Topic: Greece

Buying Property in Athens

Buying Property in Athens – things to know about investing in the capital

The unique metropolitan lifestyle and the proximity to many Greek islands makes Athens an appealing option for local and foreign property buyers.

Buying property in Athens has never been more enticing.

It’s a city blessed by the gods with its crystal blue coastline, magical sunsets and mountainous landscape.

Greece has traditionally been a nation of home owners who proudly pass-on their properties to their children.

The resent economic crisis forces many to sell properties they can’t maintain.

With low residential prices and high yielding short-term rental income, investment from overseas buyers have surged in recent years, allowing many to make true their dream of owning a summer holiday house in Greece.

Why Athens and why now?

Athens offers an easy lifestyle against the backdrop of a buzzing and dynamic city that is steeped in history and legacy. The harsh economic climate has seen some positive change and exciting developments in food, art and culture, providing a much more rounded urban experience and making it one of the most exciting cities in Europe right now.

The sea and its southern coastline of Blue-Flag beaches are easily reached from the center, as are the many hills you can climb to admire its beautiful landscape from above.

Central Athens is built around the Acropolis.

 

The newly built Stavros Niarchos Foundation Cultural Center has been the most ambitious cultural and architectural project to date. The €617 million development by the prominent Greek shipping family was the largest donation made to the city so far.

Many central suburbs are in the midst of a reboot too, as gentrification takes hold in various pockets around town. The southern coastal districts from Piraeus to Vouliagmeni will get a boost thanks to recent plans to transform the major shipping and passenger terminal of the Port of Piraeus and its surrounding area. Plans are also in place to finally resurrect the former Athens airport near Glyfada, into a modern hub of residences, retail and leisure facilities.

The urban sprawl of Athens

Be prepared and do your homework

It goes without saying that you should find a reputable team of professionals to guide you through the purchasing process. You’ll need a Lawyer to protect your rights and a notary to transfer the property to your name.

When purchasing existing property, it’s also wise to have an engineer conduct an independent inspection to make sure your property is structurally sound and complies with relevant laws and regulations.

Property transfer Fees

  • Buyers tax fee 3% .
  • Greek tax file number (equivalent to a social security number): no fee
  • Real Estate Agency fees are usually between 2-2.5 % of the final purchase price.
  • Notary and Lawyer fees can be a fixed fee but no more than 1% each on the contract value.
  • All above are subject to 24%  VAT/GST.

 

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An expert’s advice

Property consultant, George Sagirakis from National Real Estate has assisted many overseas buyers through the paperwork and overcoming language barriers to purchasing Real Estate in Athens and all around Greece.

We asked George to get his expertise and experience on buying property and Visa in Greece.

Q: George, as a property consultant, how can you assist overseas buyers wanting to invest in property and in obtaining the Golden Visa?

A: We usually come in when the client needs help to find a property or has decided on buying a property or has narrowed down options of properties they are interested in.

We all know that buying a property, either as an investment or to leave in, is going to be one of the most careful decisions we make and you should not throw good money away on an emotional decision or a decision made by ignorance.

Buying good property means  to gather  as much information as possible in advance, in order to make an educated decision and make sure that you get Value for Money.

Q: Where do people commonly find properties advertised for sale in Athens?

A: The most common methods are through Real Estate Agents or privately advertised properties. Walk-by signage is also great idea providing you have available time. We advice potential buyers to walk or drive around neighborhoods at different times of the day.

Athens, a city of rooftop living.

Q: What is a realistic time frame for someone from overseas coming to Athens to buy a place? Do they need to be physically present the entire time?

A: The time required to view, inspect, negotiate and close a property is more or less the same as in any country.

Property Buyers may appoint a specialist Lawyer or a Real Estate Broker to do all is required. Overseas buyers don’t have to be physically present in Greece for the documentations.

Q: What are the usual steps to buy a property in Greece?

A: A deposit of 2-10 per cent (depending on the type of property and its value) is usually required. When an agreement has been reached, the seller should provide all  legal and technical documents required by the Law.

Signed contracts will be lodged to the local Registry Office in your name/s as well as at the Hellenic Cadastre Office.

 

Rrenovating

Property owners no longer have to obtain a permit for minor repairs or upgrades. In some cases when an apartment is located in a building of historical heritage, the process can become more complicated and restrictive. This is one more reason why it’s a good idea for buyers to  consider appointing an architect-engineer before purchasing property, as they can potentially help quantify in advance, the cost and time involved to renovate a place.

 

Renting a property

Short-term or holiday rental income must be declared as if one were renting to a long-term tenant. Owners must now declare the property, names of renters and the duration of the lease.

 

Monemvasia, Castle, Peloponisos, Greece, Waterfront, Heritage

George Sagirakis was born and raised in Greece. He moved to Australia where he lived and worked in the retail and construction industry for over 22 years. He is now based in Athens and is a licensed Realtor. His second office is in Limassol, Cyprus.

George provides consulting services for Real Estate and renovations matters in Greece and Cyprus. All property management services are handled by registered Attorneys and/or Accountants.

George is experienced in Real Estate marketing, buying/selling/rending  as well as renovating residential and commercial properties, as well as assisting with all property-related matters such as obtaining certificates and permits.

You can contact George directly via this website.

DISCLAIMER: The information provided is general and should therefore NOT be considered as advice or consultation to act upon. Links to third-party websites do not constitute an endorsement or recommendation of products and services.

George Sagirakis

ENTERPRICE GREECE

https://www.enterprisegreece.gov.gr/en/greece-today/living-in-greece/residence-permits#top


Ενεργειακά χρώματα για ενίσχυση της θερμομόνωσης κτηρίων

του Δημήτρη Διαμαντίδη.

Η ενεργειακή αναβάθμιση έχει λάβει πολλές διαφορετικές μορφές και η σύγχρονη τεχνολογία επιτρέπει πλέον να ενσωματώνουν θερμομονωτικά χαρακτηριστικά ακόμη και τα προϊόντα βαφής.

Τα ενεργειακά χρώματα διαφέρουν από τα κοινά χρώματα βαφής τοιχοποιίας λόγω των μοναδικών χαρακτηριστικών τους, χάρη στα οποία εξασφαλίζουν θερμομόνωση (μειώνουν τις επιφανειακές θερμοκρασίες και κατ’ επέκταση και τις εσωτερικές θερμοκρασίες του χώρου) και στεγανότητα (δημιουργούν μια αδιαπέραστη στην υγρασία ελαστική μεμβράνη).

Αυτά ακριβώς τα χαρακτηριστικά τα αποκτούν μέσω της πρωτοποριακής τους σύνθεσης με τη χρήση νέων καινοτόμων υλικών, τα οποία επιβεβαιώνονται μέσω εργαστηριακής πιστοποίησης.

Συγκεκριμένα, τα ενεργειακά χρώματα έχουν υψηλή ανακλαστικότητα στην ηλιακή ακτινοβολία, υψηλό συντελεστή εκπομπής στην υπέρυθρη ακτινοβολία, χαμηλό συντελεστή θερμικής διάχυσης και υψηλή ειδική θερμοχωρητικότητα, στοιχεία που συμβάλουν στην εξοικονόμηση ενέργειας στα ακίνητα όπου και εφαρμόζονται.

Τα θερμομονωτικά ή ενεργειακά χρώματα έχουν αναπτυχθεί με τη χρήση της νανοτεχνολογίας, η οποία έχει ως σκοπό τη δημιουργία σωματιδίων ύλης με πολύ μικρό μέγεθος. Στην περίπτωση των ενεργειακών χρωμάτων τοποθετούνται στο χρώμα, κεραμικά/υαλικά σωματίδια το εσωτερικό των οποίων περιέχει αέρα και είναι πολύ μικρής διαμέτρου. Η ύπαρξη των σωματιδίων αυξάνει κατά πολύ την αντανακλαστικότητα της βαμμένης επιφάνειας.

Ένα ακόμα πολύ σημαντικό χαρακτηριστικό είναι ότι το κενό αέρος στο εσωτερικό των σωματιδίων δημιουργεί θερμομόνωση υψηλής αποδοτικότητας αντίστοιχη με αυτή που παρέχουν για παράδειγμα τα διπλά τζάμια και συρρικνώνεται το φαινόμενο συγκέντρωσης υγρασίας στους τοίχους.

Είναι προφανές βέβαια πως τα ενεργειακά χρώματα δεν μπορούν να επιφέρουν αντίστοιχα αποτελέσματα με αυτά της εσωτερικής ή εξωτερικής θερμομόνωσης.

Ωστόσο, με τη βοήθεια των συγκεκριμένων προϊόντων επιτυγχάνεται σημαντική εξοικονόμηση ενέργειας για ψύξη το καλοκαίρι και θέρμανση το χειμώνα.

Μάλιστα, εκτιμάται πως το ποσοστό εξοικονόμησης ενέργειας μπορεί να ανέλθει έως και στο 20%.

Το επιπλέον κόστος των ενεργειακών βαφών δεν είναι αποτρεπτικό για την εφαρμογή τους σε σχέση με τις συμβατικές, καθώς έχουν μοναδικά πλεονεκτήματα.

Έτσι, ένα καλής ποιότητας ενεργειακό χρώμα κοστίζει περίπου 15-25% περισσότερο από ένα αντίστοιχης ποιότητας κοινό χρώμα.

Να σημειωθεί τέλος πως τα ενεργειακά χρώματα είναι συνήθως λευκά ή έχουν πολύ ανοιχτές αποχρώσεις, σε αντίθεση με τα σκούρα χρώματα που δεν μπορούν να πετύχουν τους επιθυμητούς δείκτες για να χαρακτηριστούν ως «ενεργειακά».


Renovate for the Elder

The majority of older adults wish to remain in their own homes as they age. Making modifications to your home can promote independence and prevent accidents. Home modifications are changes made to adapt living spaces to meet the needs of people with physical limitations. Modifications can be rather minor like adding grab bars and lever door handles, or major improvements like adding a ramps.

Bathroom Renovation Tips for a More Convenient and Safe Bathroom Usage for Elders

You may want to consider renovating certain facilities and structure in your bathroom to make it more convenient for the elderly living in your home. Not only is this comfortable for the elders, but also to anyone who is responsible in taking care of the elderly. Check out these bathroom renovation tips below to get you started.

  1. Turn your showers curblessBathroom Renovation Tips for a More Convenient and Safe Bathroom Usage for Elders

Shower areas usually have a curb to avoid water from seeping to the whole bathroom. However, transitioning elders (who are in a wheelchair) to a curbed shower is difficult. Not to mention the possible accidents that you can encounter while transporting the elderly to the shower area. Furthermore, a curbless shower is easier to clean than a shower enclosure.

Curbless showers are imperfect and it has one main disadvantage you should know: it causes water to spread out the bathroom. Fortunately there are solutions for this problem. First, you have the option of installing a pivoting shower screen to act as a barrier between the shower area and the other parts of the bathroom. Second, you can install a rain head. The function of the rain head is to force water into a single concentrated spot (specifically the drain area).

  1. Improve lighting

Bathroom Renovation Tips for a More Convenient and Safe Bathroom Usage for Elders

Elders are most likely to have impaired vision so you need to ensure the bathroom is properly lit. Use LED lights with high watts to illuminate the bathroom well. We also suggest installing a high quality nightlight in case the elderly have to use the bathroom during night-time. Installing nightlights along the hallway leading to the bathroom is also a good idea.

3. Bathroom should be on the same floor as to where the elder sleeps

Going to the bathroom shouldn’t be a struggle for seniors; which is why the bathroom should be on the same floor as where the elders sleep or stay for a long time. If creating a new bathroom is too difficult or expensive; then you should set up a chair lift to make it easier for seniors to travel between floors.

  1. space for more maneuverability
    Bathroom Renovation Tips for a More Convenient and Safe Bathroom Usage for Elders

Bathrooms that are too packed can become a trouble for seniors who have to use a wheelchair. In fact, they might not even get their wheelchair through the bathroom due to the limited space. For those of you who plan on renovating their bathroom; you should consider creating additional space for easier wheelchair movement.