"A villa, apartment, or townhouse in Southern Europe may look affordable compared with prime London property, but the asking price is not the full cost of ownership. In Greece, buyers should usually allow around 7-10% of the property price for transaction costs, depending on the deal. The main cost is the property transfer tax. Greece's tax authority states that the standard real estate transfer tax is 3% of the taxable value, plus a small municipal levy."
"These costs reduce the real return and can turn a strong gross yield into a modest net yield. Buyers should also budget for notary fees, legal fees, registration, agency fees, insurance, maintenance, repairs and local management. The key figure is income after tax, cleaning, repairs, platform fees, utilities and management. Forecasts should include quiet months as well as peak season, as net yield may be much lower tha"
"Investors should check whether short-term rentals are allowed, whether a licence is needed, and whether rules are changing. A rental property may perform very differently if restrictions tighten or tourist-let taxes rise. In many popular markets, gross residential rental yields often sit around 4-6%, though they vary by country, city, property type and location. Rental income depends on local rules."
"Buying in Southern Europe is not the same as buying a second home in the UK. Before committing capital, investors need to understand the full cost, rental rules, legal checks, currency risk, and residence requirements. Immigrant Invest explains why investors considering Greece should assess property costs and residence requirements together."
Southern Europe attracts British investors seeking lifestyle value and access to holiday markets, and for HNWIs it can function as more than a vacation purchase. Buying abroad differs from purchasing a second home in the UK, requiring assessment of total costs, rental rules, legal checks, currency risk, and residence requirements. In Greece, headline prices can be misleading because buyers should plan for transaction costs of about 7–10% of the property price, including transfer tax and additional fees such as notary, legal, registration, agency, insurance, maintenance, repairs, and local management. Rental performance depends on local regulations, including whether short-term rentals are permitted and whether licenses or taxes apply, with net yield determined after all operating costs and quiet months.
Read at London Business News | Londonlovesbusiness.com
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