Find answers to Frequently Asked Questions below.
What is Greece.Ru
Greece.Ru is a joint-stock company company that has been operating on the real estate market since 2002. Our experience has made us come to realise the need for a new approach and business model that combines an Internet real estate platform with its endless possibilities and the services of a traditional real estate agency.
We have, for many years, successfully supplied full realtor and legal services to buyers and tenants and in particular to foreign buyers for whom it is so important.
However, the real estate agency business model does not offer all the opportunities or the tools required for the other side of the market and its participants, namely the sellers and the landlords.
Great opportunities are available to the latter in the online marketplace, where those who rent or sell their property can, in a matter of minutes, list their property on the company's website, track the popularity of their listing and the number of views, adjust their budget and use various online tools to promote their listing all through their online profile.
Being able to instantly change the price of a property, add new photos and edit the details, offers sellers and landlords the possibility to have an immediate and direct exchange of information with the end client. It is no longer necessary to wait until your agent finds the time to update your property details.
The new model, which we have introduced to the market, combines all of the above mentioned tools, which are so necessary for both sides of the real estate market.
Location & more
As the old American saying goes, real estate is all about “location, location, location" Real estate over time changes its appearance, is repaired, and even changes its purpose. What remains unchanged is the location on the map and that is why, on our new portal, we not only search for properties on a map, but for the first time in Greece, we display the exact location of our properties on the map. The derivation of an approximate location by showing the radius in which the property is located is widespread on many real estate sites, but does not give the complete picture to the buyer or the tenant, and often only leads to a waste of time on both sides of the transaction with non-target viewings.
Moreover, we enable the property owners to show local infrastructure on the map. The latter is displayed on the property listing page and gives potential buyers and tenants the full picture as to what is to be found near the property, allowing the possibility to see on the map the distances between the property and the nearest restaurants, cafes, schools, and kindergartens.
What information do we collect?
We collect information from you when you register on our site or fill out a form.
When registering on our site, you may be asked to enter your name, email address, telephone number. You may, however, visit our site anonymously.
What do we use your information for?
Any of the information we collect from you may be used in one of the following ways:
To personalize your experience (your information helps us to better respond to your individual needs)
To improve our website (we continually strive to improve our website offerings based on the information and feedback we receive from you)
To improve customer service (your information helps us to more effectively respond to your customer service requests and support needs)
To send periodic emails. The email address you provide may be used to send you information and updates, related service information etc. Note: If at any time you would like to unsubscribe from receiving future emails, we include detailed unsubscribe instructions at the bottom of each email.
How do we protect your information?
We implement a variety of security measures to maintain the safety of your personal information when you access your personal information.
Do we disclose any information to outside parties?
We do not sell, trade or otherwise transfer to outside parties your personally identifiable information.
www.greece.ru (“site”) is the website of the company Greece.Ru Development SA (“company”).
Publishing information on site.
Any information and materials, published on site are protected by intellectual property law and are considered to be the property of the site and the user who published it. The information presented on site can be used only in informative purposes. It is prohibited to copy, reproduce or save the hole site or any part of the information used on it in commercial purposes.
The site is not liable for the accuracy or authenticity of the information presented. The information on site is subject to renewal and any time may become obsolete.
The site has a number of optional paid services which are property promotion online and production of marketing materials for the property.
The payment for the services are being done through charging credit or debit cards Visa, Mastercard, Maestro, American Express, Diners or Masterpass wallet.
The payments done are not subject to refund in any case and can not be cancelled.
All payments made using the card are processed through the electronic payment platform of “Alpha e-Commerce” of Alpha Bank and uses TLS 1.2 encryption protocol encryption with 128-bit (Secure Sockets Layer – SSL). Encryption is a way of coding the information until it reaches its recipient, who will be able to decode it using the appropriate key.
When listing property online the site the owner automatically accepts obligation to pay the commission to the company when the deal is completed. The commission is 3% for properties on sale and 15% for vacation rental properties.
For property buyers
How do you go about purchasing a property?
The purchase of a property consists of the following stages:
1) Choosing the property.
You can find a property on our site by using either the map search facility for an area, or by setting filters and choosing parameters for the property. If you are interested in several properties, you can add them to our comparison table for clarity. You can also contact our manager with your requirements who will select the best offers for you according to your wishes.
2) Viewing your selected properties
Having selected the properties that interest you, you can agree with our manager a date and time to view them. You can usually view between three to five properties in one region in a day. It is not recommended to view a large number of properties in one go. The manager has the right to agree with the client in advance any expenses for viewing the properties, which, in the case of purchase, is added to the cost of the company's transaction processing services.
3) Paying an advance.
After you have decided on a particular property, you need to pay an advance in order to take it off the market. The amount of the advance payment is agreed with the owner and, depending on the value of the property, can range from several thousand euros for inexpensive real estate, up to ten thousand or more for more expensive properties.
4) Preparation of documents for the contract.
Having paid the advance our lawyers will start work, preparing the package of documents necessary for the transaction at the notary. The process can take from several days, if all the necessary documentation has already been prepared by the owner, or up to several months in the case of more complex, from a legal point of view, transactions. The average time taken for the preparation of documents is around 2-3 weeks. During this time, the lawyers of our company will obtain a Greek tax number for the future buyer, and also open a bank account for him.
5) Signing the sales contract at the notary.
After preparing all the documentation necessary for the transaction, a date convenient for the seller and the buyer to sign the contract of sale at the notary is agreed. According to Greek law, the contract must be signed in Greek. At the same time, there will be an interpreter present for the transaction, who will translate the contract into the native language of the buyer. The interpreter's details, together with a signed statement as to the accuracy of the translation, are entered into the text of the contract. If it is more convenient for you to get acquainted with the text of the contract in your native language, our lawyers can prepare the text of the notarial deed translation, but you will need to notify them of this in advance. Also present for the transaction are the lawyers of both parties and, in fact, both sides of the transaction - the seller and the buyer. If necessary, one of the parties has the right to represent a third party whose powers must be confirmed by a power of attorney verified by a solicitor and a notary.
6) Registration of a notarised deed in the real estate registry.
After signing the purchase act for the property, the latter is registered in the state real estate register. This procedure is also carried out by a lawyer from our company. Documents confirming ownership of the purchased property are the notarised deed of sale and a certificate of registration.
If you own a property in Greece, you can entrust its management to Greece.Ru. Our company provides services for the management of the property, such as payment of utility bills, technical maintenance, the periodic inspection of the condition of the property in your absence, renting a property, filing an annual tax return, etc. The cost of these services depends on those required.
Residence permits and other conditions of stay in Greece for property owners who are non-EU citizens
For property owners in Greece who are not citizens of the country, local law provides for the right to obtain a five-year residence permit, provided that the cost of the property is 250,000 euros and higher. This residence permit applies to the spouse, children (minors), as well as the parents of the owner of the property. Every five years this residence permit is extended, provided that the right of ownership is maintained. Our company lawyers offer support in obtaining and extending this type of residence.
If the value of the property is less than 250 000 euros, the owner of the property is entitled to receive an annual visa, however, he can stay in the country for no more than 3 months during each half-year.
Owners of real estate worth less than 250 000 euros can also obtain a residence permit under the category "Financially independent persons", provided they have a stable income, which is not related to hired labor.
What is the "Average Annual Income" from a property?
On the details page of some properties for sale on our website you will see a note "Average annual income of X euro." The average annual income is the possible income from the seasonal lease of such a property. Its value is determined approximately by our specialists, based on many years of experience in the field of seasonal property rental. Lease of the acquired property can be carried out either by the owner through international platforms for holiday lets, or with the help of specialists from our company. If you are interested in earning a rental income, discuss the details and nuances of this aspect with our manager before purchasing the property.
Land Purchase. What are the nuances?
If you are at a loss with the choice of existing properties and can not find an option that ticks all your family's boxes, you may be interested in buying a plot of land in order to construct your perfect home. When buying land, it is necessary to discuss in advance such nuances as the designated area allowed for construction at each particular site, the possible location of the property and other building codes relating to it. Our company specialists can answer all of these questions.
When purchasing land, it is important to thoroughly review all aspects of the forestry, construction, and archaeological legislation and other nuances. We do not recommend purchasing plots of land independently without the support of a lawyer experienced in this area. Our lawyers can provide full support and will consult with you in detail on all issues related to the future use of the land and construction.
Construction and repair of real estate.
Our company provides services for the construction and redevelopment of real estate in Greece. Development services include all aspects, from the coordination of the necessary building permits, and the supply and connection of communications to the complete delivery of the property, including furnishing at the request of the client. It usually takes from a year to a year and a half for the construction of the villa from the project's approval to completion on a turnkey basis. We welcome cooperation with the clients designers and architects, if desired.
Is it possible to get a bank loan for the purchase of real estate?
Yes, it is possible. Our lawyers provide services to support applications for the issuance of bank loans for the purchase of real estate, including, to non-citizens of Greece. The prerequisite for obtaining a housing loan is the solvency of the applicant, commensurate with the required loan. If the applicant is unable to provide supporting documentation to demonstrate the ability to pay a monthly amount, the pledge of the property as a loan guarantee will be insufficient for the issue of a loan by the bank. For more detailed information about the terms of obtaining a loan for the purchase of real estate, and requesting a personal consultation with our lawyer, please click on the link.
What is the cost of Greece.ru's main services for property buyers?
Our company offers real estate and legal services to potential property buyers. The cost of our real estate services is 2% of the transaction value. The cost of our legal services for ownership transfer of the property is 1% of the transaction value, if the client uses both realtor and legal services. So the total cost of a package of real estate and legal services is three percent. VAT is charged at a rate of 24% of the cost of the services.
Is it possible to use the legal services for real estate ownership transfer from Greece.Ru if I found the property myself?
Yes, it is possible. In the event that you wish to obtain legal support for a purchase without using our real estate services, the cost is negotiated in each specific case and can vary depending on the cost of the acquired property, as well as the complexity of the transaction.
Is it possible to choose a property with the help of Greece.Ru, but not to use the legal services of the company and use my own lawyer?
Yes, it is possible. You can choose a property through us, and purchase it using your own lawyer. In this case, you pay only for the real estate services of the company to the amount of 2% of the value of the property + VAT.
What other legal services related to real estate are provided by Greece.Ru?
In addition to legal support for direct purchase and sale transactions, our company provides a full range of legal services in the field of real estate. An incomplete list of these services includes: preparation and continuance of notarised gift agreements, advising on inheritance law and probate, legalization of alterations to the premises and unauthorized construction, changes in construction permits, assistance in restoration of lost documents, obtaining the required certificates and documents according to forest and archaeological legislation, as well as offering legal expertise on transactions and the assessment of possible legal risks in the conclusion of real estate contracts, advising on rental issues and contracts, sublease etc. It is also possible for us to provide information and advice on the enforcement of tax laws in the real estate sector.
How long can I rent a property for?
Real estate rental is divided into long-term and seasonal. Long-term is considered a lease for a period of a year or more. The terms of a seasonal lease range from several days to several months. As a rule, in the details of each property available for seasonal rent in the booking calendar date selection, the minimum period for which you can rent a particular property is shown.
How does the booking procedure work for a seasonal lease?
Select the property you are interested in using the search filters. Use the search capabilities of the map and look at the location of the property on the map if you know the area. There is a reservation calendar on the selected property page. Enter the dates and send the request. You can also contact our manager by using the contact form, if you do not know the date of your visit yet, but you would like to ask some questions. Within 24 hours of sending your message you will be contacted by the manager to discuss the details. Then the contract is signed and the advance payment is made. The amount of the advance and the due date of the balance under the contract are discussed with the manager in each specific case.
How do I get to the property?
You can order a transfer through our company. In this case, the driver will meet you at the airport or other point of arrival and take you to the property. If you wish to get to the property yourself, your manager will give you appropriate instructions. You can also order a rental car through our company.
What happens when I arrive at the property?
At the property you will be greeted by a representative from our company. The duties of our welcome representative include: welcoming the guests and supplying all the necessary information regarding the property, providing information about the area, the local infrastructure and responding to any questions you may have. If you need assistance in organizing your leisure, activities, excursions or any trips, please also contact your representative.
How are any issues solved?
For any questions that arise during your stay, you can contact our representative.
What happens on our departure day?
On the day of your departure at the agreed time, your manager will come to the property. His duties include checking for possible breakages and damages, and settling issues in the event that the latter exist.
During your stay, try to be economical in regards to the consumption of electricity and water. Do not leave the air conditioning and other electrical appliances turned on when they are not needed. Unjustified usage of energy is not only not good for the environment, but can also lead to the need for additional payments, in case of exceeding the amount of free water and electricity specified in your contract.
Greece is a country of low crime. However, one should not tempt fate. To avoid possible incidents of theft, do not leave doors and windows open during periods of absence from the property, as well as at night.
For property sellers
How to sell property through Greece.Ru?
The first step in selling your property through the Greece.Ru is listing of the property on the company's website. We have developed a convenient way for owners to list their property online. After clicking on the "List Property" button and completing the subsequent registration, you will be guided through the stages for listing the property on the site, starting with the selection of the marketing package that suits you, continuing with marking the exact location of the property on the map and ending with the publication of your property on the website. Properties are usually published within 24 hours after listing on the website. After listing the property Greece.Ru you will get access to your online profile, through which you can track detailed statistics on the number of times your ad has been viewed by country, and also use the full range of marketing and advertising tools provided. Our manager will communicate with you by telephone or the e-mail supplied by you, whenever a prospective buyer registers interest and will coordinate with you and arrange a convenient time for viewing the property. If a potential buyer is ready to purchase, an advance is charged and the property is withdrawn from sale. The managers and lawyers of our company offer a full conveyancing service for the transaction.
I want to list my property for sale on Greece.Ru, but I don't have any photos of the property. What should I do?
After listing your property on our site you will be offered the option to order professional photographs of your property. We advise you to use this service if if you do not have good quality photos of your property. After payment, our manager will contact you and agree on a convenient time to photograph your property, after which the professional photos will be posted to your property listing on our website.
I do not have photos of my property and do not have the budget to pay for a professional photo shoot organised by Greece.Ru. Can I list my property on the site without photos?
Yes, you can. However, in this case, two aspects should be taken into account. 1) Property listings without photos are shown on our website last in the search results, 2) Even if, due to a combination of location, parameters and price, your property attracts the attention of a potential buyer, it is unlikely that someone will go to see it without first seeing photos. In any case, they will be required before visiting the property. Therefore, in principle, you can place an advertisement for the sale of the property on our website without photos, but it is advisable to either use our photographer's services in the future, or at some point take photos yourself and add them to your property's listing through your profile on the site . You should also take into account that the photos you make yourself must meet basic quality standards, otherwise, their publication can be rejected by our moderator.
What price should I sell my property for?
Study the prices for similar properties in your area before you list your property. Do not overprice the your property in the expectation that you will have to negotiate.
What marketing tools does Greece.Ru offer for faster selling?
80% of buyers and tenants perform a preliminary search for properties on the Internet before viewing. Therefore it is extremely important that the property listing published on the site is of high quality and professional. Our company offers a wide range of services for this. Among them are professional photo and video shoots and aerial photography, professional floor plans and virtual 3D tours. After you list a property on our site, you can choose all or some of the tools, depending on the budget that you have. The more professional your property looks on the site, the faster you will find a buyer. Providing the price is right, of course.
How to make sure my property is seen by as many potential buyers as possible?
In addition to the services our company offers for presenting your property, we also provide services for advertising and promoting properties that are listed on our website. After listing your property for sale or rent on our website, you can also use the function "advertise my property" in your profile. In this section you will be given the choice of either listing your property on the first page of our website, or to attract even more visitors to your property by placing an ad on other foreign real estate platforms that we partner with. In the case of the latter, you can choose your budget and the country of promotion. The budget calculator on your profile will show you how many visitors you will attract to your listing, depending on your budget and chosen country.
What is the cost of Greece.Ru services for property sellers?
Owners wishing to sell their property through our company pay 3% of the transaction value when executing a purchase transaction through our company.
Is it possible to use the services of Greece.Ru specialists to prepare a document package for the sale of my property?
Yes, it is possible. The cost of such services is not included in the basic package and is by agreement, depending on the scope of work.
My property is listed on Greece.Ru, but potential buyers have not shown interest. What is the reason?
Every property has its buyer. However, in order to find it, there are two requirements: 1) the property should be well presented, 2) the price should be attractive.
If your property listing is incomplete or of poor quality, the potential buyer simply will not have a complete idea of what you are selling. Equally, no one will buy real estate at inflated prices.
To fulfill the first requirement, our company provides a full set of services for the preparation of presentation (marketing) materials. Use the maximum number of these services and do not economise on professional photos and aerial photography, video, etc.
If your property is well presented, but buyers are still not showing any interest, check if its price is too high. Compare the prices of similar properties in the area, and pay more attention not to the price at which these properties are on the market for (after all, the prices may also be too high and they can also not sell) but namely, at what price properties similar to yours are selling at. You may also consult with our specialists regarding the optimum price for your property.
On our site there is a module "subscribe for price updates". If you receive a notification that visitors to the site are subscribed to any updates in the price of your property, it means that they are ready to seriously consider buying in case of a price reduction. Lower the price if you feel it is necessary. You can do it directly via your profile. When you do so, those who signed up to receive price updates will receive notification.
If you do not receive any requests for property viewings, or notifications that users have subscribed to price updates, this probably means that the price is very high.
So the surest way to quickly sell a property is to present it well, set a competitive price and use the promotion module on our site.
For property landlords
How to rent your property effectively with the help of Greece.Ru?
1. List your property on the company website. If you do not have professional photos and videos of the property, choose and order them from our company in the section "Marketing materials" on your profile.
2. If you are interested in the seasonal rent of your property, use the "Detailed Pricing" and "Available Dates Calendar". These functions will become available via your profile after listing your property on the site in the "seasonal rentals" menu option. The use of these functions is not mandatory, but makes the leasing process much more efficient and will save a lot of your time. When there is a client interested in renting your property, our manager will contact you and help you to rent it.
What is the cost of Greece.Ru services for landlords for seasonal letting?
With seasonal rental, the cost of our company's services is a commission of 15% for each reservation made after payment by the tenant to the owner.
What is the cost of Greece.Ru services for landlords for long-term leases (from one year or more)?
For properties listed on our website for long-term lease (for one year or more), the cost of Greece.Ru services is a commission to the equivalent of one month's rent after the tenant's moving in and the signing of an appropriate lease agreement between the owner and the tenant.
How should I prepare my property for my tenant's arrival?
Before the guests arrive, check that everything is working properly in the house. In particular, this applies to plumbing, electrical appliances, the internet and any other items listed on the site. Check before they arrive the availability of the required number of sets of laundry and a sets of dishes. Pay special attention to cleaning the property before the arrival of guests. It should be absolutely clean.
How is the arrival and departure of customers who book a seasonal lease managed?
The owner must meet the guests at a pre-agreed time for their arrival. Usually, when they arrive, there is also a manager from our company who will help explain the rules of using the house to the guests. When guests leave, as a rule, there is also a manager from our company who will help to check for possible breakages and settle any issues that may have arisen. The presence of the owner when guests leave the property is mandatory. In the event of his absence, neither the company nor the guest is responsible for any possible disputes concerning breakages and damages that were not established at the time of the guests' departure in the presence of both parties.
Who is responsible for possible breakages in the property during the guests' stay?
The tenants are responsible for breakages. As a rule, upon arrival a damage deposit is charged, which is a guarantee in case of breakages and faults that may have occurred due to the fault of the guests. If such are found upon departure, the manager of our company will help you to settle the question of compensation for damages through the deduction of the required amount from the guarantee deposit.
Can I insure my property?
You can insure your property. Contact the manager of our company for advice on the procedure and the cost of insurance.
What issues can arise during the guests' stay in my house and how are they resolved?
During the period of residence, guests may have all kinds of everyday questions about the functionality of the house and possible faults. These may include, for example, interruptions in water supply, the Internet not working, other breakdowns and malfunctions that occur not through the fault of the guests. In case of such questions, guests can contact our manager , and he, in turn, will notify the property owner about what needs to be done. During the the guests' stay, the property owner, or his representative, must be available for to contact and willingly help the manager to solve any questions the guests have. If the questions concern faults not caused by the actions of tenants, then they should be fixed at the expense of the landlord.
What services are provided by Greece.Ru?
Our company provides a wide range of services in the field of property management, , including services such as the paying of utility bills, filing annual tax returns, real estate insurance, storage of spare keys, ventilation and heating of premises during the absence of the owner, minor repairs, payment for gardening services, renting out the property and so on.
How much do the property management services of Greece.Ru cost?
The cost of the package of services for property management depends on the list of services provided, as well as the location of the property. Contact our manager to create an individual package of services for your needs.
I bought a house not through Greece.Ru. Can I use the services of Greece.Ru for property management?
Of course. Our company will be happy to provide property management services, regardless of how and when the property was purchased.
Real estate development
What services does Greece.Ru provide in the field of real estate development?
In the field of development, our company provides a full range of services. Among them, the development of the project in accordance with the budget and the wishes of the client, obtaining permits, construction of the property and landscape design of the site, connection of communications, and furnishing the property at the request of the customer. The property is delivered to the customer on a turnkey basis, completely ready for occupancy.
What is more profitable - to self-build or buy a resale property?
If it is a question of a house (villa) of about 300-400 sq.m. with a separate site and you have the necessary budget for this level of property, we believe that it is more profitable to build a property than to buy a ready made property. The market has a sufficient number of similar properties in the range of plus minus one million euros, but it should be noted that this is usually not a new home with all the ensuing problems, plus when building a house it will be developed to meet all the requirements and wishes of the customer and his family. Therefore, we believe that it is more profitable to build. Of course, if you are considering buying an apartment or a townhouse, then there is no need to self-build.
What are the stages for the development of a property?
The stages of development of a property are: - Selection and acquisition of land - Development and approval of the project in accordance with the wishes and budget of the customer. - Construction of the property and landscaping - Connection of communications - Furnishing the property according to the wishes of the customer - Turnkey delivery of the property, fully ready for occupancy.
If after the completion of the property I have any questions, who do I contact?
After the delivery of the completed property to the customer, our company continues to provide technical support. We guarantee the quality of the work carried out by our company and while any installed equipment is covered by the manufacturer's guarantee, any questions that may arise regarding the latter may also be resolved with the help of our company.
How much does it cost to build a property?
It is generally believed that the average cost of quality construction in Greece is about 1,000 euros per square meter. To this price is added the landscaping but, of course, the final price depends on the features of the project and the requirements of the customer.
What if the developer goes over the agreed budget when building a project?
When implementing the project, our company is responsible for three main parameters, which are the delivery of the project on time, in an agreed budget and in high quality. Therefore, the project can not go over the agreed framework, and our company is responsible for this.
What is the time-frame for construction?
It usually take 12 months for the development project from its approval to completion on a turnkey basis. The reason for longer a implementation period, which is agreed in advance, can be, for example, the development is in areas with complex terrain that requires additional landscaping work.