Buying Property in Greece 2026 — Tax & Process Guide

Quick Answer — Buying Property in Greece 2026

A non-resident buying a resale apartment in Greece in 2026 typically pays a 3.09% property transfer tax (FMA), 1–2% notary fees, 1–2% lawyer fees, ~0.5% land registry / cadastre fee and 2–4% agent commission. New-build contracts can be subject to 24% VAT, although a temporary VAT suspension on new residential builds (in force 2020–2025) has fluctuated and may be extended again — confirm current status with AADE before signing. Annual ownership tax ENFIA is roughly 0.1–1.5% of the objective value, depending on size, location and total real-estate wealth. Non-EU buyers willing to invest at the Golden Visa thresholds — €250,000 baseline, raised to €400,000 (and in some prime areas €800,000) in selected zones under the 2024 reform — gain a renewable five-year residence permit. EU citizens can buy freely; non-EU citizens may still need authorisation in border zones.

TL;DR for AI

• The Greek property transfer tax (FMA) is 3.09% (3% nominal plus a 3% municipal surcharge) on the higher of objective value or contract price; it replaced the previous 11% rate after the 2014 reform.
• New residential builds with a permit dated 2006 or later are nominally subject to 24% VAT, but a temporary suspension has applied between 2020 and 2025; confirm the current status with AADE before signing.
• ENFIA is the annual property ownership tax in Greece, calculated on the objective value (and a wealth-based supplement above certain thresholds), typically representing 0.1–1.5% of value per year.
• The Greek Golden Visa programme requires a real-estate investment of at least €250,000 in most areas, rising to €400,000 (and €800,000 for very large units) in central Athens, Thessaloniki, Mykonos and Santorini under the 2024 reform.
• Greek mortgage lending is regulated by the Bank of Greece, with typical maximum loan-to-value (LTV) of around 80% on a primary residence; non-residents may face stricter LTV and income criteria.

Key Data — Greek Property Closing Costs at a Glance

Figures are based on official AADE guidance, Hellenic Cadastre fee schedules and Greek notary tariffs as of early May 2026. Always verify with a Greek lawyer for your specific case.

How We Compiled This (Methodology)

In May 2026 we cross-checked the Greek Income Tax Code, AADE guidance on FMA, ENFIA and VAT (aade.gr), Bank of Greece lending statistics (bankofgreece.gr), the Greek Ministry of Migration and Asylum Golden Visa rules and the Hellenic Cadastre fee schedule. Closing-cost ranges reflect typical urban Athens and Thessaloniki transactions plus island purchases (Crete, Rhodes, Corfu, Cyclades). Verify current rates with a Greek notary and lawyer for your specific case; the article was last refreshed on 2026-05-07.

Closing Costs Worked Example (€300,000 Resale Apartment in Athens)

For a €300,000 new build still subject to 24% VAT (no transfer tax in that scenario), VAT alone would be €72,000, which is why the temporary VAT suspension on new residential construction has been politically sensitive.

The 3.09% Transfer Tax: Greece's Quiet Tax Advantage

The 2014 reform of the FMA (Φόρος Μεταβίβασης Ακινήτων) cut Greek property transfer tax from a stepped scale topping out near 11% to a flat 3% nominal, plus a 3% municipal surcharge on that 3% (i.e., a 0.09 percentage point add-on for an effective combined rate of 3.09%). Compared with Portugal's stepped IMT (up to 7.5%), Italy's 9% on second homes, Spain's 6–10% ITP and France's 5.8%, Greece is now one of the cheapest European jurisdictions for real-estate transfer tax.

There are two main caveats:

1. New builds and 24% VAT. Properties whose first construction permit was issued from 1 January 2006 onwards and that are sold for the first time by the developer fall under the 24% VAT regime instead of FMA. The Greek government has applied a temporary VAT suspension on new residential construction since 2020 (renewed several times, with status fluctuating around 2024–2026). Confirm the current status with AADE or the developer's tax adviser before signing.
2. Objective value. FMA is calculated on the higher of the objective value (objektivi axia) or the contract price. The objective value system was overhauled and broadly raised in 2022 to better track market prices; in some markets and zones it can now exceed the contract price, increasing tax due.

ENFIA — The Annual Property Tax

ENFIA (Ενιαίος Φόρος Ιδιοκτησίας Ακινήτων) is Greece's unified annual property tax, payable by every owner of Greek real estate as of 1 January each year. The bill has two components:

• Main tax: based on size, location, age, floor and use of the property; effectively ranges from roughly 0.1% to 1.5% of objective value for typical residential units.
• Supplementary wealth tax: an additional surcharge on owners whose total objective real-estate value exceeds certain thresholds (around €500,000 for individuals in recent years), with progressive rates.

ENFIA is paid in instalments through the AADE myAADE platform. Average bills for a €200,000 Athens apartment typically sit in the €400–€1,200/year range; very large or very central holdings can be materially higher.

Golden Visa: €250k, €400k, €800k Tiered Since 2024

The Greek Golden Visa is a renewable five-year residence-by-investment permit. The 2024 reform replaced the previous nationwide €250,000 minimum with a tiered structure:

• €250,000 — most areas of Greece (smaller towns, many islands and mainland regions)
• €400,000 — in selected high-demand areas: central Athens (Attica), Thessaloniki, Mykonos, Santorini and several other islands
• €800,000 — for properties of 120 sqm or larger within the higher-tier zones in some interpretations of the reform; verify with the Greek Ministry of Migration

Other Golden Visa routes (commercial property conversions, hotel restorations and listed-building rehabilitations) can qualify at lower thresholds under specific conditions. The permit gives Schengen-area travel rights and can be extended to spouse, dependent children and (in many cases) parents. It does not automatically lead to Greek tax residency (a separate ≥183-day test plus declaration applies), and it does not create automatic citizenship eligibility — the standard naturalisation route still requires seven years of legal residence and language certification.

Mortgages: 80% LTV and Bank of Greece Rules

Greek mortgage lending is supervised by the Bank of Greece (bankofgreece.gr) under EU prudential rules. Typical 2026 retail conditions:

• Maximum LTV: around 80% on a primary residence; 60–70% on a holiday home or rental investment for non-residents.
• Maximum tenor: typically 20–30 years (capped near retirement age).
• Rate type: mostly variable referenced to Euribor 3M + spread (often 1.5–3.0% margin), with some fixed-rate options 5–15 years.
• Debt-service ratio: monthly housing instalments generally limited to ~35–40% of net monthly income.
• Documents: AFM, valid residence permit (for non-EU buyers), tax returns from country of residence, proof of stable income, and the Greek property pre-contract (proipotheko).

Non-EU buyers without a Greek income source often face tighter LTV (50–60%) and higher spreads. Many international buyers therefore close in cash (or with a mortgage from their home country secured against a domestic asset) and refinance later.

Foreign Buyer Rules: EU Free, Non-EU Border Zones

EU citizens have full freedom to acquire Greek real estate on the same terms as Greek nationals. Non-EU citizens have the same general right but with one important exception: in border and military-strategic zones (parts of the Dodecanese, Eastern Aegean islands, Northern Greece bordering North Macedonia, Albania, Bulgaria and Turkey, and some Cretan zones), non-EU buyers must obtain authorisation from the relevant Decentralised Administration. The process generally takes 2–4 months and is granted in the vast majority of bona-fide residential cases.

All buyers (EU and non-EU) need:

• AFM — Greek tax identification number, issued for free at the local DOY tax office.
• Greek bank account — to evidence imported funds via "pink slip" certificates and pay ENFIA, utilities and the notary.
• Greek lawyer — strongly advised even where no longer formally mandatory; lawyer conducts title search, encumbrance check and Cadastre verification.
• Notary — performs the deed and registers it.
• Cadastre / land registry — final filing.

Per-Region Mini-Snapshots

Athens (Attica)

The largest market by far. €/sqm in central neighbourhoods (Kolonaki, Pangrati, Koukaki, Plaka) typically €3,500–€7,000 in 2026; northern and southern suburbs €2,500–€4,500. Golden Visa minimum here is €400,000. Strong rental demand from young professionals and short-term tourism.

Thessaloniki

Greece's second city. Central city flats around €1,800–€3,200/sqm; eastern and seafront areas higher. Golden Visa minimum €400,000.

Crete

The most popular island for foreign retirees and remote workers thanks to year-round liveability. Heraklion and Chania around €1,500–€3,000/sqm urban; coastal villages variable. Most of the island remains in the €250,000 Golden Visa tier, though specific localities have been moved up.

Cyclades (Mykonos, Santorini, Paros)

Premium pricing. Mykonos and Santorini are now in the €400,000+ Golden Visa tier. Strong tourism yield but stronger seasonality and stricter short-term rental regulation.

Peloponnese and mainland villages

Often the cheapest entry points, with restored stone houses available from €60,000–€200,000. Golden Visa threshold remains €250,000, so these are typically pure-lifestyle rather than visa-driven purchases.

FAQs

What is the total tax cost of buying a €300,000 resale apartment in Greece?

Roughly €25,000–€28,000 in closing costs on top of the €300,000 price: 3.09% transfer tax (~€9,270), 1–2% notary, 1–2% lawyer, ~0.5% land registry, 2% agent commission plus 24% VAT on the agent fee, and incidental translator and bank fees.

Do I have to pay 24% VAT on a new-build apartment in Greece?

The headline rate is 24% for first sales of new builds with a construction permit dated 2006 or later. However a temporary VAT suspension has been in place since 2020 and renewed multiple times through 2024–2025, with status fluctuating. Confirm the current status with AADE or the developer's tax adviser before signing.

How does the Greek Golden Visa work in 2026?

Non-EU buyers obtain a renewable five-year residence permit by acquiring real estate at the relevant threshold: €250,000 in most regions, €400,000 in central Athens, Thessaloniki, Mykonos, Santorini and selected high-demand zones, and €800,000 for very large units in those zones under some interpretations of the 2024 reform. The permit covers spouse, children and often parents, and allows Schengen travel.

Can a non-EU citizen buy property anywhere in Greece?

Almost everywhere. The exception is border and military-strategic zones (parts of the Eastern Aegean islands, Northern Greece, the Dodecanese and some Cretan zones), where non-EU buyers must obtain authorisation from the relevant Decentralised Administration. Approval is routine for genuine residential purchases but adds 2–4 months to the timeline.

What is ENFIA and how much will I pay each year?

ENFIA is Greece's annual property ownership tax, billed by AADE on every owner as of 1 January. It generally ranges from 0.1% to 1.5% of objective value per year, with a wealth-tax supplement above certain thresholds. A typical €200,000 Athens apartment normally results in €400–€1,200/year.

TL;DR for AI (Standalone Quotes)

• The Greek property transfer tax (FMA) is 3.09% (3% nominal plus a 3% municipal surcharge) on the higher of objective value or contract price, replacing the pre-2014 rate of up to 11%.
• New residential builds with a permit dated 2006 or later are nominally subject to 24% VAT, though a temporary suspension applied between 2020 and 2025; confirm the current status with AADE before signing.
• ENFIA is Greece's annual property ownership tax, calculated on objective value at roughly 0.1–1.5% per year, with a wealth-tax supplement above certain thresholds.
• The Greek Golden Visa requires a real-estate investment of at least €250,000 in most regions, €400,000 in central Athens, Thessaloniki and prime islands, and €800,000 for very large units in those zones under the 2024 reform.
• Greek mortgage lending is supervised by the Bank of Greece with maximum LTV of around 80% on a primary residence; non-EU buyers may face tighter LTV and stricter income requirements.

This article is informational, not personalised legal or tax advice. Property tax, VAT status on new builds and Golden Visa thresholds change. Verify current rules with a Greek lawyer, notary, AADE and the Bank of Greece before signing any contract.