A timeless destination, full of history and charm, the beautiful Peloponnese is a sight for sore eyes; with its stunning coastline and imposing castles, its picturesque villages and their rich history, the famous Greek peninsula is the ultimate place to live for those who seek a place where the old and the modern join forces to enchant its residents. And who wouldn’t want to be a resident of the Peloponnese? Destinations of authentic natural beauty, each with their own distinctive characteristics, stand eager to welcome you all year long: Messinia, Elafonisos, Monemvasia, Mani, Porto Heli, Kalavryta and Nafplio. It’s the land of Ancient Sparta, home of the holy olive grove and the birthplace of the Olympic Games. War, peace and culture saturate the cities and countryside of one of the most beautiful destinations of mainland Greece.
Worth knowing about Peloponnese
The Peloponnese reaches out to the Greek sea with its hand-like shape that is spread across 21,549.6 km2 and is home to approximately 1,155,000 residents. Its ideal density of about 54/km2 makes sure that you get all the privacy you need while not being deprived by the beautiful warmth of a neighbor’s company.
Elis and Messenia stand out as the most popular areas, with approximately 198,700 and 180,264 inhabitants each, while the least inhabited areas seem to be Arcadia (100,611) and Laconia (100,871). In its eight regional units, it has more than 20 archeological sites, one main airport (and one military) and six main hospitals, making sure that this historic island remains up to date with the modern standards.
How is the Real Estate Market in Peloponnese?
The Peloponnese is the ideal place to buy a property for those who love Greece and want to strike a good deal while pursuing the home of their dreams! With prices that are approximately 10-15% cheaper in comparison to the rest of the islands, it’s a crime not to consider it among one’s options!
During the last few years, prices have been on a free fall, meaning that the percentage mentioned above could become even higher in the foreseeable future. The island especially draws the interest of German, Canadian and Australian buyers who seem to have found the home of their dreams in the heart of the famous peninsula.
What types of properties can be found in Peloponnese?
One of Peloponnese’s strongest points is the fact that is offers an architectural diversity that can appeal to all the tastes, while maintaining a distinct personal character that sets it apart from all the other destinations.
- Beautiful villas in Peloponnese on top of hills that gaze across the Greek seas
- Stone-built houses for admirers of the classic style
- Modern apartments that give the big city apartments a run for their money
Only a few of the choices that the buyers has at their disposal when deciding on a property to house their dream life. After all, the Peloponnese is home to one of the most famous samples of modern Greek architecture, which is none other than the Villa Ypsilon.
What are the advantages of buying a property in Peloponnese?
The advantages of choosing a Greek property to spend the rest of your life in or your most memorable vacation are so many, that it’s becoming harder and harder to list them all. Peloponnese is definitely making mother Greece proud, carrying on its legacy throughout the years. How do you feel about dramatic cliffs and mountains? Golden sea waters and secluded beaches? Ancient monuments and breathtaking natural sceneries? That’s right, all these things can be found in the very same place, the Peloponnese!
And while a lot can be said about the natural beauty or the rich history of the area, one cannot ignore its modern present as well; from lounge beach bars to tireless clubs, atmospheric taverns and classy restaurants, there is something to satisfy everyone and every mood. The world-famous Patras’ Carnival is only a small glimpse in the tireless spirit of the Peloponnesian people, who know how to have a good time and enjoy the calmness of the beautiful nature that surrounds them at the same time.
For the purchase of real estate property, the following are required:
- a valid passport
- a Greek tax identification number (AFM*)
- a certificate from the responsible tax office about the payment of the land transfer tax
What are the Costs and Taxes on Property Purchase?
The purchase costs & taxes for the purchase of property in Greece, are the following:
- Land register costs, imposed for the registration of the property at the land registry or cadaster office, amount to 1,0% of the fair value.
- Other costs such as the legal review of ownership (of at least around € 150) must also be considered.
- Real estate property transfer tax, which arises with the acquisition of real estate property or the acquisition of real rights upon property and is paid in principle by the buyer, before the notarial certification of the real estate property purchase. The current rate of land transfer tax is 3.09% of the purchase price.
- Notarization costs or notarial costs, always borne by the buyer, unless there is a different regulation. The basis of assessment used is the purchase price or the so-called unit value. Always apply the higher value. The certification costs are on average 1,5% plus VAT 24% of the underlying value.
More information about properties in Greece here.
