Price & Purchase Terms

The price for the plot, including the building permit, is €105,000.

FAQ

Does Greek law allow the plot to be sold together with the building permit, and will the permit remain valid after the sale?

Yes. Under Greek law, the property can be sold together with the existing building permit. The change of ownership does not, in itself, invalidate the permit, which can continue to apply to the property subject to the required administrative update.

Why is this building permit so valuable?

It is valuable because it allows the buyer to continue the investment based on an already approved project, without having to go through the entire building permit process from the beginning.

It is also valuable because it was issued before changes were introduced to Greek building regulations. Obtaining a permit today for a project with these parameters could be significantly more complex and subject to additional requirements.

Where can I find a contractor?

We have already found a contractor — a highly experienced construction company based in Katerini. They build private homes as well as public projects, including schools and other facilities. They have their own equipment, workforce and expertise, and can manage the entire investment from start to finish, including all administrative and paperwork requirements. If you are interested, we can put you in touch with them.

Of course, you are also welcome to find a contractor on your own.

How can we complete the transaction?

To sell the plot together with the building permit, the transaction must be completed before a notary in Katerini through a notarized deed. The details and required documentation should, of course, be agreed with the notary in advance by email.

Does the building permit have a validity period, and can it expire?

Yes. In Greece, a building permit is generally issued for a period of four years. This permit is valid until 9 October 2028.

What if I don’t complete the house before the building permit expires?

Under Greek law, if the structural frame of the building is completed before the current permit expires, the engineer can apply for a four-year extension. Following the required inspection by the authorities, the permit can be extended for a further four years.

Importantly, the extension is based on the building regulations in force when the original permit was issued. Subsequent changes to the building regulations therefore do not affect the approved project.

After extending the building permit for another four years, do I have to complete the entire investment by 9 October 2032?

Yes. The construction must be completed by 9 October 2032. For the building to receive final approval from the relevant Greek authorities, it must include the complete structural frame, walls, roof and façades, external windows and doors, all installations specified in the approved plans, and any required fire-safety systems. The building must also comply with the approved architectural, structural and engineering plans, as well as any applicable requirements for site development.

What is the estimated cost of completing the construction to the point of final approval and formal completion of the project?

We estimate the total construction cost up to final approval at between €300,000 and €350,000. The actual cost will, of course, depend to a large extent on the investor’s choices and cooperation with the contractor.