EKKO=E.K.K.O. = Minimum Cost of Construction

When the engineer is preparing the Building License application he/she will calculate the Minimum Cost of Construction based on the size of your house.

This minimum cost is not calculated based on market values but certain tax coefficients.

The amount of the minimum cost is only for tax purposes. In other words it is the amount that the government demands to collect taxes on and more specifically V.A.T.

The developer assumes the responsibility of collecting all relevant receipts for services and purchased materials during the various construction stages which prove that the specific amounts were spent by yourselves for this specific building. In reality the construction of your house will cost at least twice as much than the amount mentioned in EKKO.

The Table of the Minimum Cost of Construction (EKKO) is calculated by analysing various jobs for excavations, foundations, frame etc. Threfore, the receipts collected will be categorised accordingly.