Documents

You must always ask whether the property documents are prepared. If they are not, you can even expect years of proceedings. There are quite a few properties on the market that could be sold but do not have the right documents. This is a waste of time. The most important document in that case is topografiko – topography map from land registry. Must be analyzed through by both lawyer and engineer, to find out possible risks.

Plot boundaries

Land registers appeared in Greece in the 1970s. The initial measurements were not necessarily accurate and plot boundaries were often established by neighbours from memory. Only after the purchase did we learn that the seller could and should be required to disclose the plot boundaries. Read more our story on that.

Buildable area

The buildable area of the plot is strictly regulated in Greece. If the plot is outside the village area, it must have a minimum of 4,000 square metres to be able to build on it. Law has changed in 2023, building permits are valid for two years (during which time construction must start). So, when buying a plot of land, ask the engineer about the buildable area. Ask also how is the maximum area of the future building and where physically on the map the building can be built. Last but not least, check in reality, whether that makes any sense.

The place to build is regulated by several restrictions, such as the distance from the plot boundaries, from the forest boundary, from the stream (rema). The delimitation of where a house can be placed must be done by an engineer who understands all this. In our case, on a plot of 4 500 m2 there was basically one place where the house could be placed. Luckily the site has a view and access from the road, but this is not necessarily the rule.

Electricity and water.

It is worth asking about the distance to basic utilities: water and electricity. The possibility of drilling a well is regulated by law; according to what we have found out, if there is a water supply, the chances of such a permit are small. And there may not be any water on the plot at all. And bringing electricity to the plot takes time and can be expensive; the cost of one pole is about €1,000 and the poles should be no less than 25m.

Building on the slope

The slope of the plot is another parameter to take into account. With steep slopes, the cost of construction almost doubles. Above 25% is theoretically not allowed to be built, although the Greeks have a different opinion on this. It is also important to bear in mind that torrential rains come to Corfu, and weekly rainfall in winter is more the norm than rare. And this means an increased risk of landslides, meaning that fortifications and systems to drain excess water are required.

So much for the chance of a beautiful view from the windows on a sloping plot.

Transaction

In order to complete the transaction, a foreigner from the European Union shall set up a bank account and obtain a tax number. It is possible to pay for a property from a foreign account, but property taxes have to. After the transaction, it is necessary to involve an accountant who will calculate the land tax and file the appropriate declaration.
It is safe to assume that the transaction costs (lawyer, estate agent, taxes, notary) will reach 10% of the property price and will take 1-3 months to complete.

Yes, for all of that take a Greek lawyer. One who speaks a foreign language, emails and whatsapp. No, it’s not easy.