Greece – Property Taxes

Which taxes and fees must buyers pay when acquiring property in Greece?

Property buyers in Greece must pay either transfer tax or VAT, depending on the type of property being acquired. The same rules apply to both individuals and companies — the applicable tax and the rate at which it is charged are determined by the nature of the property itself. Understanding which tax will apply is therefore an essential first step for any prospective purchaser.

Property Transfer Tax (FMA)

As of 2025, the property transfer tax rate in Greece stands at 3% of either the property’s objective value or the declared sale price — whichever is the greater of the two. An additional 3% municipal surcharge is levied on top of that base tax, bringing the combined effective rate to approximately 3.09%. This is broadly comparable to land transfer taxes charged in certain Canadian provinces, and sits considerably below the stamp duty land tax rates that can apply to higher-value properties in the United Kingdom.

The calculation of property transfer tax in Greece follows a defined methodology. The tax base is the higher of two figures: the property’s objective value as determined by the Greek tax authorities, or the actual consideration stated in the sale contract. The objective value is derived from official tables maintained by the tax office, using parameters such as the property’s location, size, construction age, and other relevant characteristics. Where the objective value surpasses the agreed purchase price, the tax is computed on the objective value.

VAT on New Builds

VAT is chargeable only on newly constructed properties sold by property developers. The standard VAT rate is 24%, though this has been suspended on a temporary basis through to 31 December 2025. During the suspension period, eligible new-build properties fall under the 3.09% transfer tax regime instead. Anyone buying a newly constructed property should confirm its VAT status with their legal adviser before proceeding, as the suspension may not be extended once it expires.

Notary, Legal, and Registration Fees

Beyond transfer tax, purchasers face several additional mandatory costs. Notary involvement is compulsory for all Greek property transactions, since the final sale deed must be executed in front of a notary. Notary fees are usually expressed as a percentage of the property value, broadly falling between 1% and 1.5%. Engaging a solicitor is strongly advisable, with legal fees typically ranging from 1% to 2% of the purchase price. Registration fees payable to the Hellenic Cadastre for recording the title transfer are also required. Taken together, total transaction costs for property buyers generally amount to approximately 6%–9%, with round-trip costs — encompassing both the purchase and an eventual sale — typically running between 7% and 11%. Always confirm current fee schedules with the Greek Independent Authority for Public Revenue (AADE) and the Hellenic Cadastre.

AFM Tax Identification Number

Before completing a purchase, the buyer must file a property transfer tax return — which can be submitted electronically through the myPROPERTY portal — and settle the resulting tax liability. Following completion, the new owner must submit an E9 property data declaration through the myAADE platform within 30 days of the date on which the sale and purchase agreement was executed. All buyers are required to hold a Greek Tax Identification Number (AFM) prior to proceeding. To obtain this number, a personal visit to a tax office is necessary — though the majority of foreign purchasers grant their Greek lawyers a power of attorney to attend to this on their behalf.

Worked Example: Purchase of a €250,000 Resale Apartment

The figures above are indicative as of 2025. Always confirm prevailing costs with your notary, legal adviser, and the AADE before committing to a purchase.

Step-by-Step: How to Complete a Property Purchase in Greece

1. Obtain a Greek Tax Identification Number (AFM) from a local tax office or via a power of attorney granted to a Greek lawyer.
2. Open a Greek bank account (required for the transfer of purchase funds and payment of taxes).
3. Carry out due diligence — instruct a lawyer to check the title at the Hellenic Cadastre for encumbrances, mortgages, or planning violations.
4. Agree and sign a preliminary purchase agreement (if applicable) with a deposit.
5. File the property transfer tax return online via the myPROPERTY portal and pay the transfer tax before signing the final deed.
6. Sign the final notarised purchase deed before a Greek notary, in the presence of your lawyer.
7. Register the title deed at the Hellenic Cadastre and pay the registration fee.
8. Submit the E9 property declaration form via myAADE within 30 days of signing the deed.

Which taxes and fees apply when disposing of property in Greece?

Compared with the purchase process, selling property in Greece is typically less tax-intensive — primarily because transfer tax falls on the purchaser rather than the vendor. That said, sellers should still anticipate certain professional service costs.

Property transfer tax is levied on whoever acquires the legal or beneficial ownership of Greek real estate, and it is the buyer who settles this obligation. Sellers therefore have no transfer tax liability to factor into their calculations.

If you use the services of a real estate agent, a commission will apply — typically somewhere between 2% and 4% of the sale price, plus VAT. Many vendors also retain a lawyer to oversee the legal aspects of the transaction, with fees varying according to the complexity involved. A notary is required to execute the sale deed, and although it is customary for the buyer to bear notary costs, actual practice can vary; it is worth clarifying the arrangement with your notary before the transaction is finalised.

Where a sale results in a loss, that loss may be carried forward for a period of up to five years and set against future gains. This is a useful mechanism for investors who hold more than one property in their portfolio.

Vendors who are not tax-resident in Greece should note that they may be required to appoint a Greek fiscal representative. The Greek tax authorities require non-resident sellers to designate a fiscal representative who takes responsibility for the seller’s Greek tax obligations. Always confirm your requirements with the AADE or a qualified local tax adviser before proceeding with a sale.

Is capital gains tax charged on property disposals in Greece?

This is one of the most consequential — and most frequently misunderstood — dimensions of Greek property taxation for both buyers and sellers.

The taxation of capital gains arising from the disposal of immovable property has been suspended through to 31 December 2026 (Article 90 of Law 5162/2024). As matters stand in 2025, this suspension means that individual vendors face no tax on the profit realised from a property sale during this period. This represents a marked contrast with systems such as Capital Gains Tax in the United Kingdom or CGT in Australia, where gains on investment property sales are routinely brought into charge.

Greece does maintain a capital gains tax framework, but its practical application for individuals has been deferred repeatedly over more than a decade. Under the standard — currently suspended — regime, profits from property disposals are subject to a flat 15% rate, with the taxable amount adjusted by coefficients that reflect how long the seller has owned the property. When the standard CGT regime is reinstated, these coefficient adjustments will reward longer periods of ownership with a lower effective tax liability.

For individuals, capital gains tax will not be levied until 31 December 2026, provided the seller does not complete more than two property transactions within any two-year period and the activity does not constitute a business undertaking. Where a private individual carries out three or more property transactions within two years, the tax authority may reclassify the activity as a business operation rather than private property ownership, in which case the resulting profits are treated as business income and taxed at the applicable business rate (currently 22%).

Practical Example

Suppose a buyer acquired a resale apartment in Athens in 2019 for €180,000 and sells it in 2026 for €280,000, generating a gain of €100,000. Provided the suspension remains operative and this is not the seller’s third or subsequent property transaction within a two-year window, no capital gains tax will be payable, as the sale is treated as a private transaction. Once the CGT suspension eventually comes to an end, the standard 15% rate would be applied to the gain — potentially giving rise to a €15,000 liability, though ownership-period adjustments may moderate this figure.

Greece has concluded Double Taxation Treaties with numerous countries — including the United Kingdom, the United States, and the UAE — with the aim of ensuring that individuals are not taxed twice on the same income. Under these treaties, taxes paid in Greece on rental receipts or capital gains can generally be credited against tax due in the other contracting state. Tax residents of other countries may nonetheless be required to report such income to their home-country authority. It is advisable to verify your obligations with a tax professional in both Greece and your country of residence.

What recurring annual property taxes exist in Greece?

Yes. Every property owner in Greece — whether resident or non-resident — is subject to two forms of recurring property-related taxation: the Unified Real Estate Ownership Tax (ENFIA) and a modest municipal duty known as TAP.

ENFIA — The Annual Unified Property Tax

The Unified Property Tax (ENFIA) is calculated by reference to the real estate that a person holds on 1 January of each year. The tax is determined using the property data contained in the submitted Real Estate Information Declarations (E9).

The primary component of ENFIA is assessed on each individual property, taking into account its particular characteristics — including geographical location, floor area, intended use, age of construction, floor level within the building, and the number of facades it presents. The main tax rate varies according to these factors, ranging from €2 to €16.20 per square metre. Properties situated in high-demand areas such as central Athens, Mykonos, and Santorini tend to attract rates at the upper end of that scale.

Where the combined taxable value of an owner’s properties exceeds €500,000, a supplementary ENFIA charge may also apply. ENFIA is assessed once annually by the Greek tax authorities, and as of 2025, payment may be spread across up to 12 equal monthly instalments — typically commencing in March or April of the assessment year.

As a general illustration, a 90 sq m apartment in a mid-range part of Athens with an objective value of around €150,000 might generate an annual ENFIA charge of roughly €300–€600, though the precise figure will depend on all the characteristics described above. A property adviser or local accountant can provide an estimate of your expected liability ahead of a purchase.

Insurance Discount on ENFIA

Under Law 5162/2024, from 2025 onwards, property owners who insure their primary residence will see their ENFIA reduced by 20%, provided the taxable value of the insured property does not exceed €500,000. Where the value exceeds this threshold, a 10% reduction still applies. To qualify, the insurance policy must have been in force during the preceding year and must have run for a minimum of three months.

TAP — Municipal Real Estate Duty

Property ownership in Greece also gives rise to a municipal duty known as TAP, which is levied on both natural and legal persons and collected through electricity bills on behalf of local municipalities. It is calculated at a rate of between 0.025% and 0.035% of the property’s objective value, adjusted by a coefficient that accounts for the age of the building. For most residential owners, this represents a modest additional cost — typically below €100 per year — that forms part of the ongoing burden of property ownership.

Property owners may still be required to file a Greek tax return to declare their ownership, even where no rental or other income is generated. Non-resident owners should ensure that they are registered on the myAADE online platform and hold an AFM number in order to fulfil their obligations.

How does Greece tax rental income earned from property?

Rental income generated from property in Greece is taxable for all landlords — both residents and those living abroad — and must be reported to the Greek tax authority. The tax applies to residents and foreign nationals alike and is calculated on total annual gross rental receipts. A progressive rate structure applies.

Tax Rates for Rental Income (2025)

A legislative reform taking effect from 1 January 2026 will introduce an intermediate rate of 25% for the income band between €12,001 and €24,000, smoothing the abrupt transition between the 15% and 35% brackets and easing the tax burden for many small and medium-scale landlords.

Deductions

Landlords may offset certain qualifying expenditure against rental income before computing the tax due. Permissible deductions include property insurance premiums, maintenance and repair expenses, and utility costs borne by the owner. A standard 5% deduction may be applied in lieu of actual expenses in some situations. The precise rules on deductibility can vary depending on the type of rental arrangement, so it is advisable to confirm current provisions with a tax adviser.

Registration and Reporting Obligations

There is a statutory requirement to register all tenancy agreements on the AADE online platform, including short-term leases. Rental income must be included in the annual Greek income tax return, which is generally filed between March and July of the year following the relevant tax year. Failure to comply can attract substantial financial penalties.

Short-Term Rentals (Airbnb and Similar Platforms)

From 1 January 2024, income received by natural persons from the short-term rental of up to two properties is treated as income from immovable property and taxed under the standard progressive rental income scale, on condition that the properties are let furnished without the provision of any services beyond the supply of bed linen. Where additional services are provided, the income is reclassified as business income. Income derived from the short-term rental of three or more properties by a natural person is also treated as business income, subject to business taxation rules.

Accordingly, letting three or more properties short-term, or supplying hotel-style services, constitutes a business activity taxed under business income rules and potentially subject to VAT — commonly at 13%.

Furthermore, restrictions on short-term lettings have been introduced in several high-demand districts of Athens. With effect from January 2025, short-term rentals are prohibited in the following areas: Historical Centre, Koukaki, Plaka and Exarchia, Pangrati, Zappio, Mets and Neos Kosmos, Thisio, Petralona, Metaxourgio, and Votanikos. Breaching this prohibition attracts a minimum fine of €20,000. Always check applicable local regulations before listing any property on a short-term rental platform. Refer to the AADE for up-to-date reporting requirements.

Does inheritance tax affect property passed on in Greece?

Inheritance tax applies to real estate situated in Greece irrespective of whether the beneficiary is resident in the country or lives abroad. The obligation to pay the tax rests with the heir. The tax is calculated on the prevailing value of the inherited property at the time of succession, and it captures all categories of movable and immovable property located in Greece, regardless of the deceased’s nationality.

For real estate, the taxable value is the “objective value” — determined by reference to prescribed criteria established by the Ministry of Finance — as it stood on the date of the deceased’s death. Assets situated outside Greece are not brought within the scope of Greek inheritance tax, regardless of the nationality or residence of either the deceased or the heir.

Inheritance Tax Rates by Relationship Category

Each Category A heir may receive up to €150,000 free of inheritance tax. This compares favourably with, for example, the nil-rate band in the United Kingdom — which stands at £325,000 for the entire estate rather than per individual heir — though the two systems are structured very differently. In Greece, the threshold is applied individually to each heir’s share of the inherited property.

Greece has concluded double taxation treaties with a number of countries that may influence the overall inheritance tax position for foreign heirs. It is essential to consider your obligations in your own country of residence, as these treaties aim to prevent the same assets from being taxed twice. Heirs based outside Greece should take advice from a tax professional with expertise in both Greek law and the law of their home jurisdiction to gain a complete picture of their exposure.

Does gift tax apply when property is transferred in Greece?

The taxation of inheritances, donations, and parental benefits (grants) — originally governed by Law 2961/2001 and subsequently by Law 5219/2025 (the Property Tax Code — Part B) — applies to any individual, legal person, or legal entity that acquires property by reason of death, donation, or parental transfer.

In practical terms, this means that gifting property — whether as an outright donation or as a parental benefit (a widely used mechanism in Greek family law by which parents transfer property to their adult children) — constitutes a taxable event. Such transactions are taxed according to the family relationship between the parties and the taxable value of the property transferred, with each relationship category governed by its own rate scale and exemption levels.

The same three-tier Category A/B/C structure and progressive rate scales that govern inheritance tax broadly apply to gift tax as well, though the specific thresholds and rates for transfers made during a person’s lifetime may differ from those applicable on death. The €150,000 per-heir exemption similarly applies to Category A lifetime transfers — covering spouses, children, and parents — made by way of parental grant. It is important to note that successive gifts from the same donor to the same recipient may be aggregated when establishing the taxable base. Always verify current figures with the Greek Ministry of Finance or a locally qualified legal adviser, given the complexity of this area and the recent updates introduced by the new Property Tax Code (Law 5219/2025).

Transfers between spouses, parents and children, or other close family members may qualify for reduced rates or full exemptions under specific conditions. A notarised deed is required for any gift of real estate, and the transaction must be recorded with the Hellenic Cadastre.

What tax advantages or incentives exist for property buyers in Greece?

Greece provides several worthwhile tax reliefs and investment incentives for property buyers, some of which are of particular relevance to those relocating to — or investing from — outside the country.

First-Time Buyer Exemption on Transfer Tax

Exemptions from real estate transfer tax on the acquisition of a first home are regulated by Law 5219/2025. The first-time buyer relief applies where the purchaser does not already own another residential property above a specified minimum size and the property being acquired will serve as the buyer’s primary residence. Qualifying buyers may be exempt from transfer tax entirely up to certain value limits. Confirm the prevailing thresholds with the AADE, as the applicable figures are subject to revision.

Long-Term Rental Income Tax Exemption

Income arising from the rental of properties that were previously declared vacant or made available for short-term letting is also exempted from income tax, provided that a long-term rental agreement is concluded in respect of those properties between 8 September 2024 and 31 December 2025. The exemption period runs for 36 months from the month in which the relevant tenancy agreement is signed, and applies to properties with a floor area of up to 120 sq m.

ENFIA Insurance Discount

Homeowners who insure their properties against earthquake, fire, and flood damage can secure a reduction of up to 20% in their annual ENFIA bill — a meaningful incentive introduced under Law 5162/2024 that encourages responsible property management and promotes the take-up of natural disaster cover in a country with significant seismic risk.

Capital Gains Tax Suspension

A particularly significant advantage for investors is the current suspension of capital gains tax on property sales, which extends through to December 2026. This substantially improves the prospects for profitable exit strategies, allowing sellers who can complete transactions before the suspension lapses to avoid what would otherwise be a 15% charge on their gain.

The Non-Dom Tax Regime

In December 2019, Greece introduced a Non-Dom tax regime enabling foreign nationals who transfer their tax residence to Greece to exclude their overseas income from the scope of Greek taxation. In lieu of standard taxation on foreign income, qualifying individuals satisfy their obligations by paying a fixed annual sum of €100,000. The regime can be extended to cover the individual’s close relatives, subject to an additional annual payment of €20,000 per dependent. While this arrangement does not directly reduce Greek property taxes, it can render Greece highly tax-efficient for high-net-worth individuals with substantial income originating outside the country.

The Golden Visa Residency Programme

A qualifying property investment of €250,000 or more may entitle the purchaser to a five-year residency permit, with family members included and no obligation to spend any particular amount of time in Greece. While this is not a tax incentive as such, the Golden Visa programme makes Greek property investment an accessible route to residency. It is important to note that the visa confers residency status, not tax residency — meaning the holder does not automatically become liable for Greek taxes on worldwide income unless they establish tax residence in Greece. Verify the current minimum investment threshold directly with the Greek Ministry of Migration and Asylum, as programme requirements have been amended in recent years.

Do separate rules govern foreign buyers or non-residents acquiring property in Greece?

Greece maintains a broadly open approach to foreign property ownership, and the tax framework applies largely on the same terms to overseas buyers as to Greek nationals. Nevertheless, there are some important compliance requirements and practical considerations that foreign purchasers need to be aware of.

Foreign nationals are subject to the same property taxes as Greek citizens, encompassing the annual ENFIA charge, the municipal TAP levy, and the applicable transfer taxes at the point of purchase. Foreign investors — including those applying for a Golden Visa — follow the same transfer tax rules as domestic buyers, though they may be eligible for various other tax incentives described elsewhere in this guide.

Restricted Zones

One notable exception concerns border zones and certain islands. Nationals of countries outside the EU and EEA may face restrictions on purchasing property in designated “restricted border zones” — areas close to Greece’s land and maritime borders that are considered sensitive for national security purposes. In such areas, prior authorisation from a committee operating under the Ministry of National Defence is required. EU and EEA nationals are generally not subject to this restriction. Buyers should establish whether a property they are considering falls within a restricted zone before committing to a purchase.

AFM and Fiscal Representative

Every foreign buyer must hold a Greek Tax Identification Number (AFM) before completing a transaction. Obtaining this number requires a personal appearance at a tax office — though in practice, the majority of overseas buyers grant their Greek lawyers a power of attorney to handle this on their behalf. Non-residents who subsequently dispose of property in Greece may additionally be required to appoint a locally based fiscal representative.

Annual Tax Filing Obligations

Non-residents are taxed in Greece only on income derived from Greek sources — such as rental receipts or proceeds from property sales. They must obtain a Greek tax number (AFM) and submit annual tax returns in Greece. Property owners may still be required to file a return to declare their ownership, even where no income is received from the property.

Double Taxation Treaties

Greece has concluded Double Taxation Treaties (DTTs) with a large number of countries. These treaties are designed to prevent the same income — including rental receipts, capital gains, and inheritance — from being taxed in two jurisdictions simultaneously. Buyers should check whether a DTT is in place between Greece and their country of tax residence, and should clarify how its provisions affect their individual circumstances. The AADE and the Greek Ministry of Finance both publish treaty information on their websites.

Frequently Asked Questions: Property Taxes in Greece

Do I have to pay tax in Greece if I own a property there but do not live there?

Yes. Every property owner — irrespective of where they are based — is liable to pay annual ENFIA and the municipal TAP levy on any real estate they hold in Greece. Non-residents are taxed in Greece only on income from Greek sources, but the mere fact of owning property generates an annual tax obligation. You will need an AFM number and may be required to file an annual declaration. Consult the AADE to clarify your specific duties.

Is there capital gains tax when I sell my Greek property right now?

The imposition of capital gains tax on the disposal of immovable property has been suspended through to 31 December 2026 under Article 90 of Law 5162/2024. For the great majority of individual sellers, no CGT is payable on property disposals until that date — but you should check whether your transaction might be reclassified as a business activity, as different rules could then apply. Confirm the current position with the AADE or a tax adviser before proceeding with any sale.

What is the ENFIA and how much will I pay?

The Unified Real Estate Property Tax (ENFIA) is a recurring annual charge levied on all individuals and legal entities that own real estate in Greece, regardless of whether that real estate is residential, commercial, industrial, or undeveloped land. The amount due varies considerably according to the property’s location, dimensions, age, and a range of other factors. The main tax component is charged at rates between €2 and €16.20 per square metre. Consult the AADE or a local accountant to obtain an estimate of the liability specific to any property you are considering purchasing.

Do I need a Greek lawyer when buying property in Greece?

Although the law does not always make legal representation mandatory, instructing a locally qualified Greek lawyer is very strongly advisable. Conducting title searches, carrying out due diligence on planning consents, reviewing sale contracts, and confirming that the property is unencumbered by debts or charges are all essential steps that require specialist legal knowledge. A lawyer can also manage your AFM registration and submit tax filings on your behalf.

How is Airbnb-type rental income taxed differently from long-term rental income?

From 1 January 2024, income earned by natural persons from the short-term letting of up to two properties is classified as income from immovable property and taxed under the standard progressive rental income scale, on condition that the properties are let furnished without the provision of any services beyond the supply of bed linen. Income from the short-term rental of three or more properties by a natural person is treated as business income and taxed accordingly, including potential VAT obligations. Consult the AADE for current guidance.

Are there any inheritance tax exemptions for close family members in Greece?

Yes. Category A heirs — spouses, children, grandchildren, and parents — benefit from an individual exemption of €150,000 per heir, with any amount above this threshold taxed at rates between 1% and 10%. For more distant relatives and for unrelated beneficiaries, lower thresholds and steeper rates apply. Verify prevailing thresholds with the Greek Ministry of Finance or a locally qualified adviser.

Does the Greek Golden Visa make me a tax resident?

The Golden Visa programme confers residency status, not tax residency. Holding a Golden Visa does not automatically expose you to Greek taxation on your worldwide income unless you actually become a tax resident of Greece. Greek tax residency is ordinarily established by spending more than 183 days per year in the country. If you are considering making Greece your primary base, it is important to seek specific tax advice, since acquiring tax residency fundamentally alters your obligations.

What official sources should I consult for property tax information in Greece?

The key official sources are: the Independent Authority for Public Revenue (AADE) for all tax-related matters including ENFIA and rental income tax; the Greek Ministry of Finance for tax policy, applicable rates, and international treaty information; and the Hellenic Cadastre for property registration and title matters. Given that Greek tax rules are subject to regular change, always confirm current figures with these sources or with a locally qualified tax adviser.