Greek Property Taxes Explained: What to Consider? | Astons

Greece imposes several property-related taxes, including transfer taxes, annual levies like ENFIA, and municipal fees. Another important issue to understand is the Greek capital gains tax on property, which is currently suspended until the end of 2026, creating a window of opportunity for investors.

These taxes are generally calculated based on an official property assessment conducted by the Greek tax authorities. Additionally, your tax obligations may vary depending on your tax residency status in Greece — something particularly relevant for foreign nationals taking advantage of special programmes like the Non-Dom Regime.

This guide provides a thorough overview of all major property-related taxes and special regimes for foreign investors, equipping you with the knowledge needed for informed and strategic investment decisions in Greece.

Greek Property Taxes – Quick Overview

Transfer Tax:

3% on resale properties (based on objective value)
New builds: 24% VAT instead
Exemption for first-time homebuyers

Annual Property Tax (ENFIA):

€2–16.20 per sq. m.
Extra tax for properties over €500,000
Payable in 12 monthly installments

Municipal Tax (TAP):

0.025–0.035% of property value
Collected via electricity bills

Rental Income Tax:

15% up to €12,000
35% from €12,001–€35,000
45% over €35,000

Capital Gains Tax:

15% rate, suspended until end-2026

Inheritance & Gift Tax:

1–10% for close relatives, up to 40% for others

Corporate Property Tax:

3.09% transfer tax
15% Special Real Estate Tax if ownership not disclosed

Property Transfer Taxes in Greece

When purchasing real estate in Greece, buyers are subject to a standard property transfer tax of 3%, calculated based on the property’s objective value, as determined by the Greek tax authorities — not the market price. It’s important to note that this tax applies to properties not subject to VAT, typically older properties. For new buildings subject to VAT, the transfer tax is not applicable.

For newly built properties (usually those with a construction permit issued after January 1, 2006), the 24% VAT applies instead of the transfer tax. This VAT is calculated on the property’s sale price and is typically paid by the buyer.

For example, if a buyer purchases a resale apartment in Greece with an objective value of €300,000:

The transfer tax would amount to €9,000 (3% of €300,000).
If the same property were a new development subject to VAT, the buyer would not pay the transfer tax at all but would instead pay €72,000 in VAT — calculated as 24% of €300,000.

Some buyers may qualify for exemptions or reductions. First-time homebuyers using the property as a primary residence can receive full or partial relief from the transfer tax. Inheritance and gifts are taxed separately and do not fall under transfer tax rules. Foreign investors, including Golden Visa applicants, follow the same transfer tax rules as locals but may benefit from other tax incentives.

Annual Property Ownership Tax (ENFIA)

The ENFIA (Uniform Real Estate Ownership Tax) is an annual tax imposed on property owners in Greece. The main tax rate varies based on factors such as the property’s location, size, and age, ranging from €2 to €16.20 per sq. m. Properties in high-demand areas like central Athens, Mykonos, and Santorini generally attract higher rates.

For properties with a total objective value exceeding €500,000, an additional supplementary tax may apply, which is calculated separately. This makes ENFIA particularly relevant for luxury property owners and high-value investors.

ENFIA is assessed once a year by the Greek tax authorities, and as of 2025, it can be paid in up to 12 equal monthly installments — typically starting in March or April. Taxpayers are notified through the myAADE online platform, where they can view, download, and pay their annual tax bill.

Example of a calculation:

A 100 m² apartment in central Athens, taxed at €10 per square meter, would generate an annual ENFIA of €1,000. This amount could be paid in 12 monthly installments of approximately €83.
In contrast, a 250 m² luxury villa on a Greek island, taxed at €14 per square metre, would result in an annual ENFIA of €3,500.This amount could be paid in 12 monthly installments of approximately €292.

Municipal and Other Local Taxes

In addition to national taxes, property owners in Greece are subject to the TAP (Municipal Property Tax), which is collected through electricity bills. The TAP rate ranges between 0.025% and 0.035% of the property’s objective value, potentially adjusted based on the property’s age. These funds support local municipal services and infrastructure.

The tax typically amounts to €1–3 per square meter, depending on the municipality. For example, for a 100 m² apartment, the annual TAP could range from €100 to €300.

Tax on Rental Income

Rental income in Greece is subject to progressive taxation, with rates depending on the total annual income received from rent.

The applicable tax brackets are:

Up to €12,000	15%
From €12,001 to €35,000	35%
Over €35,000	45%

Landlords are allowed to deduct certain eligible expenses from their rental income before tax is calculated. These deductible expenses include property insurance, maintenance and repair costs, and utility bills paid by the owner.

Additionally, there is a legal obligation to register all rental agreements in the online tax platform (AADE system), even for short-term leases.

If an apartment is rented for €1,500 per month, the annual rental income is €18,000.

The tax would be calculated as follows:

First €12,000 at 15% = €1,800.
Remaining €6,000 at 35% = €2,100.

Total tax: €3,900 (before deductions).

Capital Gains Tax on Property Sales

As of 2025, the capital gains tax on the sale of immovable property in Greece is suspended until December 31, 2026. This suspension means that individual sellers are not taxed on the profit from the sale of their property during this period. The general capital gains tax rate, once in effect, is 15%. However, it’s essential to consider tax obligations in your home country, as Greece has treaties to avoid double taxation with many nations.

Inheritance and Gift Taxes

Inheritance tax in Greece varies depending on the relationship between the deceased and the beneficiary.

Children, spouses	1–10%
Siblings, nephews, grandparents and nieces	up to 20%
Distant relatives	up to 40%

Close relatives, such as children, spouses, and siblings, often benefit from significant exemptions or reduced rates. The tax is calculated based on the property’s objective value, which is typically lower than its market value. Proper legal procedures, including formal acceptance of the inheritance and registration with local authorities, are required.

Corporate Property Taxes

Corporate entities acquiring real estate in Greece are also subject to the real estate transfer tax at a rate of 3%, with the additional municipal surcharge bringing the total to approximately 3.09%. This tax applies to properties not subject to VAT. For new constructions where VAT is applicable, the transfer tax is not imposed.

In addition, corporate owners of real estate in Greece may be liable for the Special Real Estate Tax (SRET). This tax is imposed at a rate of 15% if the ultimate beneficial owners are not disclosed.

To avoid or reduce this tax exposure, companies can optimize their ownership structure by ensuring transparency through:

Clear declaration of ultimate beneficial owners.
Use of transparent legal structures such as trusts.
Ownership through registered investment funds.

Tax Benefits and Exemptions for Investors

Greece offers several tax incentives and exemptions to attract foreign investors, particularly in the real estate sector.

Greece Non-Dom Tax Regime for Property Investors

Greece offers a favorable non-domiciled (non-dom) tax regime for foreign investors who transfer their tax residence to Greece. Under this regime, eligible individuals can opt to pay a flat annual tax of €100,000 on foreign-sourced income, regardless of the amount earned abroad.

To qualify, applicants must not have been Greek tax residents for 7 of the last 8 years and must invest at least €500,000 in Greece within 3 years of application. This investment can be in real estate, businesses, or securities. The non-dom status can be maintained for up to 15 years, as long as the individual continues to satisfy the required eligibility conditions.

Golden Visa Investors – Specific Considerations

Investors obtaining Greek residency through the Golden Visa program enjoy the standard tax framework, but with proper structuring, they may optimise their tax position both in Greece and in their home country. While the program itself does not grant direct tax exemptions, it facilitates access to other investment-related incentives.

ENFIA Reduction for Energy-Efficient Properties

Owners of properties with high energy efficiency ratings may be eligible for reductions in the annual ENFIA property tax. The higher the energy class, the greater the potential reduction, encouraging eco-friendly real estate investments.

Tax Optimisation Strategies

Investors can reduce their overall tax burden through several legal methods, including:

Splitting ownership (e.g., between family members or legal entities).
Proper registration of property-related expenses to deduct eligible costs from taxable income.

Practical Guide: How to Pay Property Taxes in Greece

Greek property taxes can be paid through various methods, including online banking, direct debit, and at authorized banks or post offices. The Greek tax authority’s online platform provides detailed information and services related to tax payments.

The Greek tax authority’s official online platform is AADE (Independent Authority for Public Revenue). This website allows property owners and taxpayers to manage their tax obligations, submit declarations, pay property taxes (like ENFIA), and find official information regarding deadlines and procedures. For English-speaking users, some sections are available in English, though many services are primarily in Greek.

Deadlines for tax payments are strictly enforced, and late payments may incur additional charges. It’s advisable to set reminders and consult with a tax advisor to ensure timely compliance.

Greek Tax Identification Number (AFM)

To manage property taxes in Greece, obtaining a Greek Tax Identification Number (AFM) is essential. Both residents and non-residents who own property in Greece are required to have an AFM, which is issued by the local tax office (DOY). This number is used for all tax-related transactions and is a prerequisite for submitting property declarations and making tax payments.

Property-related tax declarations E9 and E2

Property-related tax declarations are made using specific forms:

The E9 form is used to declare ownership, changes, or corrections related to real estate assets.
The E2 form is typically submitted alongside the E1 income tax return and includes detailed information about rental income from real estate.

Accurate and timely submission of these forms is necessary to ensure proper calculation of property taxes such as ENFIA.

Deadlines and Penalties for Late Payment

Deadlines for property tax payments and form submissions are set annually by the Greek tax authority. Missing these deadlines can result in fines or interest charges. Penalties vary depending on the delay and the type of tax or declaration involved, so it’s important to stay informed through the AADE platform or consult with a tax advisor to avoid unnecessary costs.

Case Studies (Examples for Investors)

Apartment in Athens (€250,000)

Taxes on purchase:

Transfer tax: 3.09% of the transaction value — €7,725.
Notary and registration fees: 1–2% of the value — €2,500–€5,000.

Taxes on ownership:

Unified Property Tax (ENFIA): depends on the cadastral value and location.

Taxes on rental income:

Up to €12,000 — 15%.
From €12,000 to €35,000 — 35%.
Over €35,000 — 45%.

Villa in Mykonos (€1,200,000)

Taxes on purchase:

Transfer tax: 3.09% of the transaction value — €37,080.
Notary and registration fees: 1–2% of the value — €12,000–€24,000.

Taxes on ownership:

Unified Property Tax (ENFIA): depends on the cadastral value and location. For a luxury villa
in Mykonos, this may range from €3,000 to €10,000+ per year.

Taxes on rental income:

Up to €12,000 — 15%.
From €12,000 to €35,000 — 35%.
Over €35,000 — 45%.

Sale of an Apartment After 5 Years

Starting in 2026, Greece is expected to implement a Capital Gains Tax (CGT) on real estate sales.

For example:

Purchase price: €250,000
Selling price (after 5 years): €320,000
Profit: €70,000
Capital Gains Tax (15%): €10,500.

Double Tax Treaties and International Considerations

Greece has signed Double Taxation Treaties (DTTs) with many countries, including the UK, USA, and UAE, to prevent individuals from being taxed twice on the same income.

UK & USA: Under the treaties, taxes paid in Greece on rental income or capital gains can typically be credited against taxes owed in the UK or US. However, tax residents may still need to report the income in their home country.
UAE: As the UAE has no personal income tax, income taxed in Greece is usually not subject to further taxation, though proper reporting may still be required.

Key considerations for Non-Residents:

Non-residents are only taxed in Greece on income derived from Greek sources, such as rental income or property sales.
You must obtain a Greek tax number (AFM) and file annual tax returns in Greece.
Proper documentation (e.g. notarized contracts, proof of expenses) is essential for applying deductions or benefits under DTTs.

Conclusion

Property taxation in Greece includes several components that investors must consider. These cover taxes incurred during the acquisition of property, annual ownership taxes, and taxes applicable upon the sale or inheritance of property. The Greek tax system differentiates between individual and corporate ownership, with specific provisions for foreign investors. Staying informed about these taxes is essential for compliance and financial planning.

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FAQ

Do I need to pay taxes in Greece if I’m not renting out my property?

Yes, even if you are not renting out your property in Greece, you are still required to pay certain taxes:

ENFIA (Unified Property Tax): This annual tax applies to all property owners in Greece, regardless of whether the property generates income. The amount depends on the cadastral value, size, location, and other factors.
You may still need to file a tax return in Greece to declare ownership, even if no income is earned.
Utility and maintenance costs are also your responsibility, even if the property is vacant.