• The hotels' sale prices do not include attached plots that might be on sale.
• The mentioned yield and occupancy are indicative and of approximate value.
• The mentioned tourist season, is the months of operation declared by each hotel owner. If you wish to be informed for the tourist season of each region of Greece, based on the results of the National Statistic Agency, Please click here for more details click here

Types of accommodation

Most tourist lodging establishments have been recently renovated and upgraded, thus boasting state-of-the-art facilities. These establishments are licensed by the Greek National Tourist Organisation (G.N.T.O.) and fall in the following categories:

• Hotels (ordinary hotels, traditional guesthouses, agrotourist lodgings, etc.).
• Rooms to let
• Apartments to let
• Self-catering units (tourist residences and villas)
• Campsites
• Youth hostels

Classification

Hotels, as well as rooms and apartments to let, are subject to a rating system determined by the Greek National Tourist Organisation. In particular, their classification is based on:

• Class designation (old rating system): Lux, A, B, C, D, E
• Star ratings (new rating system): 5*****, 4****, 3***, 2**, 1*
• Key ratings, are usually for small hotels which do not provide the services of the star rating hotels. The rating is: 1 Key, 2 Keys, 3 Keys, 4 Keys

In terms of technical specifications, it should be noted that class L (Deluxe) hotels correspond to 5*****, A to 4****, B to 3***, C to 2**, and D and E to 1*.

«INCENTIVES FOR PRIVATE INVESTMENTS FOR ECONOMIC DEVELOPMENT & REGIONAL CONVERSION »

For investments effected in Tourist Industry the Investments Incentive Law provides Government Financial Support in many sectors as, indicatively, State Grants from 20% to 40% and under certain conditions up to 60%. The percentage of the State Grant depends on the geographical area the investment is effected. The State contributes an amount which equals to a certain part of the investment/investment plan.

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Building Capacity for Tourist Facilities located beyond city limits

1. BUILDING RATIO

The building capacity for tourist facilities (hotels) is specified as follows:

a) The building ratio for plots of up to 50,000 m2 is 0.2

For example: on a plot of 40,000 m2 × 0.2 (building ratio) = Permitted building area of 8,000 m2

b) The building ratio for plots of up to 100,000 m2 is: 0.2 for the first 50,000 m2 and 0.15 for the remaining 50,000 m2

For example: on a plot of 80,000 m2 the permitted building area is 14,500 m2

50,000 m2 plot × 0.2 (building ratio) = Permitted building area 10,000 m2

30,000 ́2 plot × 0.15 (building ratio) = permitted building area 4,500 m2

c) For plots larger than 100,000 m2 the building ratio is the same as in case b for the first 100,000 m2 and for the remaining m2 is 0.10

For example: on a plot of 180,000 m2 the permitted building area is 25,500 m2

50,000 m2 plot × 0.2 (building ratio) = permitted building area 10,000 m2

50,000 m2 plot × 0.15 (building ratio) = permitted building area 7,500 m2

80,000 m2 plot × 0.10 (building ratio) = permitted building area 8,000 m2

2. COVERAGE RATIO

The maximum coverage ratio of a plot is 20%

For example: on a plot which is 180,000 m2, the maximum permitted building area for the ground floor is 25,500 m2. That is:

180,000 m2 plot × 20% coverage ratio = 36,000 m2 This would be the maximum permitted building area for the ground floor. But, due to the fact that the maximum permitted building area based on the building ratio is 25,500 m2 (paragraph 1c), the permitted building area for the ground floor can not exceed the limit of 25,500 m2

If the construction company builds less than 25,500 m2 in the ground floor, the rest can be used to build other floors

3. BUILDING HEIGHT

The maximum permitted building height is 10.50 metres under certain conditions.

4. SPECIAL ARRANGEMENTS AND LIMITATIONS

The maximum permitted building area is 4,000 m2. One can exceed the maximum permitted building area of 4,000 m2 on the condition that a land concession will be made to the municipality without claiming any compensation, as follows:

a) For building up to 4,000 m2 no land concession must be made.

b) For building from 4,000 m2 to 10,000 m2 the land concession is equal to the built area which exceeds the 4,000 m2 limit.

For example: We wish to build 8,000 m2. The land concession to the municipality will be 4,000 m2

c) For building from 10,000 m2 to 17,500 m2 the land concession for the first 10,000 m2 is the same as in the previous case (paragraph 4b) and for the remaining m2, the land concession is equal to the built area which exceeds the 10,000 m2 limit plus 50%

For example: We wish to build 17,500 m2. The land concession to the municipality will be 17,250 m2

For the first 10,000 ́2 built, the land concession will be 6,000 m2

For the remaining 7,500 m2 built, the land concession will be 11,250 m2

d) For building larger than 17,500 m2, the land concession for the first 17,500 m2 is the same as in the previous case (paragraph 4c) and for the remaining m2, the land concession is equal to the double of the built area which exceeds the limit of 17,500 m2 plus 50%

For example: We wish to build 25,000 m2. The land concession will be 39,750 m2

For the first 17,500 m2 built, the land concession will be 17,250 m2

For the remaining 7,500 m2 built, the land concession will be 22,500 m2

e) The building ratio and the coverage ratio are calculated for the whole plot, prior to the land concession to the municipality. Under no circumstances is the sale of the plot acquired by the municipality permitted.

i) If the owner wishes, he can deposit an amount of money to the municipality instead of making a land concession. By doing this, the owner withholds the particular piece of land.

f) Moreover, the building ratio for special constructions can be raised.