These are the key steps to buying Greek property from the UK and strategies to save on international money transfers.
Does the idea of owning a serene property in Greece as a UK resident appeal to you? Whether it's a beachfront villa, a retirement retreat, or a permanent residence, purchasing property in Greece from the UK can be a rewarding and profitable venture. However, understanding the buying process and managing international money transfers can be challenging. In this blog post, we'll guide you through the essential steps of buying Greek property and illustrate how to save on GBP to EUR international money transfers to boost your investment.
The first step in purchasing property in Greece is to identify the location and type of property that aligns with your dreams and lifestyle. Popular areas include the islands of Santorini and Crete, the historic city of Athens, and the beautiful Halkidiki region. It's crucial to familiarise yourself with Greek property law and engage the services of a Greek lawyer to manage the legal aspects of the transaction.
Your Greek property purchase can be financed using a UK mortgage, a Greek mortgage, or cash. UK banks typically require a larger deposit and may have less favourable terms than Greek banks. To save on international money transfers, consider using a currency exchange specialist. These specialists often offer competitive exchange rates, helping you save on your GBP to EUR transfers.
The Greek property buying process generally involves three main steps:
When buying property in Greece, you will need to pay various taxes and fees, including:
a. Transfer Tax: Paid by the buyer, this tax is usually between 3% and 10% of the property's purchase price.
b. Notary fees: These fees typically range from 1% to 2% of the property's value.
c. Land Registry fees: These fees usually amount to approximately 0.475% of the property's value.
To ensure you're getting the best value on your international money transfers, consider the following tips:
Purchasing property in Greece from the UK is an exciting and potentially advantageous endeavour. By understanding the property buying process and utilising currency exchange specialists for your international money transfers, you can optimise the value of your investment and realise your dream of owning a Greek property. With attentive planning and an eye for detail, you'll soon be experiencing all that Greece has to offer. Take the first step towards your Greek property journey today and open the door to a world of possibilities.
Sign up to our daily market reports to get the latest news and insights on worldwide currency movements straight to your inbox every morning.
Enter your email address below to subscribe.
