The acquisition of property in Greece is subject to various types of tax, each governed by different provisions and, as a rule, already payable before the contract is concluded.
The real estate transfer tax itself only becomes due on the notarial conclusion of the purchase contract; it does not yet arise on the notarial execution of a preliminary contract.
The objective value (Einheitswert) as the tax base
To determine the real estate transfer tax, the purchase price stated by the parties in the purchase contract is, in principle, used as the basis. Because a price lower than the price actually agreed was frequently notarised in the past, the Greek legislature has developed a system for the objective determination of value (the so-called objective value, antikimeniki axia). Where the purchase price stated in the contract is lower than the officially determined objective value of the property, taxation nevertheless proceeds on the basis of the higher objective value.
The objective value is set separately for each property by reference to various criteria, such as location (“zone value”), floor area, floor level (for flats), frontage length (for shops), and the availability of heating systems or lifts. In the past, the objective value in many places lay significantly below the actual market value; following several upward adjustments, no serious deviations now remain in most regions.
Real estate transfer tax (FMA)
The real estate transfer tax (Foros Metavivasis Akinitou, FMA) is payable on every acquisition of property for consideration, and on the acquisition of a right in rem in a property (Article 1 of Law 1587/1950), unless VAT is payable instead. The buyer is liable for the tax and must pay the amount to the competent tax office before notarial authentication.
The tax rate is 3% of the purchase price, or of the objective value if higher. In addition, a municipal charge of 3% of the tax amount applies, giving an effective overall burden of around 3.09%.
Law 1078/1980 provides for an exemption from the real estate transfer tax on the first acquisition of a family home, provided the buyer (or their spouse or minor children) does not already own another property suitable to meet their housing needs. The tax-free allowances are €200,000 for single persons and €250,000 for married persons, plus €25,000 for each of the first two children and €30,000 for each further child. For the acquisition of undeveloped plots, reduced allowances of €50,000 (single persons) or €100,000 (married persons) apply, plus €10,000 or €15,000 per child respectively.
FAQ
Greek inheritance law is governed by the Civil Code (ΑΚ). It distinguishes, in principle, between testate succession (by will) and intestate succession, where no will exists. As under German law, the transfer of the estate to the heirs takes effect immediately upon the death of the deceased; for registration in the land registry or cadastre, however, active acceptance of the inheritance (generally in notarial form) is required in Greece.
Intestate succession proceeds by classes:
- 1st class: children and grandchildren of the deceased.
- 2nd class: parents and siblings.
- 3rd class: grandparents.
- 4th class: great-grandparents.
The surviving spouse inherits one quarter (1/4) alongside relatives of the 1st class, and one half (1/2) alongside relatives of the 2nd, 3rd, and 4th classes. Where no relatives of the first four classes exist, the spouse inherits the entire estate.
In Greece, children, parents, and the surviving spouse have a right to a forced share (“Nomimi Moira”) if they have been disinherited by will or unfairly disadvantaged. The forced share generally amounts to half of the statutory inheritance share. Under Greek law, this claim is structured as a right in rem — the person entitled to the forced share thus becomes a direct co-owner of the estate, unlike the purely personal (obligatory) forced-heirship claim under German law.
An inheritance can be renounced within a period of four months if the deceased's last place of residence was in Greece. Where the deceased lived abroad, or the heir is resident abroad, this period is extended to twelve months. If the deadline is missed, the inheritance is deemed accepted. Acceptance can also be declared “under benefit of inventory”, which limits the heir's liability to the value of the estate.
Inheritance tax is governed by Law 2961/2001 (the Inheritance, Gift, and Parental Gift Tax Code), is progressively structured, and depends on the degree of kinship and the value of the inheritance. There are three tax categories:
- Category A: spouses, children, grandchildren, and parents — the highest allowances apply here.
- Category B: more distant relatives (including siblings, nieces/nephews, grandparents, step-parents, children-in-law, parents-in-law).
- Category C: all other heirs and persons unrelated to the family.
Current note: the tax-free allowances for Category A have been significantly raised in recent years in the course of several tax reforms. Because the specific allowances and tax rates have changed repeatedly, we recommend checking the currently applicable figures with the Greek tax administration (ΑΑΔΕ) or your tax adviser before calculating any specific tax liability.
The tax return must, in principle, be filed with the competent tax office within six months of the death; where the deceased's last residence was abroad, or the heir resides abroad, this period is extended to twelve months. The assessed inheritance tax can generally be paid in up to twelve equal instalments every two months (minimum instalment €500, except for the final instalment).
The most important tax on acquisition is the real estate transfer tax (FMA). It currently amounts to 3% (plus the municipal charge, an effective rate of around 3.09%) of the value stated in the purchase contract. Where the state-determined “objective value” (Antikimeniki Axia) of the property is higher than the actual purchase price, this forms the basis for calculation.
The tax return must be filed, and the tax paid, before the notarial purchase contract is signed. This is now done digitally via the state platform myPROPERTY. The notary may not authenticate the contract until the digital proof of payment from the tax office has been produced.
ENFIA is an ongoing tax that every owner of a property in Greece must pay annually, regardless of their place of residence. It essentially consists of:
- Main tax: based on the location, floor area, use, age, and floor of the property.
- Surcharge: an additional tax surcharge applies to natural persons once the total objective value of their Greek property holdings exceeds €500,000; a separate surcharge additionally applies to individual properties with an objective value above €400,000.
Capital gains tax of 15% on the profit from a disposal is currently suspended for private individuals until 31 December 2026. Profits from a sale therefore remain, in principle, tax-free for private individuals up to that date, subject to a possible further extension.
The amount varies considerably by region. In rural areas it may amount to a few hundred euros, while in sought-after locations it can be significantly higher. Tax assessments are made available annually via the electronic tax portal myAADE and can be paid in up to twelve monthly instalments.
Yes, income from letting and leasing is subject to Greek income tax. Since 1 January 2026, the following progressive scale applies:
- 15% for income up to €12,000
- 25% for income from €12,001 to €24,000
- 35% for income from €24,001 to €35,000
- 45% for income above €35,000
Greece has a capital gains tax of 15% on the profit made by private individuals on the sale of property. Its application has, however, been suspended for years, currently until the end of 2026, in order to keep the property market attractive. Before any sale, it should be checked whether the suspension is still in force.
Greece participates in the automatic exchange of information on financial accounts. In addition, properties are recorded in the national land registry (Ktimatologio) and in the tax register (Form E9). Failure to declare leads to fines, back payments, and difficulties on a later sale or in the event of inheritance.
As of June 2026. All information on these pages is provided without guarantee or liability.