Taxes and expenses for purchasing real estate in Greece

Greece remains one of the most in-demand destinations for obtaining a residence permit through investment. The “Golden Visa” program has gone through a number of legislative changes aimed at balancing the real estate market, making the rules of the game more transparent, but also stricter.

Below is a detailed breakdown of the current taxes and fees that must be considered when purchasing real estate in Greece.

Property Transfer Tax

At present, Greece has a unified property transfer tax rate. It amounts to 3% of the property value stated in the contract (but not lower than the cadastral value). A municipal fee of 3% of the tax amount itself is added to this, bringing the effective rate to 3.09%.

When purchasing apartments for €400,000, the base tax will amount to €12,360.According to the Greek Tax Code, this tax is mandatory for all buyers, regardless of their citizenship.

VAT Relief for New Builds

The most important advantage of the current period is the suspension of VAT (24%) on new properties. This means that buyers of primary-market housing pay the same 3.09% as buyers of resale properties, which significantly lowers the entry threshold for high-quality development projects.

For a property worth €500,000, the savings compared to the standard European tax on new buildings can exceed €100,000.

Legal Support Costs

Greek legislation makes the involvement of professional lawyers and notaries a key element of transaction security.

• Lawyer’s fee (1–1.5% + 24% VAT): The lawyer is required to conduct a title check in the Mortgage Registry for encumbrances, liens, or legal disputes. Without the lawyer’s signature, the verification procedure is considered incomplete.
• Notary services (1–1.2% + 24% VAT): The notary acts as a state registrar. They prepare the contract text and are responsible for its correctness.
• Registration fee (0.5–0.7%): This fee is paid to the Land Registry (Hypothecopyphylakeion) for entering data about the new owner into the official database.

Annual Ownership Taxes

After taking ownership rights, the owner bears regular tax obligations to the state.

Unified Real Estate Tax (ENFIA)

The ENFIA tax amount is calculated individually for each property. It depends on the zone, area, age of the building, and floor level.

For a 100 sq. m apartment in a residential area of Athens, the tax is usually between €300 and €600 per year. Official data from the tax authority AADE allows calculating the exact amount through the taxpayer’s personal account (Taxisnet).

Rental Income Tax

If the property is rented out long-term (short-term rentals are legally restricted for Golden Visa holders), income is taxed on a progressive scale:

• Up to €12,000 per year — 15%.
• From €12,001 to €35,000 — 35%.
• Above €35,000 — 45%.

Expense Summary

Important: All transaction payments must be made exclusively through the banking system. The use of cash to pay for the property value or related taxes is a violation of the law and leads to contract annulment.

When planning the budget, an investor should allocate an additional 7–9% of the property value to cover all taxes and related fees.

• Notary services: Usually range within 1.2% – 1.5% plus VAT.
• Transfer tax (Property Transfer Tax): Amounts to about 3.09% of the property value.
• Title registration: Entering data into the Land Registry will cost 0.5% – 0.8%.
• Legal services: Due diligence and transaction support — another approximately 1.2% – 1.5%.