Investing in Greek real estate is an exciting venture, but like any major financial decision, it requires a clear understanding of the associated costs. For foreign investors, the Greek property tax system can seem complex at first glance. However, it's a structured and manageable system, especially with expert guidance.

This guide breaks down the essential taxes you will encounter as a property owner in Greece, from the moment of purchase to the annual costs of ownership.

It's a one-time fee paid to the state to complete the ownership transfer.

• What it is: A tax levied on the sale of a property.
• Tax Rate: The rate is a straightforward 3.09% of the property's taxable value.
• How is the Value Calculated? The tax is calculated on the higher of two values:
  1. The price stated in the final purchase contract.
  2. The "Objective Value" (Αντικειμενική Αξία), which is a government-set zonal value for properties in a specific area.
• Who Pays It? The buyer is solely responsible for paying the Property Transfer Tax.
• When is it Paid? Crucially, this tax must be paid in full before the final deed is signed. Your lawyer will provide you with the official payment code, and the proof of payment is attached to the final contract.

Note on VAT (ΦΠΑ): For newly constructed properties sold directly by a licensed developer for the first time, the 3.09% FMA is replaced by a 24% VAT. However, the vast majority of transactions, especially for foreign investors buying resale apartments, fall under the FMA.

Whether they live in the property, rent it out, or leave it vacant.

• What it is: An annual holding tax for property ownership.
• How is it Calculated? ENFIA is a complex calculation based on numerous factors, including:
• Property size (square meters)
• Objective Value of the area
• Floor level
• Year of construction permit
• Façade (e.g., if it's on a main street)
• How Much Will I Pay? It varies significantly depending on the property. For a standard apartment in a central Athens neighborhood, it typically ranges from a few hundred to a couple of thousand euros per year. It is generally considered a reasonable holding cost. For individuals with a total property portfolio exceeding €250,000 in objective value, a small supplementary tax may also apply.
• When is it Paid? The annual ENFIA bill is typically issued in the latter half of the year and can be paid either as a lump sum or in monthly installments. deliver comprehensive solutions and build long-term relationships based on trust.

That income is taxable in Greece.

• What it is: A progressive tax on profits earned from renting out your property.
• Tax Rates (for individuals): The system is based on brackets:
• Annual rental income up to €12,000 is taxed at 15%.
• Income from €12,001 to €35,000 is taxed at 35%.
• Income above €35,001 is taxed at 45%.
• Important Note: You are taxed on your net profit. This means you can deduct certain expenses, such as renovation costs (under specific rules), the annual ENFIA payment, and other property-related expenses, which can significantly lower your taxable income.

This is the tax on the profit you make when you eventually sell your property (the difference between the purchase price and the selling price).

• Current Status: While a 15% Capital Gains Tax officially exists in Greek law, its application has been suspended for individuals until at least the end of 2024. This suspension has been regularly extended and is a significant incentive for real estate investment.

our primary costs will be the one-time 3.09% Transfer Tax upon purchase, the annual ENFIA for as long as you own the property, and income tax if you choose to rent it out.

Navigating these obligations is a core part of a successful investment. At Nest Land, our team of legal and accounting experts manages all tax-related matters on your behalf—from ensuring the transfer tax is paid correctly to filing your annual tax declarations. This integrated approach ensures full compliance and optimizes your financial returns, allowing you to enjoy the benefits of your investment without the administrative burden.