What is the cost of taxes and legal fees (closing fees) for a property purchase?
The one time purchase tax is calculated from the state assessed property value. It is 7% for values up to 15,000 Euro and 9% for values greater that 15,000 Euros.In Limenas Town it is 9% and 11% respectively. In other parts of Greece the charge is 11% for values up to 15,000 Euro and 13% for values greater that 15,000 Euros. The Notary Public fee with the registration of the purchase is about 2.2%( it can be more in some cases)of the assessed property value. Lawyers charge is 1.1% or 1.2% of the assessed value as recorded on the contract of sale. The closing fees for a land purchase are the lowest. The tax is paid when the land is purchased and no further taxes are levied, nor are any legal fees incurred when the house is built.
