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Taxes in Greece

3.09%

Asset transfer tax

0.5%

Real estate tax of the cadastral value per annum

0%

Capital gains tax of the increased 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 28%.

Sale

Capital gains tax on the sale of real estate by individuals has been suspended until 31 December 2019. The sale of subsequent properties can be considered a commercial activity and taxed at a 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.

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