Macedonians Love the Seaside: Bulgarian Passport as a Way to Get an Apartment in Thessaloniki

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Macedonians almost never use the services of the real estate agents in Thessaloniki fearing that it may cause an inconvenience because of the relations between the two countries, reports Telegraf.mk.

The crisis in Greece and the lowered prices of the real estate properties have increased the interest among the Macedonian citizens to use Bulgarian agencies as intermediaries to buy an apartment at a seaside. Thessaloniki coast has always been the first choice. Apartments’ prices in Thessaloniki vary from 300 to 500 Euros per square meter.

To put it straightforwardly, it is not about areas in the city center, but the residential areas in the outskirts. But, as those who have already purchased property say, it is the fact that they are by the sea which really matters. The new "Macedonian" suburb in Thessaloniki, in which every second license plates especially during summer, is from Skopje is Perea located in the southern part of the city, close to the airport. This neighborhood is 15 km away from the city center and it takes 40 minutes' drive to the top resorts in Halkidiki.



- We got the apartment for the price of 300 Euros per square meter, and it’s almost 50 square meters. Although it is an old apartment that needs renovation, this is really cheap if  the prices of the real estate in Macedonia have been considered. The previous owners were aware that they were selling for a very low price. However, they might not have been in situation to pay for its maintenance due to the high taxes which have been introduced – says a lady from Skopje who recently bought an apartment in Thessaloniki.

Most of Macedonian citizens who have bought a property in Greece have Bulgarian passports as thus all procedures could be completed much quicker. 

In Skopje, there are several agents who act as intermediaries of Bulgarian firms through which it is much easier to buy an apartment in Greece as both countries are members of the EU. The Agency charges about 5 percent of the value of the apartment and additional 5 percent for notary services. Overall, the administrative costs to get an apartment in Greece are around 1,000 Euros.

Macedonians almost never use the services of the real estate agencies from Thessaloniki as they fear that may have problems due to the relations between the both countries. The agency “Liberta” Thessaloniki says the interest about apartments has been increased, but they have had no customers from Skopje.

- Most of our clients are nationals of Romania and the United Kingdom. The demand has especially increased in the recent months. The prices vary, ranging from 500 Euros for the distant parts of the city, while the central area keeps the prices up and they reach several thousand Euros per square meter – say the representatives from Agency for Telegraf.mk.

Two years ago Greece allowed the citizens who are not part of the Union to buy real estate in the country, but for them the procedure is more complicated. The sale transaction must be made through a bank, which is possible to require a document related to the origin of the money.

In addition, buying property in Greece has another side as well. It is the high tax rates. As one of the measures to overcome the financial crisis Greece has introduced new property taxes that have forced many to sell real estate. The tax for luxurious life provides taxation to all additional houses, houses with swimming pools, yachts, jewelry, cars ... For comparison, owners of the apartments will have to allocate more money for taxes than the money that will be taken for an annual rent if they decide to rent their property. These taxes range from 10 to 20 percents. Therefore, many Greeks have been forced to sell their properties because the costs have risen for several times. And if before, tax avoidance have been "National sport", for many Greeks controls and penalties are now much tougher. Greek authorities estimate that by the tax on luxury life they will succeed to cash around 130 million Euros in the state budget.

- See more at: http://www.independent.mk/articles/8475/Macedonians+Love+the+Seaside+Bulgarian+Passport+as+a+Way+to+Get+an+Apartment+in+Thessaloniki#sthash.LRBDf95V.dpuf

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