Greece

Real estate websites
STEPS
Check Eligibility
- Non-Residents: Foreigners, including non-EU nationals, are permitted to buy property in Greece, with some restrictions on purchasing in border areas or islands. Non-EU buyers may need to obtain permission from the Ministry of Defense or the local authorities.
- Financing: Foreign buyers may be able to obtain a mortgage from Greek banks, although they may face higher interest rates and stricter criteria. A larger down payment (usually around 30% to 40%) is often required.
Determine the Budget
- Budgeting: Consider the total costs of buying property, including the purchase price, taxes, notary fees, and other additional costs (e.g., legal fees, registration fees, and potential renovation costs).
- Mortgage: If financing the property, most Greek banks lend up to 60% to 70% of the property's value, meaning buyers typically need to cover at least 30% to 40% of the purchase price.
Find a Property
- Online Search: Websites such as Spitogatos (spitogatos.gr) and XE (xe.gr) list properties for sale across Greece. You can filter the search by location, price, and other factors.
- Real Estate Agents: Engaging with a local real estate agent (with knowledge of both local and international markets) can simplify the process. They can assist with finding suitable properties and negotiating with the seller.
View the Property
- Inspections: It is advisable to arrange a professional property inspection to assess the property's condition, including any issues with the structure, electrical systems, or plumbing.
- Visiting the Property: If you are not in Greece, you may arrange for a representative to visit the property on your behalf or request a virtual tour.
Make an Offer
- Bidding: While the price is often negotiable, many properties in Greece are sold for the asking price or close to it. Once your offer is accepted, both parties will sign a preliminary contract (synthiki agoras).
- Contract: At this stage, a deposit (typically 10% of the purchase price) is usually required to secure the property.
Complete Legal Formalities
- Notary Involvement: In Greece, the notary (symvoulos) ensures that the property sale complies with Greek law and registers the property with the local land registry.
- Property Transfer Tax: Greece imposes a property transfer tax (φόρος μεταβίβασης) of 3% to 10% on the purchase price, depending on the property value.
Register the Property
- Land Registry: Once the legal formalities are complete, the property must be officially registered with the Greek Land Registry (Ktimatologio) to transfer ownership.
- Insurance: It is advisable to obtain property insurance (ασφάλιση κατοικίας) to protect the property against damage.
Move In
- After finalizing all formalities and transferring ownership, the property is ready for you to move in.
ADDITIONAL CONSIDERATIONS
- Legal Assistance: It's advisable to consult with a local lawyer to help navigate the legal requirements and ensure all documentation is in order. The lawyer can also assist with property due diligence to confirm the legal status of the property.
- Taxes and Fees: Besides the property transfer tax, be aware of notary fees, registration fees, and any local taxes or charges that may apply to property owners.
ADDITIONAL NOTICES
- Property Transfer Tax: The property transfer tax in Greece ranges from 3% to 10%, depending on the value of the property. Buyers should confirm the exact rate for the property they are purchasing.
- Notary Role: The notary (symvoulos) is a key figure in the transaction process in Greece. They ensure the legality of the sale and register the property with the local authorities.
- Mortgage Financing: Foreign buyers may face stricter mortgage requirements, including higher down payments, typically between 30% and 40% of the property value.

In Greece, real estate taxes are regulated by the national government, with specific rules for property owners, buyers, and sellers. The main types of real estate taxes in Greece include:

Property Ownership Tax

Enfia (Unified Property Tax): In Greece, the Enfia is the main property ownership tax, applicable to both residential and commercial properties. This tax is based on the property’s value, as determined by a government-assigned value (the objective value).

  • The Enfia tax is calculated based on the objective value of the property, which varies depending on location, size, and other factors.
  • The tax is progressive and consists of two parts: a base tax and an additional tax based on the value of the property above certain thresholds.
  • The base rate ranges from 0.1% to 1.1%, depending on the property’s value, with higher rates applying to properties with a higher market value.
  • Enfia is due annually, and property owners are typically responsible for paying the tax.
Real Estate Transfer Tax

The real estate transfer tax is applied when a property changes ownership, such as during a sale or inheritance.

  • The standard real estate transfer tax rate is 3% of the property’s purchase price or the market value, whichever is higher.
  • If the property is newly built or purchased as a primary residence, the tax rate may be reduced to 1%.
  • In the case of property transfers between close family members, such as between spouses or parents and children, the tax rate may be reduced or exempted in certain cases.
Capital Gains Tax on Real Estate

Capital gains tax applies when a property is sold at a profit. The tax rate depends on the duration of property ownership and other factors.

  • The capital gains tax rate is 15% on the profit made from the sale of the property (the difference between the sale price and purchase price).
  • If the property was held for more than 5 years, capital gains tax does not apply on the sale of the property.
  • If the property was used as a primary residence for at least 5 years, capital gains tax may not apply if the sale proceeds are reinvested into another primary residence.
Inheritance and Gift Tax

Greece applies inheritance and gift taxes when real estate is transferred through inheritance or as a gift. The tax rate depends on the relationship between the deceased or donor and the recipient.

  • The inheritance and gift tax rate is progressive, with rates ranging from 1% to 40%, depending on the value of the property and the relationship between the parties.
  • Spouses, direct descendants (children), and parents may receive exemptions or reduced tax rates on inherited property.
  • Other relatives and unrelated individuals face higher tax rates based on the value of the property.
Municipal Tax

In addition to the property ownership tax (Enfia), certain municipalities in Greece may impose additional taxes or fees related to the property, such as for the use of public infrastructure or local services.

Income Tax on Rental Income

If rental income is generated from real estate, it is subject to Greek income tax.

  • Rental income is taxed as part of personal income tax, with rates ranging from 15% to 45% depending on the income level.
  • Property owners can generally deduct related expenses, such as maintenance, repairs, property management fees, and mortgage interest from their rental income.
  • In certain cases, short-term rental income (e.g., Airbnb) is subject to specific tax rules and rates set by the government.
Note: Tax rates and regulations can vary based on the location of the
Official
Hellenic Republic
CIOC
GRE
Subregion
Southern Europe
Borders
ALB
BGR
TUR
MKD
Capital
Athens
Area
131 990 km²
Population
10 716 000
Timezones
UTC+02:00
Phone
+30   
Currencies
Euro (EUR €)