Old Property Fiscardo Kefalonia


Buying Property on Kefalonia


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If you have enjoyed your stay on Kefalonia and fallen in love with the Fiscardo area, you may well be considering the idea of investing in property abroad. A common question visitors ask is "Is it easy is to buy property in Greece?" The answer is yes. If you are an EEC citizen, the process is straightforward enough, not entirely dissimilar to the system you are used to at home and as easy as purchasing any other overseas property.
Driving around, you will see so many beautiful old houses, often in sad states of disrepair. Unfortunately, a lot of these are not for sale. Greek inheritance laws are complex and as a result, it is not unusual to find properties jointly owned by several different people. Unless they all wish to sell, purchasing under these circumstances would be very difficult indeed. Dilapidated House Fiscardo Kefalonia
In the Fiscardo area, houses for sale are the exception rather than the rule. However, at the time of writing, there are still plenty of building plots to be found and if the first preference is not achievable, buying land and building the house you desire, is the next best option. Prices asked, particularly for houses, villas or ruins can vary considerably.
Unlike some areas, in Kefalonia there is no specific market value. The price is a combination of what the seller wants and what the buyer is prepared to pay. Building land has a more fixed price and a 1 strema (1,000 sq meter) plot, with good views and within a village boundary would start at around (Euro) 35,000. Once you have found your dream villa, plot or ruin the procedure is fairly simple. However, before proceeding you should make sure of a few points. Firstly, is the seller, the clear and rightful owner? Remember the inheritance laws. You certainly don't want anyone popping up later, with a claim on the luxury villa you have just purchased. In the case of land, you need to be sure that you will be able to obtain planning permission. There needs to be road access to the land. If there is only a footpath, you may need to get permission to widen it from neighbours, who may or may not be happy to oblige. Within the village boundaries you can obtain permission to build on a plot 1 strema in size. However, outside the village boundaries you must own a much larger, at least 4 strema plot; there are plans to increase this to 8 strema soon. If there are lots of trees on the land, make sure that this is not designated as forest, as building permission would not then be granted.
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