Legalities, Taxes, Purchasing procedure and Property financing
Legalities :
Adults over 18 years old with their passport document can purchase property
Taxes :
23% VAT on the Value of the property
Notary and solicitors fees 2.5% to 3% on the property Value (% fees varies according to value)
Purchasing procedure steps:
- Selection and reservation of property. A nominal deposit of € 2,000 is required to reserve a property.
- Signing of property transfer contract at Notary office.
- Setting up utility accounts for electricity, water, sewer and municipality services.
- Purchasing legalities are straightforward and safeguard the purchaser’s rights.
- All contracts of sale are translated in English or the buyers reguired language.
- Time frame of the procedure : from the date of deposit paid to final utilities connections is 15 to 20 days.
Our experienced team will assist and co-ordinate the entire process.
Communal Expenses – Property Running Costs
Electricity set up account/connection cost : € 750.00
Annual service charge : € 150.00
Monthly bill : according to consumption
Water set up account/connection cost : €450.00
Annual service charge : € 50.00
Monthly bill : according to consumption
Sewer set up account: € 450.00
Annual service charge : € 80.00
Municipal Annual Property tax according to the size of the apartment.
Indicative price for a 50m2 appartement = € 250.00
Government Annual Property tax: € 300.00
Telephone: Monthly standing charge for landline approximately € 15.00.
Call charges vary according to operators. Some operators offer plans with free calls abroad.
Contents Insurance: Annual premiums start from € 50.00
Cable / Satellite TV: Subscription packages are available from € 20.00 per month
Our management team will inform you in advance and will take care of all above bills.
Property Financing
Our financing scheme enables clients to borrow up to 50% of the property value.
The borrowed amount is subject to a fixed interest rate of 6% and is repayable in monthly or quarterly installments over a five year period.
Savings clients benefit:
- No mortgage and arrangement fees
- No life insurance requirements
- No early settlement fees
Please feel free to call us to discuss your individual requirements.
