatic irrigation systems and summer showers, pool maintenance, as well as security services, landscape designer services, etc.

Phone and Internet

Typically, telephone and Internet services are provided by the same provider. Invoices are paid once a month, their amount is usually from 25 euros. The bill is expected to increase in the case of frequent use of a landline phone and long distance calls. There are several large companies supplying this type of service in Greece, so you can choose the most suitable option from a variety of services and tariffs.

The specialists of Greece Invest will help you to buy and maintain real estate in Greece. We provide a full range of services, including all stages of real estate transactions - from the selection of a suitable property to the moment of registration of the contract. The company has a dedicated department dedicated to managing your property in Greece, etc. You can choose the most suitable package of services , leaving the care of your home in safe hands.

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