Costs and Taxes

According to the Greek law, which applies to the Greeks too, the additional costs a purchaser should calculate for the completion of a contract on Skopelos Island are:

1. Property Transfer Tax or Government Property Tax :

9% on the objective price or the tax office estimation price for the first 15,000 euros and 11% on the rest of the objective price above the 15,000 euros. The objective price or the tax office estimation price is always much lower than the value price of the property.

2. Local Municipal Tax :
3% on the total above government property tax.
3. Notary :

About 2.5 to 3.0 % on the objective price or the Tax Office estimation depending on number of pages, copies, etc plus standard fees.

4. Land Registry :
0,45 % on the objective price or the Tax Office estimation + standard fees 15 euros.
5. Solicitor's presence :

1% on the objective price or the Tax Office estimation for the first 44,000 euros and 0,5 % on the rest of the price above the 44.000 euros + standard fees 10 euros.


Example : You buy an old house in the town for a value price of 70,000 euros which has an objective price or a tax office estimation price of 35,000 euros

Property : 70,000.00  euros
Property Transfer Tax (15,000 x 9% + 20,000 x 11%) : 3,350.00  euros
Local Municipal Tax ( 3,350 x 3%) :   100.50  euros
Notary : 985.00  euros
Land Registry (35,000 x 0,45 % + 15) :  172.50  euros
Solicitor's presence (35,000 x 1% + 20) : 370.00  euros

Total

: 74,978.00  euros

Electricity Company

After the purchase of your new house, you should apply to the Electricity Company to change the supply and the bills into your name. Together with the application you should affix a copy of the new ownership (deed / title) and a recent electricity bill of the ex-owner. The costs are the following:

       

1 phase

     

3 phases

Electricity Company - Advance payment against Consumption       30*   euros       250*   euros
Electrician's Fund       75    euros       75    euros
Electrician - New Plan for Electrical Installation       50    euros       50    euros

Total

      155    euros       375    euros

* please note that the advance payment against consumption is 30 for one-phase of current, while properties with 3-phases of current pay 250. The majority of Greek houses are connected with one-phase of current.

Note : The above figures apply to properties (houses) on Skopelos Island and have been updated in November 2005.

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