What Taxes/Expenses are involved in property purchase in Crete?
The total expenses are usually around 12% of the purchase price of the property; this covers your lawyer’s fees and purchase taxes, which in Greece are a one-off payment. Any variation is dependent on the Tax Office assessment of the property for purchase tax purposes (normally substantially less than the purchase price). These expenses are in addition to the property price. (The Tax Assessed Value is the estimated monetary value of a property according to Greek tax authorities. As a general rule, a property’s tax value is significantly lower than its purchase price.