Pittadjis - Transfer Fees
February 20, 2009
At the time when the Title Deeds are ready to be
transferred to a purchaser, it is necessary for the purchaser
to pay transfer fees. The Transfer Fees are calculated according
to the property’s net value as at the date of the
contracts. The level of Transfer Fees are as follows:
0 - €854,30 @ 3%
€85,430- €170,860 @ 5%
€170,860 + @ 8%
Example 1
The Purchase Price of a property is €260,000.00 euro, the
buyer will pay approximately €13,964.70 euro as follows:
First €85,430 @ 3% = €2,562.90
Next €85,430 @ 5% = €4,271.50
And €85,430 @ 8% = €7,131.20
€13,964.70
However, if a property has been
bought by more than one person, the
Transfer Fees will be reduced and will
be assessed on the number of buyers
of the property. Based on the
purchase price of €260,00.00 and on
the basis that the property has been
bought by two persons, the following
figures will apply:
Example 2
The Purchase Price of a property is
€260,00 ÷ 2 = €130,00.00 paid by each
buyer.
First €85,430 @ 3% = €2,562.90
And €44,570 @ 5% = €2,228.50
(per person) €4,791.40
Multiplied by 2
Therefore Total €9,582.80