Selling a property in the sun-soaked landscapes of Greece while being based in the UK presents unique challenges and opportunities. This guide will clarify the process, from understanding Greek property laws to optimising your returns through efficient EUR to GBP international transfers.
The Greek property market has been a hotspot for investors due to its rich history, culture, and idyllic locations. While cities like Athens offer urban returns, islands like Santorini and Crete lure with their holiday rental potential. Knowing the market pulse can significantly influence your selling strategy.
First impressions matter:
Engaging a reputable local estate agent familiar with selling to foreign buyers can make a world of difference. They can advise on the right market price, promote your property to the right audience, and guide through the selling process.
a. Setting the price: Research recent property sales in your area or consult with your agent to set a competitive price.
b. Negotiating offers: Be prepared to negotiate, considering the current market climate and buyer interest.
c. Legal formalities: Engage a lawyer to ensure the sale abides by Greek property laws and that all paperwork is in order.
d. Closing the sale: Once all terms are agreed upon, a contract is signed, and the property's ownership is transferred.
Repatriating the funds from your property sale is crucial:
a. Consult a currency specialist: Equals Money can offer more competitive rates than traditional banks, which can make a notable difference in the amount you receive.
b. Benefit from forward contracts: With Equals Money, you can secure a favourable exchange rate for a future transfer date, safeguarding against currency market fluctuations. Although should the rate continue to move after the contract has been agreed, you’ll still receive the original agreed exchange rate, presenting a potential disadvantage in choosing a forward contract. However, many looking to sell property abroad find the stability offered by a forward contract outweighs this disadvantage.*
c. Stay updated: Monitor the EUR to GBP exchange rates and plan your transfers to capitalise on favourable rates.
Selling a property in Greece from the UK might seem daunting, but with the right knowledge and resources, it can be both profitable and smooth. By understanding the Greek property market and leveraging Equals Money's expertise in international money transfers, you increase the chances of receiving maximum returns on your investment. Whether it's a quaint villa or an urban apartment, make every Euro count as you bring your funds back to British shores.
*Equals Money can only offer forward contracts to facilitate payments for goods and services
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