Until 2007, properties of particularly high value were subject to a special property tax, which applied only when the aggregate value of owned properties exceeded a defined threshold. If the value of the immovable property was below that threshold, no property tax was imposed.
In 2008 and 2009, this regime was abolished. In its place, a unified property-ownership levy (ETAK) was introduced. The key difference was that ETAK applied to all properties, except for the taxpayer’s primary residence.
As part of the 2010 legal reforms, ETAK was replaced by the wealth tax. In the same year, a special tax on electrified areas was introduced, collected together with electricity bills. Both the wealth tax and the special electrified-area tax remained in effect through 2013.
The property wealth tax is calculated separately for each property. Taxpayers include:
- Full owners
- Bare owners (where a usufruct exists)
- Usufructuaries
- Persons holding a right of habitation
- Persons who, by contractual right, have exclusive use of parking spaces, ancillary rooms, swimming pools, storage areas, entrance areas, attics, or other auxiliary or standalone facilities.
Tax liability applies to all individuals and entities, regardless of nationality, domicile, or place of residence, for properties located in Greece as of 1 January of the relevant tax year. Changes in ownership occurring later in the same year are not taken into account for that tax period. Tax subjects include:
- Persons who have purchased or otherwise acquired a property, regardless of whether the ownership title has been registered in the land registry.
- Persons entitled under a preliminary agreement to transfer ownership of real estate and to conclude the final contract without the prior owner’s consent. Excluded are preliminary agreements with construction companies and properties subject to litigation.
The taxable value is the value of the property or of the associated in rem rights as of 1 January of the relevant tax year.
For natural persons, the value of a usufruct is calculated as a fraction of the property’s total value, depending on the usufructuary’s age:
- 8/10 up to age 20
- 7/10 up to age 30
- 6/10 up to age 40
- 5/10 up to age 50
- 4/10 up to age 60
- 3/10 up to age 70
- 2/10 up to age 80
- 1/10 from age 81 onward
If the usufructuary is a legal entity, 8/10 of the property’s total value is used. The tax on the remainder, after deducting the value of the usufruct, is payable by the owner. The value of a right of habitation is calculated analogously; the residual value for the owner is determined in the same way.
Property tax is calculated separately for each property by multiplying the following coefficients:
- Base tax, on the basis of objective values, according to the applicable schedule. If a property is located in a locality without an objective value, the tax is calculated using the lowest value applicable to the respective city.
- Property‑age coefficient (based on building permit), according to the applicable schedule.
- Reduction coefficient for larger properties, depending on area.
- Floor coefficient.
- Facade coefficient: 1 if no facade; 1.02 with one facade; 1.03 for two or more facades.
- Ancillary areas such as storage are calculated with a coefficient of 0.1.
- For raw or partially finished properties, a coefficient of 0.4 applies.
Floor coefficient (illustrative):
| Floor | Coefficient |
| Basement | 0.98 |
| Ground floor and 1st floor | 1.00 |
| 2nd and 3rd floors | 1.01 |
| 4th and 5th floors | 1.02 |
| 6th floor and above | 1.03 |
For plots within a town plan, the value per sq m equals the taxable value divided by total area. The taxable value is calculated under the objective‑value rules, taking into account the plot factor, overall plot‑price factor, and use factor, as well as the facade coefficient (e).
Base tax per objective value (EUR/sq m) – within town plan:
| Objective value (€/sq m) | Tax group | Base tax (€/sq m) |
| 0.01 – 6.00 | 01 | 0.0037 |
| 6.01 – 20.00 | 02 | 0.0075 |
| 20.01 – 50.00 | 03 | 0.0125 |
| 50.01 – 75.00 | 04 | 0.0185 |
| 75.01 – 100.00 | 05 | 0.0375 |
| 100.01 – 150.00 | 06 | 0.0750 |
| 150.01 – 200.00 | 07 | 0.1850 |
| 200.01 – 300.00 | 08 | 0.2470 |
| 300.01 – 400.00 | 09 | 0.3700 |
| 400.01 – 600.00 | 10 | 0.5550 |
| 600.01 – 800.00 | 11 | 0.7400 |
| 800.01 – 900.00 | 12 | 0.9900 |
| 900.01 – 1,000.00 | 13 | 1.2500 |
| 1,000.01 – 1,500.00 | 14 | 1.6000 |
| 1,500.01 – 2,000.00 | 15 | 2.3500 |
| 2,000.01 – 3,000.00 | 16 | 3.7000 |
| 3,000.01 – 4,000.00 | 17 | 4.9500 |
| 4,000.01 – 5,000.00 | 18 | 7.4000 |
| > 5,000.01 | 19 | 9.2500 |
For plots outside a town plan, the property tax is calculated as follows: the base tax is EUR 0.001 per sq m (EUR 1 per 1,000 sq m), multiplied by the following coefficients: (a) location; (b) use; (c) irrigation: 1.1; (d) expropriation: 0.75; (e) housing coefficient of 5 if there is a building on the plot.
Location coefficient (outside town plan):
| Initial base value (€/sq m) | Location coeff. |
| 0.10 – 0.49 | 1.0 |
| 0.50 – 0.99 | 1.1 |
| 1.00 – 1.99 | 1.2 |
| 2.00 – 2.99 | 1.3 |
| 3.00 – 4.99 | 1.5 |
| 5.00 – 6.99 | 1.7 |
| 7.00 – 9.99 | 2.0 |
| 10.00 – 14.99 | 2.3 |
| 15.00 – 19.99 | 2.5 |
| ≥ 20.00 | 3.0 |
Use coefficient (outside town plan):
| Plot use | Use coeff. |
| Forest or woodland | 0.1 |
| Pasture/non‑usable areas | 0.5 |
| Annual crops or nurseries/regeneration of agricultural land | 2.0 |
| Mines/quarries | 5.0 |
| Outdoor exhibitions/parking/entertainment areas | 8.0 |
An additional property tax is calculated for a person’s in rem rights in each property, according to the applicable schedule.
Additional property tax scale:
| Taxable amount (€) | Rate |
| 0.01 – 400,000 | 0.00% |
| 400,000.01 – 500,000 | 0.20% |
| 500,000.01 – 600,000 | 0.30% |
| 600,000.01 – 700,000 | 0.40% |
| 700,000.01 – 800,000 | 0.50% |
| 800,000.01 – 900,000 | 0.60% |
| 900,000.01 – 1,000,000 | 0.70% |
| 1,000,000.01 – 2,000,000 | 0.90% |
| Above | 1.00% |
(As of March 2023. All information provided without guarantee.)