Ermioni, a picturesque town in the Peloponnese peninsula of Greece, boasts a rich history dating back to ancient times. It was a significant center during the classical period, known for its contribution to the maritime power of the region. Renowned historical sights such as the ruins of the Temple of Hera and the ancient theater of Epidaurus are easily accessible. Geographically, Ermioni is nestled along the Argolic Gulf, offering stunning coastal views and a serene atmosphere.
Exclusive Property Market in Ermioni
The current exclusive property market in Ermioni is robust, driven by both domestic and international buyers seeking luxury homes. There is a higher demand for luxury homes and apartments than the available supply, making it a competitive market. The political and economic situation in Ermioni, and Greece in general, remains stable, ensuring a secure investment environment.
Cost Considerations for Buyers and Sellers
When buying a luxury home in Ermioni, buyers typically pay an average real estate commission of 2-3% of the purchase price. Sellers, on the other hand, also pay a commission which usually ranges from 2-4%. Additional costs include a transfer tax of approximately 3%, notary fees around 1.5%, and potential legal and construction inspection fees. It's important to note that there is no wealth tax on private property in Ermioni, but there are other applicable taxes.
Taxation on Property Transactions
If you sell a privately owned home used as your main residence, the profit is generally tax-exempt. However, profits from the sale of a second or vacation home are subject to capital gains tax. For registered companies, the corporate tax on profits is 24%. Income tax for registered residents varies but often falls between 22-45%, depending on income levels.
Mortgage and Financing Options
To secure a mortgage for buying a house in Ermioni, financial institutions typically require a ratio of 20-30% own capital to 70-80% borrowed capital. Buyers can usually secure up to 70-80% of the property’s purchase price, depending on their financial situation and the property's value.
Sought-After Residential Areas
The most prestigious residential areas in Ermioni include the hillside regions offering panoramic sea views, and the waterfront regions near Porto Heli, a neighboring town known for its opulence and exclusivity.
Accessibility and Transportation
Ermioni is easily accessible by road with well-maintained highways connecting it to major cities. The nearest big city is Athens, located about 2.5 hours away by car. For air travel, the Athens International Airport is the closest option, providing both national and international flights.
Education and Health Facilities
While Ermioni itself has quality schools, further educational opportunities, including universities, are more concentrated in Athens. Essential healthcare needs are well catered for by local clinics, with larger hospital facilities nearby.
Scenic Environment and Climate
Ermioni's environment is characterized by beautiful coastlines, pristine waters, and lush landscapes. The Mediterranean climate ensures warm, dry summers and mild, wet winters, making it a year-round destination.
Sports, Outdoor Activities, and Luxury Shopping
Ermioni offers a variety of sports and outdoor activities including sailing, diving, hiking, and more. Luxury lifestyle shops are available, providing high-end products and exclusive services.
Exquisite Dining and Entertainment
The area boasts high-quality hotels such as Amanzoe and renowned restaurants like Mourayio. While Ermioni doesn't have a large nightlife scene, nearby Porto Heli offers upscale entertainment options.
Cultural and Historical Attractions
Annual events include cultural festivals and sporting events. Notable nearby cultural sites include the Bisti archaeological site and the Ermioni Folklore Museum. The region’s infrastructure is robust, with excellent amenities available to support a comfortable luxury lifestyle.
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