Purchaser’s costs (excluding Real Estate Agents fee/commission)

I recommend you budget for a 10.0% - 12.5% ‘on cost’ relating to the proposed purchase - this should be a ‘worse case’ scenario.   

As with everything in Crete, fees and the like are negotiable, but the above percentage can be broadly summarised as follows:

Purchase (or Transfer) Tax

This is the equivalent to the UK’s ‘Stamp Duty’ and varies according to the value of the freehold investment (approx. 3%). The ‘Purchase Transfer Tax’ is not based on the purchase price, but, on the Objective Government Price (*OGP)

Purchase tax is payable by the purchaser (the ‘Buyer’) at a rate of between 9% and 13%, which is increased by as much as 2% if the property is in an area served by a Public Fire Protection Service.

Community/Municipal Tax

A percentage of the Property Transfer Tax paid to the local municipality for public services such as road maintenance (approx. 2.25%)

Notary Public fees

Payable at the time the final ‘Purchase Deed’ is signed (approx. 1.5% plus *FPA)

The Notary Public’s fees are payable by the purchaser (the ‘Buyer’).

Legal fees

Legal fees will depend on the extent of the services to be provided by the Lawyer (approx. 1.25% of the purchase price, plus *FPA)

Generally, each party is responsible for the payment of their individual Legal fees.

Land Registration/Public Mortgage Office fees

Land Registry (*Cadastre) fees are based on the assessed value, plus a small sum for Stamp Duty and Certificates (approx. 0.60%)

Other costs

Solicitors Bar of Hania (approx. 0.35%)

Fire Service Tax (approx. 0.30%)

Translation costs (approx. 0.25%)


*OGP (Objective Government Price)

The custom in Crete is to keep down the declared price of the property to reduce legal fees and property taxes.  Two distinct price categories have therefore evolved:

  • the declared price or Objective Government Price (OGP) and,
  • the Actual Buying Price (*ABP)

In larger towns and cities, the OGP is based on official valuation rates calculated according to location, quality, size, construction and amenities.

For rural properties, the OGP is assessed by the local tax office, based on tables issued by the Greek Ministry of Finance.

The OGP usually amounts to around 2/3rd of the ABP.