Buying Property in Greece: What It Actually Costs

Transfer Tax (FMA)

Flat 3.09% transfer tax (3% FMA + 0.09% municipal surcharge) on property purchases. Applied to the higher of the cadastral (objective) value or the purchase price. No progressive brackets — the same rate applies regardless of property value or buyer type. New-build properties may be subject to 24% VAT instead, but the VAT suspension (extended to end 2026) means most new builds also pay 3.09%.

What You'll Pay at Transfer

On top of the transfer tax, there are several legal and administrative fees that you need to budget for. Here's what to expect.

Transfer / conveyancing fees

These fees apply whether you're paying cash or taking out a bond.

Bond registration fees (only if you're taking a bond)

If you're financing your purchase with a home loan, the bank's bond also needs to be registered at the Deeds Office. These are the fees for that process.

Your Monthly and Annual Costs as an Owner

The purchase price is just the beginning. As a property owner in Greece, you'll have recurring costs that eat into your rental income. Knowing these upfront helps you model realistic returns.

• ENFIA (Annual Property Tax)

  Unified Real Estate Ownership Tax. Calculated per sq.m. based on zone values, building age, floor, and use. Typical mid-market Athens apartment (~100 sq.m., ~EUR 200K): EUR 500-800/year. 20% discount available if the property is insured (for properties with objective value under EUR 500K).

  annual
  Typically escalates ~2% per year
• Municipal Tax (TAP)

  Municipal cleaning and lighting tax (Telos Akiniton Periousias). Typically 0.025-0.035% of the objective property value. Charged via the electricity bill.

  annual
  Typically escalates ~2% per year
• Property Insurance

  Annual buildings insurance. Typically EUR 200-500/year. Not mandatory but recommended — a 20% ENFIA discount is available for insured properties (from 2025).

  annual
  Typically escalates ~3% per year
• Maintenance & Repairs

  Annual budget for ongoing repairs and maintenance. Typically 1-2% of property value per year.

  annual
  Typically escalates ~3% per year

When You Sell: Capital Gains Tax

Capital gains tax on property sales has been suspended in Greece since 2014. The suspension was extended to 31 December 2026 by Law 5162/2024. If/when reinstated, the rate would be 15% on the gain. Note: frequent property sales classified as "business activity" are taxed at standard income tax rates (15-45%).

Costs of Selling Your Property

When you eventually sell, there are costs that come out of your sale proceeds before you see the cash. Here's what to factor in when modelling your exit.

Buying Property in Greece as a Foreign National

Greece is an increasingly popular destination for foreign property investors, particularly in Athens, the islands, and coastal areas. Key considerations:

• 1 AFM required: You must obtain an AFM (Arithmos Forologikou Mitroou) — Greece's tax identification number. Available from any Greek tax office (DOY) or via a Greek consulate abroad.
• 2 Golden Visa: Non-EU nationals can obtain a 5-year residence permit through property investment. Minimum thresholds: EUR 800,000 in prime zones (central Athens, Thessaloniki, Mykonos, Santorini) or EUR 400,000 elsewhere. Properties must be a single unit of at least 120 sq.m. Golden Visa properties cannot be used for short-term rentals.
• 3 Border zone permits: Non-EU nationals buying in border regions (parts of Northern Greece, Eastern Aegean islands, Dodecanese, parts of Crete) need a permit from the Ministry of National Defence. Approval typically takes 2-6 months and is usually granted.
• 4 Mortgage access: Non-residents can obtain Greek mortgages at 50-65% LTV (vs 70-80% for residents). Rates are typically 3-4.5%. A Greek bank account is required.
• 5 No capital gains tax (for now): CGT on property has been suspended since 2014 and extended to end 2026. When active, the rate would be 15%.
• 6 Timeline: A typical purchase takes 4-8 weeks from signing the preliminary agreement to the final notarial deed. Allow extra time for AFM application and border zone permits if applicable.

Which Property Type Is Right for You?

Different property types come with different income potential, vacancy assumptions, and cost profiles. Here's how the main types compare in our calculator defaults for Greece.