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Value Added Tax (on new properties) |
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There are no "hard and fast" rules for determining exactly how much the total of these costs will be. Most are calculated using the "Tax Value" (also referred to variously as "Deemed Value" or "Objective Value") which is assessed by local tax officials and periodically reviewed: in the UK the best analogy is with the value set by local authorities on which council tax is based. The Tax Value is usually between 33% and 50% of the commercial value - the price which you actually pay for the house.
As a rule-of-thumb you should budget for additional purchase costs in a range of 10% - 13% of the actual purchase price. So, as an example, to buy a house which is offered for sale at €100,000 will usually involve additional costs of between €10,000 and €13,000.
Aegean Blue can help you understand the precise workings of these different costs via a friendly 'phone discussion. Give us a call on +44 (0)845 838 5108 and we'll do all we can to explain all you need to know.
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Zakynthos €350,000
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Santorini €205,000
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Lassithi 1700000
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