Taxes and Transaction Costs for Property Buyers in Greece
A factual breakdown of what a buyer pays at purchase and during ownership, from transfer tax to annual property tax.
Costs at Purchase
- Transfer tax: 3.09 percent of the taxable value for resale properties.
- Notary fees: typically around 1 to 1.5 percent.
- Legal fees: typically around 1 to 1.5 percent.
- Land registry fees: approximately 0.5 percent.
Costs During Ownership
The main recurring tax is ENFIA, the annual property tax, calculated by size, location and building factors. For typical Athens apartments it usually amounts to a few hundred euros per year.
Rental income earned by individuals is taxed on a progressive scale starting at 15 percent for the first bracket. Greece has double taxation treaties with many countries, so the same income is not taxed twice; a local accountant applies the treaty relevant to your residency.
What This Means in Practice
As a working rule, buyers should budget roughly 6 to 8 percent above the purchase price to cover all transaction costs. Exact figures depend on the property's taxable value, which your lawyer confirms before the preliminary agreement.
This guide is general information, not legal, tax or investment advice. Figures are indicative and change with regulation. For a answer specific to your situation, contact us.