According to the Greek immigration law, applicants can apply for immigration to Greece by investing in real estate worth more than 250,000 Euros. Today, we will provide some knowledge about immigrating to Greece with 250,000 Euros.
1. Calculation of Property Area in Greece
The so-called area. Most Chinese people will ask, what is the local construction area? How large is the usable area? And what about the shared area? We are not familiar with the home buying process abroad; will we be deceived?
In Greece, all properties refer to the usable area. We hope everyone is cautious about misleading information in the market and does not fall for scams. For example, 250,000 Euros can buy an 80-120 square meter apartment in the center of Athens (this does not include the area of balconies, gardens, storage rooms, and garages that may be included).
2. Calculation of Property Taxes in Greece
Speaking of taxes, the details are as follows: If purchasing a new property, a 24% value-added tax must be paid. A new property is defined as one that has never been used or traded, and the building permit was obtained or changed after 2006. Otherwise, it is not considered a new property. Therefore, the buyer only needs to pay a 3% transaction tax. Of course, if it is a rental property, rental income tax must be paid.
3. Regarding the Calculation of Lawyer Fees
As for hiring a lawyer, can this cost be avoided? It can be clearly stated that this is an unavoidable expense. Because Greece has mandatory legal provisions requiring buyers to hire a property lawyer.
Regarding lawyer fees, it is approximately 1.24% of the property price, and one point to remind everyone is that the relevant agreements for purchasing property in Greece are in Greek. Therefore, if you do not understand Greek and do not have the help of an intermediary, it may be very difficult to understand the details of the agreement terms.
4. How to Choose Investment Areas for Greek Real Estate
Real estate investment in Greece varies for everyone, and everyone will have different choices. For example, the Acropolis in central Athens is a place rich in historical sites, densely populated, and with well-developed infrastructure. It mainly features small apartments.
As for the southern area, it belongs to an emerging affluent district, with clean communities, high-quality neighbors, good greenery, low housing density, and good space, featuring sea view properties. In the northern area, this is a traditional affluent district, with beautiful environments and high greenery coverage, and is also favored by many politicians, doctors, and lawyers.
In the eastern area, it mainly consists of villas and duplex apartments. The northern and eastern areas are also gathering places for many international schools, concentrated in school districts.
Investors are still encouraged to personally visit Greece for inspection, carefully comparing the surrounding living environment and current needs to make better choices. Greece's tourism resources are abundant, welcoming thousands of tourists from around the world every day.
5. Quality of Education in Greece
Speaking of education, after obtaining residency in Greece, children can attend public schools for free. Of course, many good British and American international schools in Europe are private.
If they can choose to attend these schools, many children will have more opportunities to enter prestigious universities in the UK and the US for further studies after graduating from high school. Therefore, we encourage everyone to visit Greece for inspection, as examining both schools and school districts is very important.
6. Medical Conditions in Greece
The development of the medical system will also affect investors' choices. Greece's medical standards rank among the best in Europe and the world. Data shows that there is an average of one doctor for every 200 people. The residency permit obtained after purchasing property allows you to enjoy free public healthcare just like local citizens.
In addition, some people wish to obtain additional high-quality medical services, so they can purchase health insurance locally. In fact, it only costs a few hundred Euros per year, but serious illnesses, surgeries, and hospitalization costs are basically fully reimbursed. For those with high coverage, they can even enjoy protection throughout the European Union.
Surrounded by the sea, with warm sunshine and fresh air, the beautiful scenery of Greece may leave you with unforgettable memories for a lifetime. However, for investment, what everyone pursues is merely obtaining residency while ensuring the preservation and appreciation of assets.
