We suggest as a guide you budget for approximately 5-7% to cover costs for additional services.
The annual cost of living in the Greek Islands is significantly lower than in the USA, though the quality of life compares very favorably. It is estimated that a couple living in Greece will require an annual income of $23,400 to run the property of their dreams.
The breakdown of the costs are listed below:
Land Registry Fees - this is typically 0.3 - 0.5 %
Notary Fees - this is approximately 1-2 %
Legal Fees - typically around 1%
Registration costs - this is around 0.5 %
Taxes
VAT of 13-19 % depending on area
N.B These figures are for reference only and can vary significantly.