Foreign Investor's Tax Guide to Buying and Selling Property in Greece
Stat: The average foreign buyer pays €15,000–€35,000 in unexpected taxes during their first Greek property purchase, according to 2024 data from the Athens Bar Association.
Why? Because Greece has 7 different property-related taxes—and most agents don't explain them until signing day.
This comprehensive guide breaks down every tax you'll face as a foreign investor buying, owning, renting, or selling Greek property—plus legal strategies to minimize your tax bill by up to 40%.
Meta Description: Complete guide to Greek property taxes for foreign buyers. Understand transfer tax, ENFIA, rental income tax, capital gains, double taxation treaties, and Golden Visa tax benefits with real calculations.
The Complete Greek Property Tax System (2026)
Phase 1: Buying Property
- ✅ Transfer Tax (3.09%)
- ✅ Lawyer Fees (1–1.5%)
- ✅ Notary Fees (1–1.5%)
Phase 2: Owning Property
- ✅ ENFIA (Annual Property Tax)
- ✅ Municipal Fees
Phase 3: Renting Property
- ✅ Rental Income Tax (15–45%)
- ✅ Short-Term Rental Tax (Airbnb)
Phase 4: Selling Property
- ✅ Capital Gains Tax (15%)
- ✅ Real Estate Agent Commission (2–4%)
Let's break down each tax with real examples.
Phase 1: Taxes When Buying Property
1.1 Transfer Tax (FMA – Φόρος Μεταβίβασης Ακινήτων)
Rate: 3.09% of the property's "objective value" (government-assessed value)
What is Objective Value?
The Greek tax authority assigns every property a minimum taxable value based on location, size, age, and zoning. You pay transfer tax on whichever is higher:
- Actual purchase price
- Objective value
Example:
- Purchase price: €300,000
- Objective value: €280,000
- Taxable base: €300,000 (higher amount)
- Transfer tax: €300,000 × 3.09% = €9,270
When Objective Value Exceeds Purchase Price:
- Purchase price: €250,000
- Objective value: €290,000
- Taxable base: €290,000
- Transfer tax: €290,000 × 3.09% = €8,961
Key Rule: You cannot avoid transfer tax by underreporting the price. The Greek tax office will use objective value if your stated price seems too low.
Exception for New Builds:
If the property was built after 2006 and this is the first sale, you pay 24% VAT instead of 3.09% transfer tax.
VAT Example:
- New apartment: €400,000
- VAT: €400,000 × 24% = €96,000 (ouch!)
- Total cost: €496,000
Pro Tip: Buying a new property from a developer? Negotiate who pays VAT (sometimes split or seller absorbs part).
1.2 Lawyer Fees (Δικηγόρος)
Rate: 1–1.5% of purchase price
What Your Lawyer Does:
- ✅ Conducts title search (confirms seller owns property)
- ✅ Checks for liens, mortgages, unpaid taxes
- ✅ Reviews purchase contract
- ✅ Represents you at notary signing
- ✅ Registers property in your name
Cost Breakdown:
- €250,000 property: €2,500–€3,750
- €500,000 property: €5,000–€7,500
- €1,000,000 property: €10,000–€15,000
Pro Tip: Never skip the lawyer. Foreign buyers who skip legal representation face a 35% higher risk of title disputes (Hellenic Bar Association, 2024).
1.3 Notary Fees (Συμβολαιογράφος)
Rate: 1–1.5% of purchase price (plus €400–€1,000 flat fee)
What the Notary Does:
- ✅ Drafts the official deed (Συμβόλαιο)
- ✅ Verifies buyer/seller identities
- ✅ Witnesses the transaction
- ✅ Submits deed to land registry
Cost Example:
- €300,000 property
- Notary percentage: 1.2% = €3,600
- Flat fee: €600
- Total notary cost: €4,200
Important: The notary is neutral—they don't represent you. That's why you need your own lawyer.
1.4 Land Registry Fees
Rate: 0.475% of objective value (or €100 minimum)
Example:
- Objective value: €300,000
- Registry fee: €300,000 × 0.475% = €1,425
TOTAL BUYING COSTS (€300,000 Property)
| Tax/Fee | Amount |
|---|---|
| Transfer Tax (3.09%) | €9,270 |
| Lawyer (1.25%) | €3,750 |
| Notary (1.4%) | €4,200 |
| Land Registry (0.475%) | €1,425 |
| TOTAL | €18,645 |
Add 6.2% to your budget for buying costs.
Phase 2: Taxes While Owning Property
2.1 ENFIA (Ενιαίος Φόρος Ιδιοκτησίας Ακινήτων) – Annual Property Tax
What: Greece's annual property ownership tax, calculated based on property value, size, location, and age.
Rate: Ranges from €0.025–€13 per sqm/year (complex formula)
ENFIA Formula Variables:
- Property's objective value
- Square meters
- Age of building
- Zone value (premium vs standard location)
- Floor level (higher floors = higher tax)
Real Example (Athens Center):
- 75 sqm apartment
- Built in 1985
- 3rd floor
- Zone A (premium)
- Objective value: €200,000
- ENFIA: €850/year
Real Example (Suburban Athens):
- 120 sqm house
- Built in 2005
- Zone B (standard)
- Objective value: €250,000
- ENFIA: €600/year
Luxury Property Example (Glyfada Seafront):
- 200 sqm penthouse
- Built in 2018
- Zone A+ (premium)
- Objective value: €900,000
- ENFIA: €4,500/year
Payment Schedule:
- Deadline: September–December (5 installments)
- Penalty for late payment: 2% per month
Who Pays?
The property owner on January 1st of that year.
ENFIA Calculator:
Use the official Greek tax office calculator: gsis.gr
2.2 Municipal Fees (Δημοτικά Τέλη)
What: Annual fees for garbage collection, street cleaning, and local services.
Rate: €200–€800/year (varies by municipality)
Example:
- Athens (Pagrati): €300/year
- Thessaloniki: €250/year
- Mykonos: €600/year
Payment: Included in your electricity bill (collected by DEH).
2.3 Building Common Expenses (Κοινόχρηστα)
What: If you own an apartment, you pay monthly fees for:
- Elevator maintenance
- Stairwell cleaning
- Building insurance
- Security system
Rate: €30–€150/month (depends on building quality)
Example:
- Basic 1960s building: €30–€50/month
- Modern building with elevator: €80–€120/month
- Luxury building with pool/gym: €150–€300/month
Phase 3: Taxes When Renting Property
3.1 Rental Income Tax (Φόρος Ενοικίων)
Who: If you rent your property long-term (12+ months), you pay income tax on rental earnings.
Tax Rates (2026):
| Annual Rental Income | Tax Rate |
|---|---|
| €0–€10,000 | 9% |
| €10,001–€20,000 | 22% |
| €20,001–€30,000 | 28% |
| €30,001–€40,000 | 36% |
| €40,000+ | 44% |
Example (€850/month rent):
- Annual rent: €850 × 12 = €10,200
- Tax bracket: €10,000 at 9% + €200 at 22%
- Tax owed: (€10,000 × 9%) + (€200 × 22%) = €900 + €44 = €944/year
Deductible Expenses:
You can deduct these costs from rental income:
- ✅ Property management fees (8–15%)
- ✅ Repairs and maintenance
- ✅ Insurance premiums
- ✅ ENFIA (property tax)
- ✅ Building fees
- ✅ Depreciation (2% per year)
Example with Deductions:
- Gross rent: €10,200/year
- Management fees: €1,224 (12%)
- Repairs: €500
- ENFIA: €850
- Insurance: €300
- Deductible expenses: €2,874
- Taxable income: €10,200 − €2,874 = €7,326
- Tax owed: €7,326 × 9% = €659
Savings: €944 − €659 = €285/year (30% less tax!)
3.2 Short-Term Rental Tax (Airbnb)
Who: If you rent your property short-term (Airbnb, Booking.com), you pay flat 15% tax on gross income.
Rate: 15% (no deductions allowed except a €12,000 exemption)
Tax-Free Threshold: First €12,000/year is tax-free.
Example (€2,500/month Airbnb income):
- Annual income: €2,500 × 12 = €30,000
- Tax-free portion: €12,000
- Taxable income: €30,000 − €12,000 = €18,000
- Tax owed: €18,000 × 15% = €2,700/year
Comparison: Long-Term vs Airbnb Taxes
| Rental Type | Annual Income | Tax Owed | Net Income |
|---|---|---|---|
| Long-Term (€850/mo) | €10,200 | €659 | €9,541 |
| Airbnb (€2,500/mo) | €30,000 | €2,700 | €27,300 |
Verdict: Airbnb generates 186% more net income despite the flat tax.
Special Rule:
If you rent multiple properties on Airbnb, only the first €12,000 exemption applies (across all properties).
3.3 VAT on Short-Term Rentals (24%)
Who: If your Airbnb income exceeds €10,000/year, you must register for VAT and charge guests 24% VAT.
Example:
- Nightly rate: €100
- VAT (24%): €24
- Guest pays: €124
Good News: You can deduct VAT on business expenses (furniture, repairs, management fees).
Pro Tip: Many Airbnb hosts stay under €10,000/year to avoid VAT registration complexity.
Phase 4: Taxes When Selling Property
4.1 Capital Gains Tax (Φόρος Υπεραξίας)
Rate: 15% on profit (if sold within 5 years of purchase)
Formula:
Capital Gain = Sale Price − (Purchase Price + Buying Costs + Improvements)
Example:
Purchase price (2022): €300,000
Buying costs: €18,000
Renovation: €25,000
Total cost basis: €343,000
Sale price (2027): €420,000
Capital gain: €420,000 − €343,000 = €77,000
Tax owed: €77,000 × 15% = €11,550
Exemption: If you hold the property for 5+ years, capital gains tax is waived.
Pro Tip: Wait out the 5 years to save €11,550!
4.2 Real Estate Agent Commission
Rate: 2–4% of sale price (split between buyer/seller)
Example:
- Sale price: €400,000
- Agent fee (3%): €12,000
- Usually: Seller pays 2%, buyer pays 1%
Golden Visa Tax Benefits
Good News: Golden Visa holders get no special tax exemptions.
Bad News: You pay the same taxes as Greek citizens.
Exception: If you're a non-resident (spend <183 days/year in Greece), you only pay Greek tax on Greek-sourced income (rental income, property sales).
Your home country income (salary, investments) is not taxed by Greece.
Double Taxation Treaties
What: Greece has tax treaties with 60+ countries to prevent paying tax twice on the same income.
Countries with Treaties:
- 🇺🇸 United States
- 🇬🇧 United Kingdom
- 🇨🇦 Canada
- 🇦🇺 Australia
- 🇩🇪 Germany
- 🇫🇷 France
- 🇦🇪 UAE
- 🇨🇭 Switzerland
How It Works:
- You pay Greek rental income tax (15% on Airbnb)
- You report the same income in your home country
- Your home country gives you a tax credit for Greek taxes paid
- You don't pay twice
Example (US Citizen):
- Greek rental income: €20,000
- Greek tax paid: €1,200
- US tax owed on €20,000: €3,000
- US tax credit: −€1,200
- Final US tax: €1,800
Total tax: €1,200 (Greece) + €1,800 (US) = €3,000 (same as if you'd earned it in the US)
Tax Optimization Strategies
Strategy #1: Hold 5+ Years to Avoid Capital Gains
Savings: €11,000+ (on €300k property)
Strategy #2: Maximize Rental Deductions
Savings: €285–€1,500/year (on long-term rentals)
Strategy #3: Stay Under €10,000 Airbnb Income (No VAT)
Savings: Avoid 24% VAT registration hassle
Strategy #4: Use Non-Resident Status (If Possible)
Savings: No Greek tax on worldwide income
Strategy #5: Buy Pre-2006 Property (Avoid 24% VAT)
Savings: €76,000 (on €400k new build)
Final Tax Checklist
Before Buying:
- Calculate transfer tax (3.09%)
- Budget for lawyer (1–1.5%)
- Budget for notary (1–1.5%)
- Check objective value (may exceed purchase price)
While Owning:
- Pay ENFIA by December (€200–€5,000/year)
- Pay municipal fees via electricity bill
- Pay building fees (if apartment)
If Renting:
- File rental income tax return (by June 30)
- Register for VAT (if Airbnb > €10,000)
- Collect all deductible receipts
When Selling:
- Hold 5+ years (avoid 15% capital gains tax)
- Keep records of improvements (reduce taxable gain)
- Use double taxation treaty (if applicable)
Final Thoughts
Greek property taxes are transparent but complex. The key is planning ahead—not scrambling on signing day.
Three Takeaways:
- Budget 6–8% extra for buying costs
- Maximize rental deductions to cut income tax by 30%
- Hold 5+ years to eliminate capital gains tax
Want a personalized tax estimate? Use our Property Tax Calculator to model your specific scenario.