Corfu

Corfu is a lush green island off the coast of Greece in the Ionian Sea, close to both Albanian and Italy, rich in history, culture and unique architecture. The Greek Island has been heavily influenced by Venetian, French and English cultures through its fascinating past, making it a charming and beautiful destination to spend time in.

There is a concentration of high-end homes in the North East of the Island, although prime villas are available all around the coast. Premium areas include; Nissaki, Agni, Kalami, San Stefano, Avlaki and most famously, Kassiopi. The North East coast is striking with its dramatic coastline, beaches and is also home to the highest mountain on Corfu Island, Mount Pantokrator.

Nearby, in the Barbati area there are several modern seaside developments. Barbati beach has a Blue Flag for clean waters. In fact, the water is clear around Corfu generally, making it a popular Greek island for snorkelling.

There are renovated family homes inland, village property and projects all over the island. Our partners have a grading system for listings needing work. Lock up leave searches may suit low-rise apartments, often ex-tourist property close to the beach.

The most densely populated area on the island is Corfu town. Here you find beautiful venetian properties, cosy hidden passageways, excellent restaurants, bars and shops, many selling produce made or grown on the island.

The South East coast offers shallower seas and sheltered beaches, popular with families. To the West you find resorts and dramatic coastal scenery where hillsides meet the coast. On the north west of the island the shallower waters make it popular for families with younger children. To the South West the sandy beaches stretch out with some great spots for beach lovers.

Property is more expensive here than on the mainland, but much more affordable than other islands like Mykonos or Santorini. Restrictions on development have maintained the charm of many traditional villages and there is a slower pace of life to enjoy. Around 75% of Greek nationals own their property. EU nationals and residents have freedom to buy and locate, but third country nationals, including the UK, can face restrictions in some areas and need to apply to the authorities.

For the most part the buying process is straightforward and foreigners looking to relocate have the opportunity to take advantage of the Golden Visa residency scheme providing opportunity for five year residency (which is renewable) with property investment from €250,000.

Alternatively, for the financial independent, including retirees, there is the opportunity to apply for a long stay visa, followed by a Financially Independent Person Permit that is valid for two years. Contact the Consulate for visa information.

Otherwise, third country nationals are free to buy second homes and enjoy them for up to 90 days out of any 180, in line with Schengen visa rules. Property for rental needs to have an EOT license from the Greek National Tourist Office. There are some conditions so this is something to check in advance with the licensed estate agent and lawyer, if a condition of purchase. Non-residents are liable for tax on any income earned in Corfu. Inheritance Tax and Capital Gains tax apply, although there is no Wealth tax.

Property purchase in Corfu can take as little as eight weeks, so it is advisable to be organised in advance and have your lawyer appointed from the earliest stages, alongside your estate agent and your foreign currency specialist.

Three legal professionals are involved in the buying process, your appointed lawyer, ideally English-speaking with property experience, the public notary and the Registrar. A technical survey is advised.

Allow at least 10% on top of buying costs. It is normal for an estate agent to split fees between buyer and seller. There are annual taxes and charges to consider too. A Greek Tax number (AFM) is a legal requirement to buy property and a bank account is advisable. Getting a Greek mortgage is difficult for non-residents.

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