Abstract: Planning to buy a catamaran in Greece? Don’t just focus on the price.Based on firsthand experiences gathered by overseas buyers, this article reveals the pitfalls of port inspections, blind spots in insurance coverage, and risks associated with the ownership of pre-owned boats. It includes the latest market data comparisons and frequently asked questions to help you avoid losses amounting to tens of thousands of euros.
Author’s Note:
From 2018 to 2023, the author worked as a yacht broker and private buyer’s advisor in Corfu, Greece, and at the Port of Piraeus in Athens, handling transactions for over 50 pre-owned catamarans. The pain points discussed in this article are all derived from analyses of real-life cases, not theoretical deductions. The market data cited in the article is compiled from the Greek Yacht Brokers Association’s 2024 Annual Report and the Zizymos Marine used yacht transaction database.
Buying a boat.
It’s really hard.
Especially in Greece.
The sunshine is beautiful.
The sea is blue.
But the rocks beneath the water are even harder.
I’ve met so many people.
Carrying checkbooks.
Flying to Athens full of excitement.
Only to return home in disarray.
Why?
Because they didn’t understand the “rules” here.
Not the law.
It’s human nature.
It’s the cunning of the old shipowner.
It’s the agent’s silence.
It’s the “close enough” attitude of the brokers.
Today, I won’t preach grand principles.
I’ll just share hard-won lessons.
If you’re planning to buy a catamaran in Greece,
Please stop.
Read this post.
It might save you 50,000 euros.
Don’t trust the “it looks good”
First stop.
Usually Corfu.
Or Lefkada.
The broker will take you to see three boats.
Two of them are nothing but problems.
The third one is a “clearance deal.”
Keep that in mind.
The Greek used catamaran market.
It’s full of overpriced listings.
Especially for vessels built before 2015.
That was after the financial crisis.
A large number of owners were selling off their boats.
Many of these boats were “sold with hidden defects.”
I once looked at a Lagoon 42.
It looked great on the outside.
The paint was fresh.
But the interior structure?
Rotten.
Severe corrosion below the waterline.
The owner said, “We just repainted it.”
I laughed.
That’s just a cover-up.
A cover-up for the leak.
Practical Advice:
Don’t just look at the deck and interior.
Bring along an independent surveyor.
Don’t listen to the broker’s recommendations.
Find one who charges a bit more but isn’t afraid to speak their mind.
Survey fee?
About 500–800 euros.
This is money you absolutely must spend.
Otherwise, what you’re buying isn’t a boat.
It’s a ticking time bomb.
Hidden Costs: Greece’s “Taxes”
Buying a car?
Pay taxes.
Buying a boat?
Pay even more.
Greece’s yacht tax is complicated.
And it changes frequently.
New regulations for 2024.
Higher annual taxes will be imposed on older boats.
Especially those over 20 years old.
Many first-time buyers overlook this.
They assume that buying a boat will allow them to enjoy the Mediterranean lifestyle at a low cost.
That’s not the case.
Annual maintenance costs.
Docking fees.
And those pesky taxes.
They can amount to as much as 2–3% of the boat’s purchase price.
Let’s do the math.
Let’s say you buy a catamaran worth 150,000 euros.
Annual taxes and mooring fees
That easily tops 4,000 euros.
Over three years,
12,000 euros.
Gone.
That’s why many “dreamers” end up having to sell their boats.
At a loss.
Title Traps: The Paperwork Is Even More of a Mess Than the Boat
Buying a boat in Greece.
The biggest fear isn’t that the boat is in bad shape.
It’s the paperwork.
Unclear title.
Mortgages that haven’t been discharged.
Dock fees owed by the previous owner.
All of these issues will be passed on to the new owner.
I once met a British buyer.
He bought a Fountaine Pajot.
The paperwork was completed.
On the first day of sailing,
Customs stopped him.
This was because the previous owner owed ten years’ worth of harbor fees.
Although he could legally appeal,
But the process?
Long.
Painful.
Lawyer’s fees?
More expensive than ship repairs.
Guide to Avoiding Pitfalls:
1. Title Search: Request that the real estate agent provide proof of the complete chain of title.
2. Specify in the contract that during the debt settlement process, all debts incurred by previous owners must be assumed by the seller, and a security deposit (escrow) must be deducted from the final payment.
3. Choose the registration location carefully. Consider registering the boat in Cyprus or another country with more transparent regulations, rather than directly under the Greek flag—unless you reside there long-term and are well-versed in tax matters.
Why a catamaran?
Many people ask this.
Why choose a catamaran?
Stability.
Wide.
Spacious.
Great for families.
Great for long voyages.
But in Greece,
There’s another reason.
Shallow draft.
In Greek bays.
In many places, the water is too shallow.
Monohulls can’t get in.
Catamarans can.
You can anchor in those secluded little coves.
Away from the tourists.
Enjoy the sunset all to yourself.
This kind of freedom
is something a monohull simply can’t offer.
But don’t get too excited just yet.
Anchoring techniques for catamarans.
are even more difficult.
Because there are two hulls.
The forces are distributed unevenly.
It’s easy to scrape against rocks on the seabed.
Common mistakes made by beginners.
When dropping anchor.
Neither anchor fluke can get a firm grip.
The result is
Drifting.
Crashing into a reef.
True Story: My Friend’s “Tragic” Tale
My friend Tom.
An Australian.
He wanted to buy a cheap used catamaran.
He found one online.
The price was extremely low.
Only 60% of the market price.
He was tempted.
He flew to Greece.
He inspected the boat.
Thought it was okay.
I didn’t hire a surveyor.
I thought that would be a “waste of money.”
Signed the contract.
I paid a deposit.
A month later.
We set sail for Mykonos.
The engine broke down.
We were stranded in the middle of the sea.
Tugboat fees.
3,000 euros.
Engine repair.
5,000 euros.
To make matters worse.
A crack was found in the hull.
Repair costs.
Unknown.
Tom later told me,
“If I’d spent 500 euros to hire a surveyor back then,
I could have saved those 10,000 euros.
And I would have kept my good mood.”
Summary: How to Make a Safe Purchase?
1. In addition to the boat’s purchase price, set aside 15 percent of the total amount in a dedicated repair fund.
2. Conduct a separate vessel inspection, ensuring that the underwater inspection—specifically the UWID procedure—is carried out without any oversights.
3. Document review: Hire a local lawyer to verify title.
4. Finalize the insurance terms before purchase, confirm the coverage, and secure the insurance first.
5. Sea trials: Do not limit trials to calm waters.
Go to areas with some waves.
Test the boat’s handling.
Buy the boat.
It’s a marathon.
Not a 100-meter dash.
Slow down.
Take your time.
Then sign.
Frequently Asked Questions (Q&A)
Q: When buying a boat in Greece, do I have to use a local broker?
A: It’s best to do so.
They know the ins and outs of the market.
They know which boat owners are eager to sell.
Plus, when there’s a language barrier,
They’ll be your voice.
But don’t believe everything they say.
Stay skeptical.
Q: What is the average lifespan of a used catamaran?
A: With good maintenance.
But the Greek sun…
The UV rays are intense.
Fiberglass ages easily.
The resin layer should be inspected every five years.
Don’t cut corners.
Q: Can I sail to other islands on my own?
A: Yes.
As long as you have a license.
Greece recognizes international yacht licenses (such as RYA).
But remember to get insurance.
Otherwise, if something goes wrong,
You’ll have to pay out of your own pocket.
That would be a real blow.
Q: Are current fuel prices having a significant impact on Greek boat owners?
A: Very much so.
Diesel prices are high in Europe.
Catamarans are usually equipped with two engines.
Their fuel consumption is twice that of a monohull.
Do the math.
Before a long voyage.
Check your fuel level first.
Then check your bank balance.
Q: Do you have any recommended ship surveyors I can contact?
A: No.
I can’t recommend any specific individuals.
But that’s exactly the point.
You’ll have to look them up yourself.
Read reviews.
Check their reputation.
Find someone you can communicate with easily.
Not necessarily the cheapest one.
Q: Do I need to register the boat immediately after purchasing it?
A: Yes.
Otherwise, you won’t be able to legally moor the boat.
Port regulations in Greece are very strict.
Mooring without a permit.
Fines.
Even impoundment.
Don’t take any chances.