Frequently Asked Questions
*How do the locals accept foreigners buying in their country?
On the whole, Greek people are very hospitable and welcoming. Locals welcome foreign holiday visitors and it is a tradition to provide warm welcome to people who buy properties and live on the island.
*Will I need to learn greek?
The Greek language is a beautiful and rich language, but it must be admitted, difficult to learn quickly. The vast majority of Greek people and especially Kefalonians speak fluent English mainly because of the island’s tourism and its tradition in merchant navy. You will not find any difficulty communicating with the locals or conducting your business at the island’s private or public organisations. However, it will be appreciated if you learn at least a few words of Greek in order to greet neighbours and locals.
*What is the weather like?
The summer is long and warm, however the mild wind keeps things cool. The winter is mild, especially up to the end of the year, but the first three months of the year can be wet. Apart from in mountainous and hillside areas, there is rarely frost or snow.
*What about earthquakes?
Kefalonia and Greece in general have occasional seismatic activity and houses are built complying to the strictest government regulations in the European Community. Earthquakes are not a major worry or problem here.
*Is there a problem with water?
Most areas of Kefalonia do not have a problem with water supplies; in those areas that do, extra water tanks are recommended. Tap water is safe to drink, however in some areas it tastes of salt and therefore bottled water or small tanks are built to maintain fresh spring water from several mountainous villages.
*What is the availability of work?
Official unemployment in Kefalonia is very low, however, if you are looking for work it is important to get to know as many people as possible, especially related to the type of work you are looking for. To work on an official basis if you are a non EU citizen, you will need to apply to the police station for a residence permit and pass through the relevant bureaucratic procedures. If you are an EU citizen you only need to register with (IKA) the Greek National Insurance Organisation and have a card issued for you. If you are starting up your own business, bring as much related paperwork as possible.
*How do I open a bank account?
It is very simple - you only need your passport and a minimum amount of money (at present 15€; 160€ ensures you will earn interest on your account).
*Can I bring my car with me?
You will need to check with your embassy/consulate as to the present situation, which is going through a process of change at present. If you bring a car which you wish to keep in Kefalonia for longer than the official time allowed, then you can change to greek number plates for a fee (greek number plates cost about 900€ plus administration costs).
*What plots of land do you have available?
We can search for all available plots of land available on the island. If you choose a location of interest we can investigate it for you and produce the results as soon as possible.
*How much does it cost to buy a house?
Prices vary immensely and depend on, amongst other things:
- Distance from the sea
- Whether within or outside village/town plan limits
- If building permit is required
- Owner's desirability to sell quickly or no
*Can anybody buy?
Any person holding an EU passport may purchase property or land within Greece, i.e. Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxenbourg, Portugal, Spain, Sweden and the United Kingdom. Additionally, Greeks of the diaspora and persons of Greek descent. Outside this criteria, there is a process by which non EU passport holders or their spouses can purchase property/land, and this can be addressed individually.
*What about taxes?
There is no annual Real Estate Tax in Greece. The Title Transfer Tax (9 - 13%) is paid only once and this happens when a property changes ownership. As a property owner in Greece you are liable to Greek income tax laws. It is very important when you import your purchase money, that you retain the 'Pink Slip' from the Bank to prove that you imported the money and did not earn it within Greece. It is most likely that you will need to hire an Accountant, at the end of the tax year, to present a tax declaration for you in the proper manner, so should not have to pay an income related tax.
*What about insurance?
It is essential to insure your home and its contents against Fire-Burglary-Earthquake etc. We have arrangements with well-established insurance businesses such as Alliance and Nationale-Nederlanden that offer excellent cover and good value for money. Should you wish to take further insurance such as Medical Plan, Life Insurance, Pension Plan, Personal Accidents, etc our insurance brokers will be happy to assist you.
*What about legal advice?
We strongly advice you that a local Greek lawyer should be appointed to act on your behalf. They are experts in local laws and property planning regulations. They are able to carry out the necessary searches to reassure you of a clean title very quickly therefore making the process more economical and efficient. For further details see “Purchase Procedures” on The Next Steps page. Please visit our “Guideline Process” page for full details.
*What about financial planning?
Planning your finances before you start looking is quite important. You need to know what the costs are likely to be. We can help you with your financial planning based on the costs of living on the island and your personal preferences so you can be confident about your budget. Please visit our “Financial Planning” page for full details.
*What about banking services?
Transferring your money from back home to Greece could be costly and time consuming. We can assist you with moving currency by advising you to choose a bank located on the island that will serve your needs. We, strongly, advise you to use a currency broker, which will save you money through obtaining good exchange rates, low charges and commission. A currency broker can also advice you on the best way to manage the funds transfer.
*How can I plan a visit to view the properties?
Kefalonia has more to offer the visitor and the resident than any other island in the Mediterranean with its fascinating blend of landscape, climate, history and culture. But don’t take our word for this! Why not plan a visit to Kefalonia and see it for yourselves? You can plan your visit by booking a package holiday or you can travel independently in which case we will make the appropriate accommodation arrangements for you. Upon your arrival we will be more than happy to meet with you at your convenience, assist you with any enquiries that you may have regarding your home ideas and work together in order to design, plan and build your perfect home or we can arrange to view existing properties and various plots of land.
*What else must I expect to pay when I purchase?
On a straightforward sale you will need to employ a lawyer, a notary and possibly a power of attorney.
*Can I rent before I buy?
We can assist in finding you a property to rent while you look for a property.
*Can I rent out property I have bought?
You can rent out your property without problems. We can always assist you with the relevant paperwork.
*What about if I want to build my own house?
This could be tricky or even a disaster. Many foreigners have attempted to build their homes individually. Most have completed the works, but very few have not faced technical difficulties, legal problems, financial worries and enormous stress. The property development framework system in Greece is complicated and changes quite often. There are several taxes to be estimated, a complicated building permission process, a number of subcontractors to be dealt with and a bureaucratic Public Service that require specialised knowledge, length of time, managerial skills and patience! We take all this away and deliver you a completed property based on your exact specifications, quick and safe.
*I have heard greek builders, engineers and workers are unreliable. Is this true?
It is well known that part of the Greek charm is a slightly laid back attitude and sometimes a lack of urgency. This is probably why you want to live in Greece! You need not to worry about this, however, as this is our professional territory. Our company employs more than 30 employees including architects, civil engineers, mechanical engineers and technicians. There is also a team of more than 10 sub-contractors that assist us with our projects. Our team of architects and civil engineers have extended technical experience on a wide range of projects. Through years of experience in the construction industry, our senior management has developed a wide range of expertise that can be applied to any project regardless of size or complexity.
*Can I design my own dream house?
From the very beginning of the design-build process, the emphasis is on developing a partnership between the client and our team. During the pre-design and project planning stages, every effort is made to create and maintain strong channels of communication and to clearly present the options and risks of various design alternatives. Our team views this knowledge-based construction as critical in allowing the client to participate in the design and building process. Working with the client to confirm cost and scheduling targets means fewer delays and no final surprises.
*What are the capital investment/ ventures opportunities on the real estate business in Kefalonia island?
Tourism on the island is increasing steadily, however Kefalonia has the slowest increase rate of all the Ionian islands. This has proved to be more of a blessing than a curse because local authorities have had many examples of good and bad practices by the neighbouring islands at their disposal. Good practices have been adapted and exercised in the process. The tourism infrastructure is constantly being improved and adjusted to new higher standards. This is the main reason that the island has remained and will continue to remain an “unspoiled paradise” as many visitors describe it. The real estate business of the island is booming like no other business sector with hundreds of construction projects being developed. There are several business opportunities taking advantage of the developing tourism industry on the island. If you are serious about any kind of investment on the real estate you can call us and discuss any ideas or thoughts that you may have concerning a possible cooperation between us. We are interested to listen and discuss your proposals with you.
*Can I consult my own architect?
You are free to consult any professional civil engineer or architect who can advice you. However, our own team of engineers and architects manage the projects as much of the paperwork involved with building a house requires the stamp by an official/greek recognised professional.
