Overseas property

Greece property tax for foreigners in 2023

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Asset transfer tax


Real estate tax of the cadastral value per annum


Capital gains tax of the increased value


When purchasing a Greek property, the buyer pays either a transfer tax or VAT. The same rules apply regardless of whether the property is purchased in the name of a company or an individual.

The tax type and rate depend on the characteristics of the property purchased. When buying a property that has been occupied or the permit for the construction of which has been issued after January 1, 2006, VAT is to be paid at a rate of 24%. This year, the Greek authorities have introduced a number of changes that improved the investment climate in Greece, including VAT regulations. For instance, in 2020 – 2022, new-built apartments can be purchased with no VAT accrued. The regulation will apply to the properties whose construction permits have been obtained after January 1, 2016 and those to be built before December 31, 2020.

In the rest of the cases, the buyer pays 3.09% (3% being the transfer tax rate with a municipal tax levied at 0.09%) of the property cadastral value or the purchase price, whichever is higher. The tax is paid by the buyer before closing the transaction: the documentary proof of the tax payment has to be provided to the notary in advance.

Additional expenses include notary, registration, legal and the Greek real estate agent’s fees.

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The Single Property Tax (ENFIA) is an annual property tax in effect since January 1, 2014. Individuals and legal entities pay the tax according to different formulas. 

ENFIA has two components: the main and the additional parts. The main part ranges from €0.001 to €13/m², the amount is determined by a number of factors: area, cadastral value, building date and so on. 

For legal entities, the additional levy is fixed at 0.55% of the property's cadastral value. There are also preferential tax rates, of 0.1% of the cadastral value, for instance, if the property is used for trading activities of a company or of 0.35% if owned by a non-profit organisation meeting certain requirements. Individuals pay the additional levy at a rate ranging from 0% for the properties below €250,000 in value to 1.5% for those worth over €2M. 

In addition, an annual municipal property tax exists. Its rate ranges from 0.025% to 0.035% depending on the property location.

The owner also pays other fees and charges for trash removal, public area cleaning, lighting and others; and bears the rest of the expenses related to property use.

The Special Real Estate Tax (SRET) is a special tax paid by the companies owning Greek real estate. The rate equals to 15% of the property's cadastral value. Companies can get a tax exemption when disclosing the names of all its beneficiaries and organising the reception of Greek tax identification numbers by those or when the active income (from commerce and service delivery) exceeds the passive income (rent, dividends, interest).

The rental income tax rate depends on whether the income is obtained by a company or an individual. Individuals pay a short-term rental income tax at rates from 15% to 45% depending on the income amount. Property maintenance costs estimated at 5% are deducted from the tax base by default.

Annual income, €

Tax rate, %

12,000 and under


12,001 – 35,000


35,001 and over


Companies pay a rental income tax at the corporate tax rate of 24%, with the property maintenance costs completely deducted.


The capital gains resulting from selling real estate are taxed differently for companies and individuals.

Till December 31 2022 Greece will not levy a capital gains tax if the property is sold by an individual and the following restrictions are respected: one person sells no more than two properties within two years, and the sale is not a business activity.

Meanwhile, if the sales proceedings are recognised as an entrepreneurial income, the rates will depend on the amount received:

Annual income, €

Tax rate, %

0 – 20,000


20,001 – 30,000


35,001 – 40,000


40,001 and over 45

Companies pay a capital gains tax at a rate of 24%. The tax is collected on the margin between on the proceeds from sale and the property value specified in the balance sheet.

Transfer by inheritance

According to the Greek tax legislation, the inheritance tax rate is calculated on the basis of the heritable property's current value. The tax rate varies significantly depending on the degree of relationship between the estate-leaver and the inheritor as well as some other factors, such as the heir's disability. The rates range from 1% to 40%, with the tax-deductible amount also depending on the degree of relationship.

For instance, for the spouse, parents, children, grandchildren of the estate-leavers the initial amount is €150,000 per person. Each of them can receive a part of the inheritance of up to €150,000 without paying the tax.

Value, €

Tax rate, %

Category A: Spouses, children, grandchildren, parents









Category B: Greatgrandchildren and their descendants, gransdparents, great-grandparents, brothers and sisters, brothers and sisters, nephews and nieces.









Category C: (other relatives)









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