Don't Buy Real Estate In Greece Without Watching This
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- Опубліковано 31 лип 2024
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Europe insider Con Murphy reveals how you can buy real estate in Greece. Learn about the property buying process in Greece, its pros, cons, and much more.
Chapters:
00:00 Introduction
3:19 Residency In Greece
4:31 Tax Incentives
6:36 Considering A Fixer
Upper?
7:56 The Buying Process
12:56 Taxes
14:49 Rental Tax
15:48 Closing Costs
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Thank you, I found this very helpful.
Thanks, amazingly helpful!
Awesome presentation!! Amazing 😮
Just a quick note: None of those tax advantages work for Americans. America taxes you no matter where you live in the world. So moving to Greece isn't going to reduce your tax burden. At least Greece has an agreement with the US so you can deduct what you pay in Greece from your US taxes. I was bummed when I found this out as I was thinking I could transfer all of my 401K out of my 401K at only 7%. Unfortunately, it just doesn't work that way, at least for American citizens.
Greece offers a credit for U.S. taxes paid on U.S. sourced income against its own tax liabilities (meaning you must file, but owe nothing unless Greece has a higher tax rate, then only the difference). This is what I have found online, anyway. I plan to go there and talk to an attorney next year before buying a place in Crete. I found the same to be true for France, btw. I am an American living in Slovenia now, but when I turn 60 in 5 years, will have to leave or pay double tax on my IRA distributions since all European countries (except Greece & France as far as I know) will not give me credit on U.S. paid taxes on IRA withdraws. The U.S. always gets paid 1st on any type of pension, 401k, IRA. Someone correct me if I am wrong, but I spend a lot of time avoiding taxes.
You can use the foreign earned income up to $126,500
Buying or selling in Greece is a nightmare!! Papers papers papers and you, pay pay pay. Lawyer, notary etc. Worth it? No. Rent and move on at will.
I'd like to buy an apartment in Crete Greece. It is in Maleme Crete and has sea view. It's new and will be finished in 2025. The per sqmt price is high: 5000 Euros. I just wonder the liqudity of the houses on Crete island: if I want to sell, how quickly can I sell it? Thanks!
helpfull video...
Thank you George, glad you enjoyed!
It's worth noting that tourism in the mainland is increasing anually. Probably due to development of the highway system. It's very easy to get to Meteora or the Peloponnese nowadays. Athens can be nice, but must be avoided at all cost during summer. At least until some major constuction projects are finished by the end of the decade.
I was just in Athens and I loved it. Can I own a rental? Like an Airbnb?
You can own anything in greece if you have deep pockets and prepared to pay the FAKELAKI... plainly translated means an envelope with a bribe.You have to be prepared to pay these little bribes if you want doors to open or else you wait like the rest of the heard.
I'm planning on moving overseas in the next few years to Argentina. I had a general question to ask. I'm planning on opening a foreign bank account, but only want to deposit a minimum amount of money into it every month from a pension. What is the best and least expensive way for an expat to access their US bank account if additional money is needed?
Convert your entire estate to cash and it buys a single grain of rice there. The next day it buys half a grain of rice.
I LOVE ATHENS ❤❤❤❤ What do you mean you hate it? 😮😂😂
Can you recommend a real estate attorney in Athens/Greece?
There's plenty of them but their all crooks.
Hence, the dude asked for recommendation
If you got an answer @pauliep84 please let me know, I have the same question
Tax in Greece is very high for normal people, not the super rich, as we are taxed from Zero and on investment Airbnb's it's one of the highest in the EU if you go above 12,000 euro's!! It's also taxed on the gross rent!!
The rates are high, but I've read that there is a standard deduction of 40% for expenses. Why do you say the tax is on the gross amount?
@@noahcdmx1985 Over 35,000 is actually 45%, we also pay on a sliding scale upto 10% solidarity tax and we can actually claim a 5% reduction for maintenance etc which is practically nothing in the big picture. I said gross rent because you can not even deduct from your tax bill the fee's you pay to Airbnb or any management costs you may pay to an agent!!!!!!
Let me tell you that you look to buy property in Greece in the wrong way i will tell you how to do it correctly, go to your Empassy and ask them to introduse you to the lowers and then going through REMAX or Others we get 1000's of them, like the Israelis, the Chines and many others to find a property, Then when you buy you must pay some small fees to the agents that is 1,5% from the total price not more than that, All the aeries they get a Square meter price that is easy to find them even using CHAT GPT and then you must start the nagosiations
Property tax as mentioned can’t be right ..
Thanks for the information. But do invest in (at least!) some better sound because nearly 50% of your content is not understandable...
Athens is a sleeping beauty.
When the sighns of the crisis go all will look better again. 🤗
Italy is maybe a better option, lower prices, less problems, a lot of houses and more lower tax probably. 🤔
How delightful that most of you couldn’t care less about Greece. You just want cheap
How delightful the human spirit is to seek a better quality of life. If that person is respectful and contributes to that country, great