When buying or building property in Corfu, the costs involved can vary significantly depending on whether you’re purchasing a vacation home, a luxury villa, or an investment property. Understanding the costs associated with each phase of the process is crucial to creating a comprehensive budget and avoiding unexpected expenses.

This cost guide by phase breaks down the typical expenses from the initial design phase all the way to project completion. Whether you’re renovating an existing property or building from scratch, this guide will help you navigate Corfu’s real estate and architectural costs effectively.

1. Phase 1: Pre-Purchase Costs and Planning

1.1. Property Search and Legal Due Diligence

Before committing to a property, you must go through the search and legal due diligence process. This includes hiring real estate agents, lawyers, and other professionals to ensure the property’s title is clear and that there are no legal encumbrances.

• Real Estate Agent Fees: Typically 1% to 3% of the purchase price.

• Legal Fees: 1% to 2% of the purchase price for reviewing property titles, contracts, and ensuring all legal requirements are met.

1.2. Survey and Property Inspection

If you’re purchasing an existing property, it’s essential to hire an inspector or surveyor to assess the property’s condition.

• Property Inspection: €300 to €500, depending on the size and complexity of the property.

• Surveyor Fees: €300 to €600 for detailed assessments of the land and structure.

1.3. Total Pre-Purchase Costs

• Real Estate Agent + Lawyer Fees: €3,000 to €12,000 (depending on property value)

• Inspection + Survey: €600 to €1,100

2. Phase 2: Design and Architecture

2.1. Hiring an Architect and Designer

Once you’ve purchased your property or decided to build, hiring a local architect is essential for developing your design. The architect will create plans that comply with Corfu’s building codes and zoning laws.

• Architect Fees: Typically 6% to 10% of the total construction cost for new builds or significant renovations.

• Interior Designer Fees (if applicable): €1,000 to €5,000 for interior design and finishes.

2.2. Planning and Permit Costs

For any major construction or renovation project in Corfu, you’ll need to secure the proper building permits and approvals from local authorities.

• Building Permits: Typically €1,000 to €3,000, depending on the scale of the project.

• Environmental Impact Assessments (if necessary): €500 to €2,000 depending on location and project scope.

2.3. Total Design and Planning Costs

• Architect + Designer Fees: €5,000 to €25,000 (depending on project size and complexity)

• Permits and Documentation: €1,500 to €5,000

3. Phase 3: Construction and Renovation

3.1. Building or Renovating Costs

Construction or renovation is where the largest portion of your budget will be allocated. This phase includes costs for materials, labor, and the actual construction of the property.

• Construction Costs: €1,000 to €2,500 per square meter, depending on the quality of materials and complexity of the design.

• Labor Costs: €30 to €50 per hour for general construction labor.

• Materials: High-quality materials, especially those suited to Corfu’s coastal environment, can increase costs, particularly for stone, wood, and glass.

3.2. Specialized Costs for Coastal Homes

For homes near the coast, additional considerations are required due to salt air, humidity, and potential erosion. Properties near the coast will need more durable materials and waterproofing solutions.

• Coastal Construction Costs: An additional 10-20% on materials for homes close to the sea due to the need for durable, corrosion-resistant materials.

3.3. Utilities and Infrastructure

Depending on the location, you may need to pay for utility connections, including water, electricity, gas, and sewage.

• Utility Connections: €1,000 to €5,000 depending on the distance from the nearest connection.

• Septic Systems: For rural properties, installing a septic tank can cost between €3,000 and €7,000.

3.4. Total Construction and Renovation Costs

• Building or Renovation: €100,000 to €500,000+ (depending on size and location)

• Labor + Materials: €50,000 to €200,000

• Utility Connections: €1,000 to €5,000

4. Phase 4: Finishing and Furnishing

4.1. Final Touches

Once the structural work is completed, the next step is to add finishes such as flooring, paint, fixtures, and lighting.

• Interior Finishing Costs: €10,000 to €50,000 depending on the quality of materials chosen (marble, tiles, custom cabinetry).

• Landscaping: €2,000 to €10,000 for garden design and planting.

4.2. Furnishing and Appliances

If you’re planning to furnish the property for vacation rentals or long-term living, furniture and appliances should be factored into the budget.

• Furniture and Appliances: €5,000 to €20,000 for basic furnishing of a 2-3 bedroom home.

4.3. Total Finishing and Furnishing Costs

• Interior Finishing: €10,000 to €50,000

• Furnishing: €5,000 to €20,000

5. Phase 5: Final Inspections and Handover

5.1. Final Inspections

Before taking possession of your property, a final inspection is necessary to ensure that all construction work meets the required building codes and safety standards.

• Final Inspection Costs: Typically €500 to €1,000.

5.2. Handover of Property

Once the property passes inspection, the keys are handed over. You can now move in or prepare the property for rental or sale.

Why It’s Important:
The final inspection ensures that the property is safe, legally compliant, and ready for occupancy.

6. Conclusion: Budgeting for Your Corfu Property Project

Understanding the costs involved in each phase of your property project in Corfu is essential for successful planning and budgeting. From pre-purchase costs to construction, renovation, and finishing, knowing what to expect at each stage will help you avoid surprises and stay within your budget.

For expert assistance in navigating the Corfu real estate market, securing the right architect, and managing your construction project, visit Chase Real Estate Corfu.