Frequently Asked Questions

Exciting news! At Sappho Estate, we specialize in assisting international buyers like you. Here’s what you need to know:

1. Non-EU Citizens and CAA Permission: As a non-EU citizen, certain areas may require permission from the Council of Alien Real Estate (CAA) before buying property. Don’t worry, our team will guide you through this simple process.
2. Requirements and Restrictions: Our agents will help you understand any specific requirements or restrictions that may affect your purchase. We want you to have all the information you need to make informed decisions.
3. Consultation with a Lawyer: We’ll connect you with a knowledgeable lawyer who specializes in Greek property laws. They’ll provide expert advice and ensure all legal requirements are met.

Rest assured, our goal is to make the process smooth and enjoyable for you. We’ll navigate any regulations and provide the support you need to make your dream of owning property on Lesvos a reality. Let’s get started!

Considering buying a property on Lesvos or any Greek island? Don’t worry, we’ve got you covered! Here’s a simplified outline of the buying process:

1. Find a Property: Explore properties that match your preferences and budget.

2. Property Viewing: Schedule viewings to see the properties in person.

3. Hire a Lawyer: Engage a reputable lawyer experienced in Greek property law.

4. Conduct Due Diligence: Your lawyer will verify legal status, boundaries, and obtain necessary permits.

5. Negotiate Terms and Price: Work with your lawyer to reach an agreement.

6. Sign a Preliminary Agreement: Sign an agreement outlining key details.

7. Property Valuation: Get a certified valuer to assess the property’s value.

8. Secure Financing: Explore financing options or secure a mortgage from a local bank.

9. Finalize the Sale: Complete necessary checks, approvals, and sign the deed of sale.

10. Transfer of Ownership: Register the property with the local land registry.

At Sappho Estate, our friendly team will guide you through the process, working closely with your lawyer to ensure a smooth and stress-free experience. Let’s make your dream property a reality!

When buying property in Greece, including Lesvos, here are the key steps to remember:

1. Obtain a Greek Tax Number and Open a Bank Account: We’ll help you get these essentials for property transactions.

2. Conduct Due Diligence: We’ll assist with a thorough verification process to ensure a trouble-free purchase.

3. Sign a Preliminary Agreement: Secure the property by signing a preliminary agreement and providing a deposit.

4. Engage a Lawyer: Our recommended lawyer will handle legal aspects, including title search and contract drafting.

5. Obtain a Property Transfer Certificate (PTC): We’ll assist you in obtaining this important confirmation document.

6. Complete Payment and Pay Fees: Make the final payment, including taxes, notary, and legal fees.

7. Register the Property Transfer: We’ll guide you through registering the transfer with the local land registry.

Please note that specific steps may vary. At Sappho Estate, our agents make the process clear and manageable. We’ll arrange a consultation with a knowledgeable lawyer to address concerns and ensure a smooth transaction. Rest assured, we’re committed to your successful property purchase on Lesvos!

When purchasing property on Lesvos or any Greek island, it’s essential to consider the associated costs. Here’s a breakdown to keep in mind:

1. Property Purchase Price: This is the negotiated cost of the property itself.

2. Transfer Taxes: As the buyer, you’re responsible for transfer taxes, around 3-3.09% of the assessed value.

3. Notary Fees: These cover preparation and execution of property transfer documents, determined by the property’s value.

4. Legal Fees: Engaging a lawyer for legal aspects incurs professional fees, which vary based on complexity and rates.

5. Property Survey and Evaluation: It’s advisable to assess property condition and value through a survey or evaluation, with cost depending on size and complexity.

6. Additional Expenses: Administrative fees, translation fees, and permits or certificates may be required.

7. Sappho Estate Fees: If you choose our services, we charge a commission fee of 2% of the property purchase price. Negotiation between the seller and Sappho Estate is possible.

Remember to factor these costs into your budget when planning to buy property on Lesvos or any Greek island. Consult with Sappho Estate for accurate estimates and understanding of your unique situation.

When buying property on Lesvos or any Greek island, it’s crucial to consider ongoing expenses and property taxes. Here’s what you need to know:

1. Property Tax (ENFIA): This annual tax is calculated based on factors like property size, location, and value. It varies and may be updated by the Greek government.

2. Local Taxes: Municipalities may impose additional taxes such as waste collection fees.

3. Utilities: Budget for electricity, water, gas, or heating expenses based on property features and usage.

4. Maintenance and Repairs: Set aside funds for regular upkeep like painting, plumbing, and electrical work.

5. Homeowners Association Fees: Shared amenities or services in a condominium or development may incur fees.

6. Insurance: Protect your property with insurance against fire, natural disasters, or theft.

7. Property Management Fees: Sappho Estate offers property management services, including tenant screening and maintenance, with negotiable fees.

Consider these ongoing expenses when budgeting for your property purchase. Sappho Estate is here to provide advice on costs and fees specific to your situation. Let us ensure a smooth and enjoyable property journey for you!

Here are some factors to consider when choosing the perfect location to buy a property on Lesvos or any Greek island:

1. Proximity to Amenities: Consider how close the property is to essential amenities like supermarkets, medical facilities, schools, and transportation hubs. Make sure you have easy access to the services you need based on your lifestyle preferences.

2. Access to Beaches and Natural Beauty: If you love the beautiful coastline and natural scenery of Lesvos, prioritize properties near the beach or with easy access to scenic attractions. Embracing a beach lifestyle and enjoying stunning views can be an amazing experience.

3. Infrastructure and Transportation: Check the availability and quality of infrastructure in the area, including roads, public transportation options, and connections to airports or ferry ports. Good transportation links can enhance convenience and accessibility.

4. Local Services and Entertainment: Consider the availability of restaurants, cafes, shops, and entertainment options nearby. Depending on your preferences, you may want an area with a vibrant local scene or a peaceful environment.

5. Future Development Plans: Research any upcoming development plans or infrastructure projects in the area. Understanding potential changes can help you evaluate the long-term value of the property you’re considering.

6. Safety and Security: Look into the safety and security of the neighborhood or region where the property is located. Check for low crime rates, adequate lighting, security systems, and a community that prioritizes safety.

7. Local Regulations and Restrictions: Be aware of any local regulations, building restrictions, or zoning laws that may impact your property. Ensure your intended use aligns with the rules in place.

Visiting different areas on Lesvos will give you a firsthand feel for each location’s suitability to your preferences. The agents at Sappho Estate are here to provide valuable insights and guidance to help you select the perfect location for your property purchase. We’re dedicated to assisting you every step of the way!

When renovating or building on Lesvos or any Greek island, it’s important to understand the specific regulations and procedures involved. Here are some key factors to consider:

1. Building Permits: Familiarize yourself with the requirements for obtaining building permits in your desired location. Each municipality may have its own regulations and procedures for construction or renovation projects.

2. Architectural Design: Work with a local architect who knows the building practices and regulations. They’ll help you design plans that comply with local guidelines while reflecting your preferences and needs.

3. Preservation and Conservation: Check if your property is located in a protected or heritage area. Lesvos, like other Greek islands, may have areas of historical or cultural significance that restrict certain renovations or changes.

4. Construction Professionals: Find qualified local contractors, engineers, and builders experienced in working on Lesvos. They’ll be familiar with local construction techniques and regulations, ensuring a smooth and compliant process.

5. Environmental Considerations: Be mindful of environmental regulations, especially if your property is near sensitive areas. Ensure your construction plans align with sustainable and eco-friendly practices.

6. Utility Connections: Confirm the availability and feasibility of connecting to essential utilities like water, electricity, and sewage systems. Depending on the property type, you may need to consider options such as wells, septic tanks, or alternative energy sources.

7. Renovation vs. New Construction: Assess whether renovating an existing property or building from scratch suits your needs better. Renovations may have restrictions and require additional approvals, while new construction offers more flexibility but different considerations.

The agents at Sappho Estate can arrange consultations with local authorities, architects, and construction professionals to assist you. They’ll help you understand the regulations, processes, and costs involved in renovating or building on Lesvos. With their expertise, you’ll navigate the requirements successfully and ensure a compliant and successful project.

As a foreign buyer, you’ll be glad to know that it’s possible to obtain a mortgage or financing when purchasing a property on Lesvos. Here are some key points to consider:

1. Local Banks: Get in touch with local Greek banks to explore the mortgage options available to non-Greek citizens. Some banks may have specific mortgage programs designed for foreign buyers like yourself.

2. Eligibility Criteria: Familiarise yourself with the eligibility criteria for obtaining a mortgage as a foreign buyer. This may include factors such as your income, credit history, and the value of the property you intend to purchase.

3. Down Payment: Determine the required down payment for the mortgage. The percentage can vary depending on the bank and the specific terms of the loan. Knowing this upfront will help you plan your finances accordingly.

4. Interest Rates and Terms: Have a discussion with the bank about the interest rates, repayment terms, and duration of the loan. It’s beneficial to compare offers from different banks to find the mortgage that best suits your needs.

5. Collateral and Documentation: Be prepared to provide collateral, such as the property itself or other assets, as security for the mortgage. Additionally, you’ll need to provide relevant documentation, including proof of income and identification.

6. Legal and Financial Advice: Seek guidance from professionals experienced in Greek real estate and mortgage matters. They can offer you valuable legal and financial advice, ensuring that you navigate the process smoothly, comply with regulations, and make well-informed decisions.

It’s important to keep in mind that mortgage availability, terms, and conditions can vary between banks and may be subject to change. The agents at Sappho Estate can assist you in researching and comparing different options, and finding the best mortgage solution that aligns with your individual circumstances and requirements.

Curious about property prices on Lesvos? Let’s break it down for you! Here are some key factors to consider:

1. Location: The location of a property is a big deal. Desirable areas with breathtaking views, beach access, or close proximity to amenities often come with a higher price tag.

2. Property Type and Size: Size matters! Larger properties and those with extra features like pools, gardens, or parking spaces generally come with a heftier price. Think about your needs and preferences.

3. Demand and Market Trends: The market has a say too! When demand is high and supply is limited, prices tend to go up. Keep an eye on market trends, economic factors, and tourism patterns to get a sense of the bigger picture.

4. Condition and Age: The condition and age of a property affect its price too. New or recently renovated properties in great shape typically come with a higher price than older or poorly maintained ones.

5. Infrastructure and Development: Infrastructure matters! Easy access to good roads, transportation, utilities, schools, hospitals, and shopping centers can bump up property values.

6. Legal and Regulatory Environment: Keep an eye on the legal side. Property taxes, building restrictions, and zoning regulations can influence prices. Look for favorable regulations and incentives that may work in your favor.

7. Economic Factors: The economy plays a role too. Inflation, interest rates, and employment rates can impact property prices. A stable and growing local economy often translates to higher property values.

8. Seasonality and Tourism: Lesvos sees seasonal fluctuations. Property prices may vary depending on tourism demand and the popularity of vacation rentals. If rental potential is important to you, consider the seasonal patterns.

It’s crucial to do your homework and dive into market research. Don’t worry, our team at Sappho Estate is here to help! We’ll guide you through the dynamics of the local real estate market, so you can make well-informed decisions about your property purchases or investments.