Santorini - Sentoni - Schinoussa

Nestled on the northern tip of the Greek island of Santorini, Oia is a picturesque village renowned for its stunning sunsets and whitewashed architecture. With a rich history that dates back to ancient times, the town is shaped by its strategic position on the Aegean Sea, having once been a hub for maritime trade. Oia boasts remarkable historical sites, such as its 19th-century castle ruins and charming blue-domed churches. Surrounded by dramatic cliffs and iconic caldera views, Oia offers a breathtaking backdrop for those seeking a luxury lifestyle.

The Luxury Property Market in Oia

The exclusive property market in Oia remains strong, driven by high demand for luxury homes, especially those with panoramic sea views. Due to its limited geographical space and the desire for authentic Santorini architecture, the supply of luxury homes in Oia is consistently outpaced by demand. The stable political and economic situation in Greece, coupled with Oia's enduring appeal, makes real estate investment in this area particularly attractive.

Real Estate Costs and Taxes

When purchasing a luxury home in Oia, buyers should consider additional costs beyond the property's price. The average real estate commission is typically shared between buyer and seller, with each paying around 2-2.5%. Additional expenses include a transfer tax, which is approximately 3% of the property value, as well as notary and legal fees which can add another 1-2%. Greece does impose a capital gains tax on the sale of a vacation home; however, properties that are a seller's primary residence are often exempt from this tax under specific conditions. Corporate tax on profits in Greece stands at 24%, while income tax for residents varies based on earnings. The wealth tax on ownership is not specifically demarcated as a separate tax in Greece.

Financing Luxury Homes in Oia

Potential buyers interested in acquiring luxury properties in Oia typically find that Greek banks require a substantial down payment, often ranging from 20-40% of the property's value. The mortgage financing available is usually capped at 60-80% of the property's purchase price, based on the buyer's financial profile and creditworthiness.

Prime Locations and Accessibility

In Oia, the most prestigious residential areas include settlements near the volcano rim, commanding breathtaking views of the caldera and distant islands. Oia is approximately 11 kilometers from the bustling town of Fira, which provides residents with additional amenities. The nearest airports serving national and international flights are Santorini (Thira) National Airport, located about 23 kilometers from Oia. Access to Oia is mainly by road, with regular bus and taxi services linking to Fira and other parts of the island.

Lifestyle and Amenities

Oia thrives as a haven for luxury lifestyles, featuring high-end shops, opulent hotels like Canaves Oia and Katikies Hotel, and renowned dining establishments such as Ambrosia and Roka. The nightlife is understated yet sophisticated, with stylish bars offering a serene ambiance. Outdoor enthusiasts can explore activities such as sailing, hiking along the caldera trails, and diving in the azure waters surrounding Santorini. Although Oia doesn't host large institutions, it relies on the educational facilities present in Santorini, which offer a range of primary and secondary schooling.

Cultural and Health Infrastructure

Oia is home to artistic landmarks like the Maritime Museum, highlighting the village's historical seafaring past. Residents also enjoy proximity to cultural events and festivals that celebrate Santorini's rich traditions annually. For medical needs, residents can access the health facilities in Fira, which include clinics and a regional hospital. Public infrastructure in Oia supports a quality standard of living with reliable utilities and essential services to meet the daily needs of its residents.