Corfu is proudly known as “The Emerald Isle” and as soon as you get to Corfu you will understand why… a natural beauty will envelope you as you step onto the shores of Corfu and the beaches with their golden sands and shimmering blue seas will have you pinching yourself to see if you are dreaming or not. The wild beauty that is Corfu can entice anyone in no time to choose it as the place of their dream home. Sapphire-like waters in seductive beaches, lush green hills to noble mansions and from idyllic Corfu beaches, to interesting museums, raw natural beauty, majestic architecture and all of that in the heart of the Ionian Sea: it's pretty hard not to fall in love at first sight.
Worth knowing about Corfu
Corfu is spread across 610.9 km2, which is more than enough to tο unwrap all of its beauty. Just ask the approximately 114,000 residents of the island, who are occupying the area with a density of 170 km2.
With a very busy central airport, more than 50 beaches, 20 museums, a 17,000 km2 central hospital and 4 more hospitals and clinics, Corfu is a place where you feel safe, well-served and in the midst of culture. Corfu town or Kérkyra in Greek is the principal town of Corfu Island. Surrounded by the sea and closed between two Venetian fortresses the Old Town of Corfu is one of the most charming and romantic places of all modern Greece. It is no coincidence that since 2007 the Old Town of Corfu has been officially inscribed in the World Heritage List of the UNESCO. Approximately 6,000 permanent residents are northern European citizens, mostly UK nationals, and according to estimations another 3,000 non-Greek nationals have selected Corfu for their second homes.
How is the Real Estate Market in Corfu?
Corfu is - expectably - a top destination to buy a property. Its beauty, in combination with its approachable prices, make it an absolute catch, since you will feel that your money was well spent from day one. It’s safe to say that Corfu is competing head on with destinations such as Sardinia or even France and the Europeans wholeheartedly support this, since their interest in the real estate market of Corfu has been steadily rising during the past few years, with no signs of stopping.
What types of properties can be found in Corfu?
Corfu is the place that has accommodated the famous Empress Sisi, so it’s a no-brainer understanding that the property and plots of Corfu can satisfy even the most exceptional tastes. Properties for sale in Corfu:
- Luxurious villas that gaze at the Ionian Sea
- Picturesque mansions that seem like they have escaped from some medieval fairytale
- Modern apartments
Corfu’s multicultural influences are highly reflected in its refined architecture that has earned the island’s main town a place among the most impressive European cities.
What are the advantages of buying a property in Corfu?
Living in Corfu is a one of a kind experience, since the island is a highly cultural point that offers natural beauty and a variety of activities at the same time. Thanks to that natural beauty and its magnificent aura, history and structure, it has also been a top filming destination, with the most recent example being the hit television series “The Durrells”. The series popularity has attracted even more travelers and hopeful new residents. Apart from its photogenic attractions and historic sights, Corfu has to offer a variety of gastronomic pleasures, a rich collection of customs and traditions and a variety of nightlife options or even outdoor activities.
Wonderful climate, long sandy beaches with crystal clear waters, open-minded and friendly people, good quality of life and low cost of living along with the stability of purchasing or investing in a market that belongs to and is protected by the European Union, Corfu, can offer you everything you would wish for!
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.
