What It Really Costs to Buy a Home in Greece in 2026
The headline is good news: purchase taxes in Greece are currently among the lowest in southern Europe. Most buyers pay a transfer tax of 3.09%, and the 24% VAT that would normally apply to new-build homes is suspended until the end of 2026. What catches people out is everything around the headline rate: the annual ENFIA property tax, professional fees, and the way tax is calculated on official values rather than just the price you agree.
Prices are still moving, too. Bank of Greece data show apartment prices across the country rose 5.7% year on year in the first quarter of 2026, so it pays to understand the full cost picture before you commit. Here is how it breaks down.
The transfer tax: 3.09% for most purchases
When you buy a resale home, a plot, or most new builds in Greece, you pay real estate transfer tax (FMA) of 3.09% - a 3% base rate plus a municipal surcharge. It is charged on the higher of the agreed price or the property's 'objective value', the official tax value assigned to the area, and it must be paid before the purchase contract is signed at the notary.
Objective values matter more than many buyers expect. In sought-after areas the official value can differ noticeably from market prices, so ask your lawyer to confirm the taxable value early - it drives both your transfer tax and your future ENFIA bills.
VAT on new builds: suspended until the end of 2026
New-build homes sold by developers are in principle subject to 24% VAT, but Greece has repeatedly suspended this to support the market. Law 5246/2025, published in the government gazette on 11 November 2025, extended the suspension to 31 December 2026. Where a developer has opted into the suspension, buyers pay the 3.09% transfer tax instead of VAT.
The suspension is optional for developers and time-limited, so if you are buying off-plan with completion after 2026, ask in writing which regime applies to your purchase and check the current position with a Greek tax adviser before signing.
ENFIA: the annual property tax
Every owner pays ENFIA, an annual property tax calculated by the Greek tax authority (AADE) based on the property's size, the zone value of its location, its age and other characteristics. Bills are issued centrally each year and can be paid in monthly instalments. For a modest home outside prime zones the bill is typically a few hundred euros a year; larger properties in expensive areas pay considerably more.
Since 2026 there is a meaningful discount for insured homes. According to AADE guidance reported by Proto Thema, owners whose home is insured against earthquake, fire and flood for the full year receive a 20% ENFIA reduction where the taxable value is up to 500,000 euros, and 10% above that. Applications run through the myAADE portal on an annual deadline, so factor insurance into your ownership budget - it partly pays for itself.
- ENFIA is based on official zone values, size and age - not the price you paid
- Payable in monthly instalments once the annual bill is issued
- 20% discount for fully insured homes with taxable value up to 500,000 euros; 10% above
- Insurance must cover earthquake, fire and flood to qualify for the discount
Professional fees to budget for
Beyond tax, allow for a set of professional fees, most of which attract 24% VAT on the service. Exact rates vary with the property value and region, and some are negotiable, so get written quotes rather than relying on rules of thumb.
A lawyer is not legally mandatory in every case, but for foreign buyers it is strongly advisable: they check title at the land registry, verify planning legality and handle your tax number (AFM) and payments.
- Notary - drafts and certifies the purchase contract; fee scales with the declared value
- Lawyer - title checks, contract review and representation
- Land registry / cadastre - registration fees to record your ownership
- Estate agent - commission is negotiable and should be agreed in writing
- Civil engineer - certificates confirming the building matches its permits
Ongoing and exit costs
Day to day, you will pay a small municipal charge (TAP) collected through the electricity bill, plus utilities and, in a complex, shared building charges. If you let the property, rental income is taxed in Greece at progressive rates, and short-term letting has its own registration rules.
On sale, Greece has a capital gains tax for private sellers on the statute books, but it has been suspended repeatedly in recent years. Because these suspensions are renewed (or not) year to year, confirm the current position with AADE or a Greek tax adviser when you plan a sale. If you are researching areas and prices, Habio's Greece listings and buyer guides are a practical place to compare what your budget buys.
Frequently asked questions
How much is property transfer tax in Greece?
3.09% of the higher of the purchase price or the official objective value. It applies to resales, plots and most new builds while the VAT suspension is in force, and is paid before completion.
Do I pay 24% VAT on a new-build home in Greece?
Usually not at present. Law 5246/2025 extended the suspension of VAT on new builds to 31 December 2026 where the developer opts in, so buyers pay 3.09% transfer tax instead. Confirm which regime applies to your specific purchase.
What is ENFIA and how much will I pay?
ENFIA is Greece's annual property tax, calculated by AADE from the property's size, location zone value and age. Modest homes outside prime areas typically pay a few hundred euros a year, and fully insured homes can qualify for up to a 20% discount.
What fees apply on top of the purchase price in Greece?
Budget for notary, lawyer, land registry and estate agent fees, plus 24% VAT on those services. Rates vary by value and region and some are negotiable, so obtain written quotes early.
Sources
This article is general information, not legal, tax or financial advice. Markets and rules change — verify the current position with official sources before acting. Published 2 August 2026.