Greek Property Taxation Guide

3.09%

Asset transfer tax

0.5%

Real estate tax of the cadastral value per annum

0%

Capital gains tax of the increased value

Real Estate Santorini Greece Sale Rent taxation 01

1. Purchasing Tax

Transfer Tax vs. VAT

  • Standard transfer tax: 3.09% (3% base + 0.09% municipal tax)
  • Applies to most existing properties
  • Based on higher of cadastral value or purchase price
  • Must be paid before transaction closing
  • Applies to both individual and corporate buyers

VAT Regulations

  • Standard VAT rate: 24%
  • Special 2020-2022 exemption:
  • No VAT on new-built apartments
  • Applies to properties with construction permits after January 1, 2016
  • Applies to properties built before December 31, 2020

2. Annual Ownership Taxes

Single Property Tax (ENFIA)

Main Component

  • Range: €0.001 to €13/m²
  • Factors affecting rate:
  • -Area
  • -Cadastral value
  • -Construction year

Additional Component

For Individuals:

  • Below €250,000: 0%
  • Over €2M: up to 1.5%

For Legal Entities:

  • Standard rate: 0.55% of cadastral value
  • Preferential rates:
  • 0.1% for company trading activities
  • 0.35% for qualifying non-profit organizations

Municipal Property Tax

  • Rate: 0.025% to 0.035%
  • Varies by property location
  • Additional fees include:
  • Trash removal
  • Public area cleaning
  • Lighting

Special Real Estate Tax (SRET)

  • Rate: 15% of cadastral value
  • Applies to companies owning Greek property
  • Exemptions available if:
  • Company discloses all beneficiaries
  • Beneficiaries obtain Greek tax identification numbers
  • Active income exceeds passive income

3. Rental Income Taxation

Individual Rates

Short-term rental income tax rates:

Annual Income (€)Percentage of Tax Rate
12,000 and under15%
12,001 – 35,00035%
35,001 and over45%
  • 5% maintenance costs deducted by default
  • New VAT requirement (from January 2024):
  • 13% VAT for owners with 3+ short-term rental properties
  • Applies to Airbnb-type accommodations

Corporate Rates

  • Flat rate: 24%
  • Full deduction of maintenance costs

4. Capital Gains Tax (Sale)

Taxation of capital gains income from transferring immovable property has been suspended up to 31.12.2024

5. Inheritance Tax

Tax-Free Thresholds and Rates

Category A (Spouse, children, grandchildren, parents)

  • Tax-free: First €150,000
  • Subsequent rates:
  • Next €150,000: 1%
  • Next €300,000: 5%
  • Above: 10%

Category B (Great-grandchildren, grandparents, siblings, nieces/nephews)

  • Tax-free: First €30,000
  • Subsequent rates:
  • Next €70,000: 5%
  • Next €200,000: 10%
  • Above: 20%

Category C (Other relatives)

  • Tax-free: First €6,000
  • Subsequent rates:
  • Next €66,000: 20%
  • Next €195,000: 30%
  • Above: 40%
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