The process of buying real estate in the Republic of Estonia can seem a bit complicated on the surface. With that said, the government of the Republic of Estonia has worked rather diligently to liberalize and modernize the laws governing the buying and selling of real estate in that country. In this regard, a good deal of effort has been expended making it a bit easier for foreign nationals to buy real estate in Estonia.

There are two primary contracts involved in the sale of real estate in Estonia. Both documents are prepared by a notary. Indeed, in Estonia it is mandatory that a notary be involved in the real estate sales process, that a notary prepare these primary documents. The initial agreement in the Estonian real estate sales process is the sales-purchase agreement. This agreement is prepared by the notary and is executed by the buyer and the seller once the seller makes an offer on the property that is for sale. Generally speaking, once the oral offer is made by the buyer to the seller, the sales-purchase agreement can be prepared and executed with a period of ten to thirty days.

During the period of time between the execution of the sales-purchase agreement and the final agreement in the sales process, the buyer obtains financing and the seller makes certain that the property physically and legally is in a position to be conveyed and transferred to the buyer. In addition, during this interim period, the buyer must pay to the government what is known as a state fee — which is in the amount of 0.4% of the value of the real estate being sold and purchased.

The final agreement in the real estate sales process in Estonia is entitled the transfer of ownership in real estate agreement or document. When this document is duly executed by the parties, an application is made to the Land Register Office to transfer the ownership of the real estate from the seller to the buyer. In addition, following the filing of this application, a public notice of the change in ownership of the real estate is published in the Official State Gazette, the official publication in Estonia that publishes legal notices of this nature. In summary, the process of buying real estate in Estonia does include a number of hurdles that seem confusing and complicated on the surface. But, as has been noted, the laws have been modernized and liberalized in recent years. Chances are quite good that the government of Estonia will continue to work to make the real estate laws in that country a bit more “user friendly” and less cumbersome in the future.

Greece now has a large number of foreign nationals who have already invested in property and this number seems to be growing by the day. The property market of Greece is one of the fastest moving in Europe because of so many overseas investors rushing to buy property in the country.

As most people know, Greece is a popular tourist destination, and it is no wonder, with its sunny climate, stunning views and laid back approach to life. The cuisine is known throughout the world, for example: moussaka, feta cheese, and dolmades. And many homes have a bottle of Greece’s famous Ouzo in their drinks cabinet. The cost of living is 40% lower than the UK, and in today’s economic climate that is welcome news.

Many people want to enjoy the delights of Greece on a regular basis and are purchasing a holiday home…or two…in the country. Some visionary people are taking the concept of purchasing holiday homes one-step further. They are buying property in Greece and then leasing them to enthusiastic travelers. A large number of people travel to Greece every year and renting a holiday home can often be cheaper that staying in a hotel over a period of time. Holiday homes also tend to be more personnel than a hotel room, which is another reason why they are popular with travelers.

When buying property, Greece, has more to offer than just holiday homes. Many foreign nationals have invested in commercial properties in the country, especially in the more developed cities. Commercial properties include retail enterprises as well as office buildings, and since Greece became a member of the European Union, the demand for office buildings has increased.

Whenever buying property in Greece, the investor must bear in mind that investing in any overseas property requires adequate planning, for example: looking at the market situation; the best location to invest in; when to buy; and what type of property to buy – for example: low-priced single-family homes are difficult to find in the well-developed city of Athens, but are easier to find in other cities such as Larissa. There is help at hand to assist investors: local real estate agents can acquaint foreigners to the realities of the property market; there are English-speaking lawyers specialising in property sales; and oversea holiday clubs.

In conclusion, when buying property, Greece has plenty to offer investors because the property choices are wide and varied, the country is popular with tourists, and property investors are already making excellent returns on their investments.