Nr. 11 WWW.SKIATHOSPROPERTY.COM October 2008 October 2008 L. Baldry Real Estate Papadiamanti street Skiathos, Greece T +30-24270-29288 F +30-24270-21803 Welcome to the October 2008 issue of our Skiathos Property Newsletter. It seems like the summer 2008 was been busier than ever on Skiathos and we have welcomed a wide range of nationalities to our island this year. This summer s huge box office success story is, of course, Mamma Mia! The Movie which was partly filmed here in Skiathos last year. The movie is the adaptation of the West End stage musical, based upon the songs of Abba. The film is currently the record-holder for a movie musical with the biggest box office sales in history at its opening weekend. And already it feels like the island is attracting more & more attention. We think the success of the film will only properly impact here next year with an increase in tourism and investment. So, if you have been thinking about a good investment opportunity in Skiathos, now is most definitely the time to contact us. In this issue, on pages 5 & 6 we give you the answers to some of our most frequently asked questions about buying property here. Also in this issue we feature a small selection of properties, land and business that we currently have for sale. However, for our full portfolio please visit our website www.skiathosproperty.com where you will find properties to suit all budgets. Please feel free to contact us if anything interests you. And, if you are coming to Skiathos, be sure to let us know in advance by emailing us at info@skiathosproperty.com telling us your property requirements and the dates when you are coming. We look forward to welcoming you. BEAUTIFUL, TRADITIONAL ONE BEDROOMED TOWNHOUSE Ref: 685 Beautiful townhouse in Aghia Triada, traditionally renovated to a very high standard. This cute little one bedroomed townhouse is on two levels and is connected by an outside staircase. From the ground floor there is an entrance door to the hallway, lounge/kitchen and bathroom. The open plan lounge area has one wall of original stone, an open fireplace and wooden beamed ceiling. The small yet well planned kitchen area is fully fitted and has an electric cooker-hob. Off the hallway is the bathroom which is fully tiled and has shower, WC and hand-basin. Upstairs is a lovely terrace area and another entrance door leads to the bedroom. The bedroom is a good size has original stone walls. The house has air-conditioning & heating on both floors. This wonderful little house is perfect for a couple, viewing is highly recommended. Price: 130,000 Euros
RESIDENTIAL FOR SALE Page 2 PROPERTY SPOTLIGHT LUXURY VILLA AT KOLIOS Ref 670 PRICE: 2,200,000 EUROS Located at Kolios, on the south side of the island, just 5 km out of Skiathos Town and 5 minutes drive from several sandy beaches. The villa receives sun from morning until evening and is perfectly placed for glorious sunsets. From the villa you will be able to view your own yacht or boat at its mooring. A fabulous luxury 4 bedroomed villa, with breathtaking views over the sea. Large, (heated) swimming pool and large guesthouse. Designed and constructed to provide both independent and shared accommodation for up to 21 people. Optional yacht or boat mooring in view of villa. The residence, built in 2004, consists of two buildings: the main villa and a separate guest house. The main villa comprises of 4 bedrooms, 4 bathrooms, kitchen, large living room and guest WC. In front of the villa is a full length veranda with a covered pergola which gives a magnificent and breath taking view over the sea. At the lower level is the garage (for 2 cars), which also contains the laundry, heating system for swimming pool and the central heating installation. The residence is built on a plot of land of 4.000 square meters. The main villa on the ground floor has a large living room with an open fire place, kitchen, 2 bedrooms, 2 bathrooms, one with Jacuzzi shower, extra w.c. Top floor, 2 large bedrooms both with large balconies, 2 bathrooms. Master bedroom has a large ensuite bathroom with a very large veranda all looking out at the beautiful Mediterranean sea. The separate guesthouse is on 2 floors with 5 bedrooms. Ground floor level are 3 bedrooms, 1 bathroom and storage for central heating/water installation, top floor, 2 bedrooms, bathroom and fully equipped kitchen. The land has a beautiful garden designed in terraces, great lawns, pine trees, olive trees, citrus trees etc., and many varieties of Mediterranean plants. Other amenities of the property include central heating (independent for each room, and guesthouse), Boilers for hot water, drinking water (from own borehole, 120 m. deep, 7 m3 per hour), satellite dish for TV, telephone, ISDN -line, air-conditioning (every room), full landscape lighting. In guesthouse every room has own refrigerator.
Page 3 RESIDENTIAL FOR SALE LITTLE TOWN HOUSE IN PLAKES AREA Ref 565 This charming little town house is located in the lovely Plakes area, unspoilt to tourism and nice and quiet, yet very close to everything. It has a tiny courtyard, through which you enter the ground floor, where the bedroom and bathroom are located. A narrow wooden staircase leads up to the first floor where the living room and kitchen are located. It has a spacious balcony with partial view to the sea. There is also a little storage space, that one can enter through the courtyard. The house was recently renovated and is in a great condition. It is not suitable for more than 2 persons, but for a couple it would make a lovely holiday home. Price: 120,000 Euros TRADITIONAL CAPTAIN S TOWNHOUSE WITH COURTYARD Ref 415 Located in a quiet street, this large traditional Town House is one of the best in Skiathos Town. The house has been completely renovated to the highest standards and finish. The plot of land is 138 m2 and the house is 105 m2 on the ground floor and 90 m2 upstairs. There are 2 terraces, a large courtyard and a basement of 42 m2. The main house comprises of ground floor: living room, large kitchen, store room and bathroom; upstairs are 3 bedrooms and large bathroom. There is a wonderful upper terrace area where there are both sea and mountain views. There are also two guest studio apartments, each with their own bathroom. The house is centrally located for easy access to all the tavernas, bars & shops of the town and only 10 minutes walk to the nearest beach of Megali Ammos. Viewing of this lovely townhouse is highly recommended. Price: 350,000 Euros WELL MAINTAINED TOWNHOUSE Ref 639 This characteristic town house is located in a typical little island street, with all older houses, lots of flowers and a very warm atmosphere. The entrance leads to the hall that on the left side leads you into the open plan living room, with dining area and kitchen. In the living room there is an entrance to the basement, but it is hidden in a closet. Up the stairs is an open space that leads to two bedrooms and a balcony. the one bedroom opens up to the balcony, the other one has a window. There is a storage space next to the staircase. The house has a tiled roof and has been maintained very well. It is on walking distance of the beach, the medical centre and the centre of the town. it is about 10 minutes walking to the nearest bus station. Price: 190,000 Euros STYLISH APARTMENT AT ACHLADIES Ref 531 One of an established community of 8 apartments set in mature gardens with spectacular views over the sea and islands. Designed and built in 1989 by a local civil engineer to high modern structural standards. Achladias is only 3km from Skiathos town and the beautiful sandy beach with ferry boat into town is 1000 metres down the hill from the apartment together with bakery, supermarkets and tavernas. The apartment, which can sleep four people, comprises one large bedroom with fitted wardrobes, twin beds. French windows open onto a terrace which has a gate giving direct access to the garden. Upstairs there is a bathroom, fully fitted & equipped kitchen and sitting area. French windows lead to a large balcony and sun deck, with table and chairs, partly roofed and offering wonderful panoramic views. Price: 195,000 Euros
RESIDENTIAL FOR SALE Page 4 MAGNIFICENT VILLA WITH STUNNING VIEWS Ref 457 This is a magnificent, newly built villa with stunning views towards Skiathos Town and over the Aegean to Skopelos, Tsoungria and Evvia Islands. Set in its own private grounds above the Beach of Megali Ammos, this villa comprises of 3 floors with accommodation on each level. The ground floor comprises a large salon with a fireplace, a large fully fitted kitchen, a dining room a, bedroom, an extra reception room/study/office and a large bathroom. The upper floor comprises of a large salon, a small kitchen area, two bedrooms and a bathroom. The basement has a large studio with one bedroom and an open plan living room kitchen. The villa is suitable for three families and could comfortably sleep 10 people. The grounds are all terraced and there is ample room to add a large swimming pool. Price: 700,000 Euros VILLAS AT KALIVIA Ref 478 This is one of six newly built villas in a quiet area of Kalivia and just 7 minutes drive from Skiathos Town and the airport. The accommodation comprises of 3 bedrooms and an open plan living room and kitchen. All the rooms have extensive balconies with panoramic views out to sea. A basement is provided for private parking and there would be a possibility to make a separate studio also in this area. In this stage of construction, purchaser's special requests could be incorporated into the finishing details. A private swimming pool can also be provided for and would cost an extra 50,000 Euros. Price: 400,000 Euros VILLA JASMIN Ref 584 This is an exclusive, totally private and luxurious 3 bedroomed villa with pool. Situated at Pefkoraki (adjacent to Katsarou) approximately 10 minutes' drive from Skiathos Town. This beautiful villa has been finished to the highest standards. The villa is situated on 8000 square metres of land and is surrounded by olive trees. On the ground floor is the entrance hall with feature staircase, a spacious open-plan lounge / dining room area with traditional Greek fireplace, a large, fully fitted kitchen, cloakroom with WC & washbasin. A guest twin bedroom and en suite bathroom is also on the ground floor. On the first floor is a double guest bedroom and en suite bathroom, a large study area, and master bedroom suite with fitted wardrobes and a feature en suite bathroom. The basement area houses the central heating and hot water systems, the pool pumps and equipment, a generator, washing machine, tumble drier and chest freezer. There is also plenty of room here for a workshop if required. The property is being sold furnished. The villa has stunning views from the front down towards the Platanias valley and out to sea towards Evvia and the mainland. From the side elevation are views along the Pelion peninsula. Price: 600,000 Euros
Page 5 BUSINESSES & LAND FOR SALE OR RENT ARGENTO BAR Ref 624 This is a newly renovated bar business for sale. It comprises of 95 m2 internal area with a fully equipped bar and a separate fully equipped area for the DJ. Outside is a yard of 65 m2. There are two toilets and a store room of around 12 m2. The bar is fully stocked and works in both summer & winter seasons. The price for the business is 80,000 Euros which includes all the bar & DJ equipment and all the stock. The monthly rent is 600 Euros. There is an apartment above that could also be rented. It comprises of two bedrooms, a living room & kitchen, a bathroom and balconies at the front and back. It is for rent at 400 Euros per month. Price for Business: 80,000 Euros COMMERCIAL PREMISES IN OLD PORT Ref 646 Fantastic opportunity to buy commercial premises located in one of the busiest and most sought after areas of Skiathos town: the Old Port. The premises are currently leased for the next few years to an extremely successful, modern and stylish cafe bar. The rental generates a very good income. Floor area 34.5m2. For serious enquiries, please contact us for further details. Price for Premises: 600,000 Euros CAFÉ BAR Ref 664 Successful cafe-bar for sale in the very popular Old Harbour area. This area is very well visited as there are many cafes and bars in a row. This cafe bar works more or less the whole 24 hours around, but its most busy in the night time. It opens from the end of March until the end of October. The business is located in a rental building, and its rent is about 2200 euro per month. In the high season there are 6 staff working in split shifts. It is a perfectly healthy business that is for sale for family reasons, and because the owner wants to enter a new adventure. Price for Business: 250,000 SPARTACUS BAR Ref 644 One of the oldest bars in Skiathos is for sale: Spartacus bar. It is located in Politechneiou street, an area with many pubs and bars, attracting many English visitors, as well as Greeks. It has recently been renovated and freshly painted and decorated. The bar has potential, and can be very successful if directed by someone with a fresh look on the business. The business is for sale fully equipped, and can be bought at any time from now on. The building which the bar is located in is a rental place. The rent is 1000 Euros per month. The rental contract is for a minimum of 6 years. To work right, this bar needs about 3 staff. Price for Business: 55,000 Euros LAND AT PEFKORAKI Ref 638 This is a lovely plot of land (4,000 square metres) in a very quiet area called Pefkoraki situated high above the valley of Platanias. There are panoramic views around the valley and out to sea across to Evvia Island. This special spot remains cool in the summer and is one of the mosquitofree areas of Skiathos. Electricity and telephone lines go right to the plot. Price: 180,000 Euros LAND AT TROULOS Ref 650 This is a lovely plot of land located on a hillside above Troulos Bay with panoramic views out to sea. The land is all clear with well tended olive trees and a small building/store room which could possibly be used as a garage. The plot is of 6,834 m2 which allows for building permission of up to 256 m2 of building(s). There is a good concrete road to the land and electricity and telephone lines run along the road. It has its own water supply with a productive borehole. Price: 180,000 Euros
Page 6 Here we supply the answers to some frequently-asked questions about buying property in Skiathos. Can I, as a non Greek, buy property in Skiathos? Yes, anyone who has a valid passport and sufficient funds can buy property in Skiathos. Do I need to import money to Greece? You will always have to import sufficient money to cover the purchase of the property, the notary's fee, lawyer's fee, Records Office fee and the purchase tax. For non Greeks to purchase property in Greece, it will be necessary to open a bank account in Skiathos and acquire a Greek tax number. This is so you can import all necessary funds into Greece thus not incurring Greek income tax. To get a Greek tax number you will need to give a limited Power of Attorney to a Skiathos resident (we normally recommend an accountant) who will apply for it and represent you to the tax office. To open a bank account you will need your passport, an original telephone or electricity bill stating your home address, an official paper stating where you work and your job description (usually from your employer) and finally an official copy of your tax number or social security number or National Insurance number in your country of residence. It is would be best to have these documents with you when you come to view property, otherwise you will need to return to Skiathos solely to open a bank account. If you intend to live here for long periods (or retire here) you must import sufficient funds on a regular basis so that the tax man is happy that you are not earning money in Greece. If you are buying property in joint (or more) names, the bank account should be opened in both (or all of these) names. Do I need to be resident in Greece? No, unless you decide to live here on a more permanent basis. You will need to get a residence permit if you buy a car or motorbike in Greece. How long will it take to buy property? How long is a piece of string? A minimum of 2 months from the time a verbal agreement has been made between purchaser and vendor. This can stretch to several months if there are issues such as road access, unclear title to the property, etc. Will I need a lawyer? You are obliged by Greek law to have a lawyer as a witness to the signing of the contract. The fee is around 1.2% of the contract price of the property (not necessarily the actual amount you will be paying which will be more). Included in this will be a search through the public records to make sure that the property is free and clear of any debts, mortgages, and other potential problems. Do I need the services of a real estate agent? You would be well advised to use the services of a reputable agent. Who is reputable? Ask around...skiathos is a small island and it will become very quickly apparent who can be trusted and who not. An agent is there to protect your rights, to help make an agreement between purchaser and vendor (often involving translation as many Greeks do not speak another language and most purchasers Greek is not sufficient) and smooth the bureaucratic process. If he is good at his job, he will have earned his commission many times over. What percentage does an agent receive? Between 2 and 3% (including 13% VAT) of the actual purchase price. Usually 3% if you are a non Greek as extra paperwork and organization will then be involved.
Page 7 What extra expenses will I have? In total, anything between 10 & 13% of the actual purchase price. This includes purchase tax, notary's fee, lawyer's fee, Records Office fee and Real Estate agent s commission. Will I need an accountant? Yes, once you have acquired property, you will need to declare it to the tax authorities and you will have many difficulties if you do not use an accountant. As long as you can prove that you didn't earn the money to purchase the property in Greece, you will not be liable for income tax. (See above). Your tax declaration is made the year after the year you purchase your property. Can I build a house myself or do I need a builder? You will need the services of a civil engineer to make the plans and apply for building permission. Building permission can be fairly costly as the Greek Government is anxious to get its hands on as much money as possible. Whilst building, care must be taken to keep all receipts for materials and labour (to prove that VAT has been paid) and social insurance for the labour must also be paid. You would be well advised to take a reputable builder for this as otherwise you could end up in a nightmare of Greek bureaucracy. What are building costs? It depends very much on the location, difficulty of access of your site and whether you want standard materials, tiles, etc. or are prepared to pay (or import) top quality materials. A rough average (including building permission) is 1,400 Euros per square metre (approximately 10 square feet) for good quality, standard building materials. What yearly local taxes are due? It depends on the size and location of your building but the local taxes are very light and an average would be around 200 to 400 Euros per year. This also includes your TV and Radio license. Do I need a representative in Skiathos? If you are not here for much of the year or will be absent during the building of your villa or house, you would be advised to have someone in Skiathos who can look after your interests, keep an eye on construction work and pay bills as necessary. If you cannot be in Skiathos for the signing of the contract of sale, you will need to give a Power of Attorney to someone here to act for you. This can be your lawyer, the real estate agent or someone resident here who has your trust. This is a fairly simple document and can usually be drawn up by the notary within 24 hours. Our office is situated just 50 metres from the harbour at the bottom of Papadiamantis Street (the main street), on the first floor of the building that has the "Syraina" Antiques and Jewellery shop on the ground floor. Just go to the left around Syraina and you will see our sign and stairs leading to our office. You are very welcome to call in to see the large and varied selection of properties on our books, and have a free, no-obligation consultation.