Advantages & Disadvantages

What to take into account

There are both advantages and disadvantages to buying a home in Greece, although for most people the benefits far outweigh any drawbacks.

Among the many advantages are:

Naturally, there are also a few disadvantages, including:

Before deciding to buy a home in Greece, you should do extensive research and read a number of books especially written for those planning to live or work there. It also helps to study specialist property magazines such as Homes Overseas, Homes Worldwide, International Property and World of Property, and to visit property exhibitions such as those organised by Outbound Publishing (1 Commercial Road, Eastbourne, East Sussex BN21 3XQ, UK, (Tel. 01323-726040; www.outboundpublishing.com ).

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Bear in mind that the cost of investing in a few books or magazines (and other research) is tiny compared with the expense of making a big mistake – however, don’t believe everything you read or are told!

Restrictions

EU Nationals

There are no property ownership restrictions for EU nationals, although if you wish to buy in a border area you must obtain a permit from the local authorities. This is usually issued automatically.

Non-EU Nationals

Non-EU nationals (unless they are of Greek descent) aren’t permitted to purchase property in certain areas of Greece for security reasons. The areas are usually border areas on the mainland such as Ioannina in Epirus; Florina, Pella and Thessaloniki in Macedonia; Halkidiki in northern Greece; some islands including Lesbos in the Dodecanese; and Chios and Samos in the North-eastern Aegean islands. Waivers can be obtained and usually involve forming a Greek company, but the procedure is long and expensive.


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