Property Taxes in Greece

Property Taxes in Greece: What You Pay at Purchase, Every Year, and When It Gets Expensive

Property taxes in Greece are often described as “low”, which is only partly true. The problem is not a single high tax, but a combination of taxes paid at different stages, some visible and some quietly recurring. Most buyers underestimate total tax exposure because they only focus on the purchase tax and ignore what comes after.

This guide explains all property-related taxes in Greece, with actual percentages and amounts, and shows where buyers usually get surprised.

Taxes paid at purchase (one-time, unavoidable)

When buying property in Greece, the main tax is the Property Transfer Tax.

• Property transfer tax: 3.09%
This is calculated on the taxable value (often the objective value, not always the agreed price).

This tax applies:

to individuals
to companies
to foreign and Greek buyers alike

There is no exemption for first-time buyers unless specific conditions apply (rare for foreigners).

VAT instead of transfer tax (new properties)

For newly built properties where VAT applies:

• VAT rate: 24%

This replaces the 3.09% transfer tax.

Important realities:

VAT applies only to specific new-build cases
many “new” properties still fall under transfer tax
VAT dramatically increases total cost if applicable

This must be checked before signing anything.

Annual property tax (ENFIA)

ENFIA is the annual property ownership tax.

It applies:

every year
to individuals and companies
regardless of whether the property generates income

ENFIA depends on:

location
size
zone value
age of the building

Indicative reality:

small apartments: a few hundred euros per year
larger or high-value properties: significantly more

ENFIA does not disappear under company ownership.

Additional ENFIA for higher-value property portfolios

Owners with higher total property values may face:

supplementary ENFIA
increased annual tax burden

This applies at portfolio level, not per property.

Many buyers discover this only after acquiring multiple assets.

Rental income tax (if the property is rented)

Rental income is taxed separately from ENFIA.

Indicative structure:

progressive tax rates
applies to net rental income
higher income = higher effective tax

Short-term rental income must be declared properly.
Failure to do so leads to penalties and audit risk.

Taxes on vacant or personally used properties

Important clarification:

you pay ENFIA even if the property is empty
you pay ENFIA even if it’s for personal use
there is no “non-use” exemption

Ownership itself triggers the tax.

Company-owned property tax exposure

When property is owned by a company:

ENFIA still applies
rental income is taxed at corporate level
profit distribution may be taxed again

Company ownership does not eliminate property tax.
It usually increases complexity and cost.

Capital gains tax on resale (when applicable)

Capital gains tax exists in law but is often suspended or modified.

However:

resale tax rules change
buyers should not assume zero exit tax
company resales often trigger different exposure

Exit taxation must be checked at the time of sale, not assumed at purchase.

Municipal charges (often overlooked)

Municipal fees are charged through:

electricity bills
utility connections

These are small individually but permanent.

They apply even if the property is unused.

Where buyers usually get surprised

The most common shocks:

ENFIA every year, regardless of income
VAT instead of transfer tax on new builds
rental income tax higher than expected
supplementary ENFIA on multiple properties
no tax relief for vacant properties

None of these are hidden. They are just ignored early.

When property taxation is manageable

Taxes are manageable when:

purchase structure is planned
VAT exposure is confirmed early
rental income assumptions are realistic
ownership structure matches use
exit strategy is considered

Tax pain usually comes from assumptions, not rates.

When taxes become a real problem

Problems arise when:

buyers stretch budgets to the limit
ENFIA is ignored
VAT is discovered late
company ownership is chosen casually
resale tax is not considered

Property tax in Greece is not punitive — but it is persistent.