# Greek real estate experience??



## Value (Jul 31, 2015)

Hello everyone, 

It's a dream of mine to purchase olive producing land go and take care of it when I retire... I have spare money looking to park somewhere and seems like the revenue while I wait to retire would be very satisfactory. 

Does any one have any experience here on Greek real estate... Not necessarily an olive grove, but any experience...

In terms of legality or general market, etc... 

Let me know if you've been through it can help me out!

Thanks all!


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## OhGreatGuru (May 24, 2009)

That's all the Greeks need: foreigners taking advantage of their financial collapse by buying up arable land. Be prepared to provide private security for when the revolution starts.


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## dogcom (May 23, 2009)

You would have to look at the property taxes a foreigner would pay and also the rules like in the US where you can't work on your own house to name a few.


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## fraser (May 15, 2010)

try this for a start:

http://www.yourhomeoncrete.com/en/buying_in_greece.aspx

Once concern would be the growing demand by a number of countries for people who buy property/reside in the country for longer periods complete a document outlining their assets. To me, this is some sort of pre curser to tax foreign owners. France has indicated that they may be instituting a special rental tax on non residents who own property and rent it out periodically to cover expenses. I can easily see countries like Spain, Portugal, Greece, and Italy passing legislation to place special forms of tax on non EU residents.


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## humble_pie (Jun 7, 2009)

you sound a bit like a small "r" romantic. Not a hopeless Romantic, more of a practical romantic. It's great to have adventurous plans.

you don't need to buy in greece, though. Many other countries grow olives.

here's a small "r" romantic book with strong bones. Carol drinkwater is a british TV actress who, together with her husband, restored a ruined italianate villa outside Nice, along with its 400-year-old olive orchard.

over time, drinkwater became an expert premium quality organic olive grower. One day she set out to trace the route by which olive groves had moved - botanically, agriculturally, historically - all around the mediterranean, several thousand years ago.

she found still-fruiting olive trees in lebanon that are 6,000 years old. Older than egypt, older than mesopotamia.

amazingly, her scholarly & political details are accurate. They give this lovely romantic traveloque an intriguing infrastructure.

evidently there are cheaper but riskier olive-growing countries than greece. No foreign ownership restrictions yet. Only problem is quite a few terrorists around. Drinkwater says that safer countries would be malta, france, spain & portugal.

happy dreams.

http://www.caroldrinkwater.com/pages/books/the_olive_route.htm


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## Value (Jul 31, 2015)

@ GreatGuru... I would be looking at moving in there within a minimum of 20 years, so I'm hoping the whole crisis will be settled by then... Untill that time, there will be only olive trees on the land to burn down if anything... Still makes a lot of sense for me to get into this now that the greek market is down and the canadian one is way up and to move closer to a genuine passion of mine and start living it even by distance (I.E. olive farming)... Beside, my origins are from southern east side of Italy and though I am not quite greek, we are not all that different. 

@Dogcom and fraser, for now, I am looking for a land without any building, simply to grow to olive and have a local farmer maintain and harvest it for me... The value of those properties are not elevated at all and I'm sure that the taxes, if any would be quite small... Anyways, Fraser, I loved the link!! Thanks a bunch for sharing... I suppose I will need a lawyer for this as you never quite know... It's most definitely worth it... Besides, it would save me the travel and I would be covered in case of any issues legally (Their register is probably very rudimentary still). 

@ Humble... I suppose I am a realistic romantic... To me, olives is life's most precious little pleasure, I can eat those anywhere anytime and I've always been attracted to an alternative lifestyle... I'd still quite young, so it's not a short term plan, but someday I would definitely like to get out of this cold canada weather and into a lifestyle more simple and ancient... I would have to read those books by Carol, but I can definitely understand her olive passion/fascination... I share it along with her, but I'm not as intense to live it like her... I'll just start with this first purchase and I'll see where it takes me from here... A long with being a great dream, it does make a lot of sense investment wise right now...

---------------------------

For all interested, I was on the verge of buying a very small property just now, it was in a good spot and had some very interesting math to it... The property cost 9 times net income, (YES NET), so as a canadian used to bad ratios, this was very attractive... However, the selling agent told me that his commission was 20%... Now that's just ridiculous... Mind you, the property was dirt cheap so if he was to ask for 5%, the work would probably not be very interesting for that pay... I asked to see if the seller would lover the price for it to include the commission and he said no... I think I will get keep looking...

I have a greek relative here and her family bough a vacation property in greece a few years back, so she will give me the agent's contact shortly, I will deal with her instead and then I'll get a lawyer to represent me.... 

All in all, I'm looking for something from 5 to 10 acres and without a building on the property... 

Anyways, if anyone has interesting comments or tips for me, keep em coming please!!


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## Cdnwife (Sep 10, 2013)

My husband is from Athens and if there is anything I have learned about dealing w the Greeks is that if they have a chance to make a profit from you, they will. I am not surprised by the 20% rate. In a country where you pay off everyone and very little is on the books, folks are looking to make a quick buck. If you have family or friends there who can help you in this journey, that is by far the best way to go.


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## Hawkdog (Oct 26, 2012)

I believe most olives used for olive oil - labeled Italian are grown in Portugal and Spain.

To add to Humble's list - you can grow olives in New Zealand as well  I would wait for the dollar to correct before buying there though, the 30% discount is gone.

http://vinesmart.com/wine/Real_Esta..._Estate_olive_grove_Martinborough_New_Zealand


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