Building a property in Greece

Follow your dreams. Tips and wise words from Mary!

by Mary Price | March 2019

So the holiday was beyond your wildest dreams? Great, why not buy your own property in that paradise and live the dream? It's what so many of us do but before you jump into the unknown of another nation's laws, rules and taxes here are a few suggestions to think about. 30 years ago we built a house on a Greek island and we have never regretted it and we learnt much.

Before you find your dream property or plot find a lawyer you can trust. The best are those who have international experience.

Just because it's Greece, Bulgaria, Thailand or the furthest reaches of planet doesn't mean there are no rules, there are and its best to know them all up front.

If you plan to build be forensic about understanding local planning regulations and whatever anyone tells you about ignoring them, don't. Any transgression will come back to haunt you and cost you a lot of money.

Remember , you get what you pay for so don't expect a palace if you pay for a shack.

If you build, be there, absence hides economy of quality.

Seek out a good accountant. You are going to have to pay taxes like the locals. If you don't, expect a fine.

If you think you are going to make money by renting or airbnb, think again, local tax systems have their own ways of monitoring businesses and filling their coffers.

Now it's time for fun. Learn the local language, no matter how ropey you are, it shows willing and people are very forgiving.

Enjoy the richness of gathering friends and neighbours of many tongues and nations around your table. To date our record is nine.

Ignore BREXIT, you are now in a new country with its own rules. Have fun and you will be enriched beyond your wildest dreams.

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