Anyone who buys property in Greece, must have a Greek tax roll number (AFM) which is issued by the tax offices. It’s free and issued on the spot. Greeks and EU citizens must show their ID card. Foreigners living in Greece are required to present their passport or another valid document of identification and their residence permit. Greeks and foreigners who permanently reside abroad can also apply for an AFM. They must submit the application to a special tax office located at 18 Lykourgou St, Omonia in Athens.
OPENING A BANK ACCOUNT:
All transactions are in Euros. You will need to set up a Greek bank account to pay for your legal advice, transfer money and pay bills. There are foreign exchange brokers that can transfer large amounts to Greece according to the business rate. Payment of utility bills can be set up very easily by direct debit via the bank, and money can be transferred online.
A lawyer must be present, by law, when you go to the public notary for the signing of the purchase contract. The lawyer will undertake the task to search the property titles and find out if they are ‘clean' to go ahead with a purchase!
When buying a property in Greece add approximately 15% of the purchase price for fees and taxes.
Property purchase tax is based on the declared price of the property.
In Greece there are two valuations for property: the declared property value or objective government price (OV) and the market (sales) price (MV).