How to sell commercial property in Greece: price, documents, process

1. Investor or occupier

Commercial property has two kinds of buyer, and each looks at it differently.

• The investor buys income.
  They care about the rent, the tenant, the remaining lease term and the yield.
• The occupier buys space for their own business.
  They care about location, layout, permits and when they can move in.

Knowing from the start who you are selling to changes the price, the presentation and where the property is marketed.

2. What sets the price

• Lease and tenant.
  Rent level, remaining term, tenant quality.
• Yield.
  Annual net rent as a percentage of the price.
  It is the first number an investor looks at.
• Location.
  For shops, footfall and frontage.
  For industrial units and warehouses, road access, clear height and loading docks.
• Use and permits.
  What may operate in the property, and whether permits are in order.
• Building condition.
  Maintenance, energy rating, capital expenditure needs.

The right price comes from actual transactions and actual rents in the area, not from asking prices in listings.

3. Leased or vacant

A leased property is sold with its lease: the buyer becomes the new landlord and the lease continues (Article 614 of the Greek Civil Code).

For an investor, a good tenant on a long lease adds value.
For an occupier, a vacant property is usually more attractive.
It is worth weighing this before the property goes to market.

4. The documents

All the documents of any sale apply (title, land registry, engineer's certificate, ENFIA, tax clearance), as described in our guide to buying and selling property.
A commercial property may also need:

• Lease agreements and evidence of rent payments.
• Electronic Building Identity and Energy Performance Certificate.
• Operating permits or notifications and fire safety, especially for industrial units and accommodation.
• For tourist accommodation: the MHTE or AMA registration number, and operating figures (occupancy, revenue by season).
• Encumbrances, mortgages and pre-notations, if any.

5. Property or company

When the property belongs to a company, either the property itself or the company that owns it can be sold.
The two routes have different tax and legal consequences.
Take advice from an accountant and a lawyer before discussing price.

6. The process to the contract

1. Valuation.
   A price based on transactions, rents and yield.
2. Package.
   A professional listing and, for larger properties, an information memorandum with the financials.
3. Marketing.
   XE, Spitogatos, Indomio, and direct outreach to investors and businesses looking for space.
4. Confidentiality.
   Sensitive details, such as tenants and financials, are shared only under a non-disclosure agreement (NDA).
5. Offers and due diligence.
   The buyer checks documents and figures, and terms are agreed.
6. Preliminary agreement and contract before the notary.