Greece Property Purchase Taxes & Total Cost Guide

Why Greece remains an attractive property market

Greece offers a unique combination of Mediterranean lifestyle, relatively low entry prices compared with other EU destinations and a transparent legal framework that now welcomes foreign investors. Since the introduction of the Golden Visa programme in 2020, demand for residential and commercial real‑estate has risen sharply, especially on islands such as Mykonos, Santorini and in the Attica region.

The Golden Visa – a quick tax overview

Investment thresholds and location tiers

• €250 000 – eligible for any property that involves commercial‑to‑residential conversion or listed‑building restoration, no 120 m² size restriction.
• €400 000 – most regions of the country; the property must be a single residential unit with a minimum surface area of 120 m².
• €800 000 – Attica, Thessaloniki and popular islands such as Mykonos or Santorini; also requires at least 120 m².

The programme grants a renewable five‑year residence permit that allows free movement throughout the Schengen zone. It does not lead directly to citizenship, and holders must refrain from short‑term or Airbnb style letting on the purchased property.

What the visa actually gives you

• Five‑year EU residence permit, renewable as long as the investment is retained.
• Right to live anywhere in Greece and travel visa‑free within Schengen countries.
• Full freehold ownership – foreigners can own land and buildings outright.

Understanding purchase taxes

Transfer tax versus VAT

If you buy a resale property, the transaction is subject to a property transfer tax (commonly called “real estate transfer tax”). For newly built homes sold by a developer, value‑added tax (VAT) replaces the transfer tax. The choice between the two depends on the seller’s status and whether the building has an occupancy certificate.

Current rates (2024)

Property type	Tax base	Rate
Resale residential	Official property value (Δ.Α.Π.)	3 % of the declared value
New residential (VAT‑registered developer)	Sale price	24 % VAT (reduced 13 % for certain energy‑efficient units)
Commercial conversion or restoration	Official value + renovation cost	3 % transfer tax

The official property value is usually lower than the market price, but buyers must declare a realistic amount to avoid penalties. For Golden Visa purchases, most investors opt for the 3 % transfer tax route because it keeps the upfront cash outlay lower.

Notary and legal fees

The Greek notary is a public official who drafts the purchase contract, verifies identities and ensures that the title is clean. Notary fees are calculated on a sliding scale from 0.5 % to 1 % of the transaction value, plus a fixed administrative charge of roughly €150‑€300.

Hiring a specialised property lawyer is highly recommended. Legal fees typically range between 0.8 % and 1.2 % of the purchase price and cover due‑diligence checks, verification of building permits, and coordination with the notary and land registry.

Registration & miscellaneous costs

• Land‑registry (hypothec) registration – €150‑€300 plus a 0.1 % stamp duty on the purchase price.
• Real‑estate agency commission – usually 2 % to 3 % of the agreed sale price, payable by the buyer unless otherwise negotiated.
• Surveyor or architect inspection (optional but advisable) – €300‑€800 depending on property size.

Ongoing annual taxes

• ENFIA – Unified Property Tax: calculated on the property's assessed value, with rates ranging from 0.1 % to 1.15 %; most residential units fall between 0.15 % and 0.35 %.
• Municipal taxes: a small annual levy (typically €50‑€150) for waste collection and local services.
• Income tax on rentals: if you decide to let the property long‑term, rental income is taxed at progressive rates from 15 % to 45 %, after deducting allowable expenses.
• Capital gains tax (CGT): payable upon resale; a flat rate of 15 % applies on the profit after accounting for inflation‑adjusted acquisition cost and eligible improvements.

Total cost example – €400 000 residential purchase in Attica

Item	Estimated amount (€)
Purchase price	400,000
Transfer tax (3 %)	12,000
Notary fees (0.7 %)	2,800
Lawyer fees (1 %)	4,000
Land‑registry & stamp duty	600
Agency commission (2.5 %)	10,000
Surveyor inspection	500
Total upfront cost	429,900

The example shows that taxes and fees add roughly 7‑8 % to the headline price. Ongoing ENFIA for a property of this size would be around €600‑€800 per year, plus any municipal charges.

How Resida Global can help

Navigating Greece’s tax landscape requires precise calculations and timely documentation. Resida Global offers end‑to‑end support – from selecting the right Golden Visa tier to coordinating notaries, lawyers and registration offices. Their local expertise ensures that you pay only the legally required amounts and avoid unexpected penalties.

Key takeaways

• The Golden Visa programme has three clear investment thresholds; each comes with geographic restrictions.
• Resale properties attract a 3 % transfer tax, while new builds are subject to VAT (24 % or reduced 13 %).
• Notary and legal fees together normally range between 1.5 % and 2 % of the purchase price.
• Annual ENFIA and municipal taxes represent the main recurring costs for owners.
• Professional guidance, such as that offered by Resida Global, streamlines the process and safeguards your investment.

Purchasing a home in Greece can be financially rewarding when you understand the full cost structure. By accounting for transfer tax, notary, legal and ongoing taxes from day one, you’ll be better positioned to enjoy your Mediterranean lifestyle without surprise expenses.

Frequently Asked Questions

What is the difference between transfer tax and VAT when buying property in Greece?

Transfer tax applies to resale properties and is set at 3 % of the official property value. VAT applies to new builds sold by developers, typically 24 % (or a reduced 13 % for energy‑efficient units).

How much can I expect to pay in notary and lawyer fees on a €300,000 purchase?

Notary fees range from 0.5 % to 1 %, while lawyer fees are usually between 0.8 % and 1.2 %. Together you should budget roughly 1.3 %‑2.2 % of the price, i.e., €4,000‑€6,600.

Are there any ongoing taxes after I acquire a Greek property?

Yes. Owners pay ENFIA (property tax), a small municipal waste levy, income tax on rental earnings and a 15 % capital gains tax when the property is sold at a profit.

Can I rent out my Golden Visa property on Airbnb?

No. The Golden Visa programme expressly prohibits short‑term or holiday‑let rentals; only long‑term leasing is permitted for visa‑holding owners.

Does Resida Global handle the entire purchase process?

Resida Global provides comprehensive assistance, including property search, due diligence, coordination with notaries and lawyers, registration support and help with Golden Visa applications.