Greek Property Investment Advice – Buying a Building Plot

Greek Property Investment Advice – Buying a Building Plot

For many people, especially those with a low budget, buying a plot of land and self-building is one way of affording a dream home in the sun. In Greece, the whole process can appear to be a little daunting, but finding and employing the right professionals makes the task easy and relatively painless. The first, and most important stage, is to find a good lawyer, who will guide you through he legal niceties surrounding buying a good plot of land.

The Best Property Investment Advice – Let the Lawyer do the Work.

As is the case with buying any property in Greece, the lawyer will check the deeds and make sure that all of the owners of the land are willing to sign the documents. If any pre-contract is signed, they will ensure that clauses are built into the contract, refunding your deposit if here are any issues with the deeds.

The next stage is to research whether the plot is entitled to be built upon, another task for your legal professional. This is extremely important, because these laws constantly change, and vary wildly from municipality to municipality. Generally, in rural areas, the plot must measure at least 4000m² for permission to be granted, although this can be 5000m² in some of the islands. If the plot falls within a planning zone, or is adjacent to a municipal road, this requirement can drop to 2000m² or less. Within villages and cities, the required plot size is much less.

These variations show the importance of engaging a good lawyer to research local by-laws. Before handing over any money, make sure that you pay a couple of hundred euros for a full topographic survey. The seller may tell you that the plot measures 4000m2, only for you to find that it is only 3 999m², a problem if the planning department decides to be pedantic.

In some areas, if there is already an old dwelling upon the land, you should have no problem in receiving permission. Planners tend to allocate a certain sized ‘footprint’ to a plot, and they will not count an uninhabitable ruin against this. If there was a 150m² building pre-existing on the plot, you should be able to build one of the same size, with little difficulty.

The Land Registry

Greece has recently started updating its land registry, in an attempt to move into the 21^st century. Many rural areas are now classed as lying within a forest zone, and cannot be built upon for any purpose. If you do not get clearance from the Forestry Department, any building work is automatically illegal and they could ask you to knock it down, at your own expense.

The Archaeological Survey

In many areas, the Greek Archaeological Department will investigate the plot; if they find any evidence that your plot is of historic importance, then your plan could be ‘on hold’ for many years. It really is best to wait until this survey is complete before handing over any money, or at least ensure that you can back out of the contract with your deposit returned.

Finally – The Necessities

If you are out in the sticks, remember that you may want water, electricity and a phone line. If there is no electricity supply nearby, you will have to rely on an expensive generator. If there is no water supply, then life is impossible. Ask your lawyer to check this out for you, and find out how much it would cost for you to be connected.

This all sounds a little daunting, but the process is easy if you employ the right professionals. A good lawyer is your best friend, so make sure that you only employ the best, by asking other ex-pats in the area.