Buying a house on Hydra or anywhere else in Greece involves a number of costs on top of the agreed selling price of the property you are buying. The Greek Government, represented by a notary, calculates the objective value of the property.

On Hydra the objective value is invariably lower than the agreed selling price.

You will pay approximately 11% of the objective value as purchase tax.

The first thing you have to understand when you buy property on Hydra is that there are in effect two prices. There is the asking price, the amount that the market dictates and then there is the objective value.

The objective value is the amount that the government calculates that a property is worth for tax purposes. It is known as the objective value, real or contract price.