Source: RTS | Sunday, 07.08.2022.| 20:52
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Real estate cheaper on the Greek seaside than in Belgrade

Illustration (Photo: Gaida)
In fear of what might happen to the euro, our citizens who had savings rushed to buy real estate.

Houses and apartments have been bought throughout Serbia, but also abroad. In the last few months,Serbian citizens have made purchases in Trieste, Trebinje, and even bought 15,000 apartments in the Greek region of Chalkidiki- RTS reports.

The reason why citizens of Serbia, who wanted to invest their savings in real estate, have been buying apartments in northern Greece in the last few months, is because the price per square meter is lower than in Belgrade.

- The price of a square meter in Thessaloniki, the Olympic region, in Halkidiki ranges from EUR 700-800 EUR in the suburbs to EUR 1,800 in Chalkidiki proper - says Ivana Apostolou from Athens for RTS.

She states that our people are particularly attracted to the northern part of Greece, close to Thessaloniki, and the places where they traditionally spend their summer vacations.

- I guess they combine the beautiful with the useful - Apostolou says.

Who buys apartments in Greece

Buyers, she adds, are mostly families, and apartments are most often bought.

- It is important for them that the apartment in proximity to the sea or at least has a view of the sea - about 50 m2, that it has one room and one bedroom, one bathroom - she explained.

According to her, there are those who rent out, but research shows that our people most often buy real estate for themselves, and that they use it in the summer months and throughout the year.

According to reports, another reason for the purchase is that they plan to have their children study in Greece.

What is the procedure

The procedure, she says, is not much different for the foreign nationals buy real estate, but the difficulty is the language.

- Most of the documents are in Greek, they are not aware of the system, of the way to buy real estate here, everything is foreign to them - explains Ivana Apostolou.

That is why, as she says, agents and lawyers are hired.

- Lawyers are a very important in order to suggest what they should do, what to pay attention to, to help them through the documentation process, to advise them which of the accounts they should open here, where to register etc. - noted Apostolou.

She points out that, if good and proven lawyers and agents are hired, the purchase of real estate is not a complicated process.

How much is the tax?

The interviewee explains that the tax for purchase of real estate is 3%, and that the tax paid annually depends on several factors.

- Depending on where the property is located, what floor it is on and several other parameters - the tax amounts to EUR 3 to 7 per square meter. So it is not a big sum that you set aside annually. If you have an apartment of 50 m2, you would pay a tax of EUR 150 to 200 per year - she explains.

Regarding the economic problems and crises in Greece, she notes that Greece is a member of the European Union, which gives customers the confidence that they will not "go down the drain" if anything goes wrong.

- They can always sell. Real estate located near the sea always finds its buyer, so, as it seems to me, there is no fear that anything can happen and that money would disappear overnight - concludes the interviewee.
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