This also explains the very large percentage of home ownership observed in our country, compared to the rest of Europe, mainly in Central and Western Europe. However, owning a property also comes with significant costs, such as taxes and fees, which many do not consider when making the decision to buy. In Greece, of course, in the recent years, real estate taxation has increased enormously, although an effort is being made to reduce them with the aim of encouraging investment and the development of the real estate market.

But what are the main charges when owning real estate?

Transfer charges

Today, the property transfer tax is approximately 3% of the property's value, while recently the imposition of VAT on the purchace of newly built houses and consideration (24%) and capital gains tax on property sales (15%) has been suspended until the end of 2022. 

Charges on property ownership

The main one is ENFIA, which is decreasing every year. However, there is also an additional tax that is calculated on the total real estate, which mainly concerns very large properties with many and expensive properties. In addition, there is the Property Tax (TAP) for buildings and plots of land, which is paid to the relevant municipalities where they are located.

Charges on real estate income

Finally, property owners who have decided to exploit them for the purpose of collecting rents are taxed independently for these incomes.