Real estate
purchase tax 3.09% of the new build
property value
Real estate
tax 0.5% of the cadastral
value per annum
Rental income
tax 15–45% of the rental income
Capital
gains tax 0% of the property value

In Greece, non-residents pay the same property taxes as residents.

Purchase

The property purchase tax amount may vary greatly:

  • Buyers pay a 24% VAT on new-builds with permits issued after 1 January 2006.
  • For properties built before 2006 only the title deed transfer tax — 3.09% of the property value — applies.

Buyers have to pay a registration tax ranging from 0.475% to 0.775% of the transaction value when purchasing any property.

Ownership

The annual real estate tax has two components. The main part ranges from €0.001/m² to €13/m². The precise amount is determined by a number of factors: area, property value, building date, and so on. There is an additional levy for properties of at least €200,000 in cadastral value at rates from 0.10% to 1.15%, depending on the property price, which individuals have to pay. For legal entities, the additional levy is fixed at 0.55% of the property's cadastral value.

There is also an annual municipal tax, which ranges from 0.025% to 0.035%, depending on the location of the property.

Lease

Individuals pay a rental income tax of 15% to 45%, depending on how much they receive. Property maintenance costs are deducted from the tax base.

Annual income, € Tax rate, %
Under 12,000 15
12,001 to 35,000 35
35,001 and over 45

Companies pay rental income tax at the corporate tax rate of 29%.

Sale

Capital gains tax on the sale of real estate by individuals has been suspended until 31 December 2017. Companies pay capital gains tax at the corporate tax rate of 29%.

Donation and inheritance

For close relatives there is an inheritance tax of 1% to 10% of the property cadastral value after the deduction of a tax-free portion. For other heirs, the tax rate reaches 40%.

The gift tax rate runs at 10%, 20% or 40%, depending on the relationship between the donor and the recipient.

Disclaimer: the information in the above article is for reference and may be subject to change over time. Persons interested in exact calculations should contact a certified tax specialist in Greece before purchasing property there.

 
 
Free advice on real estate in Greece
Alexandru-Viorel Hincu
Property Advisor
+44 20 3608 1267
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