When purchasing property in Greece, the following taxes and fees come into play:
Transfer Tax: This is a tax imposed when transferring ownership rights to the buyer. The tax rate is 3% of the property’s value.
Registration Fee: This fee is for registering property rights in the cadastre. It typically amounts to around 0.5-1% of the property’s value. For example, for a property worth 250,000 euros, the rate would be just 0.5% (1250 euros).
Value Added Tax (VAT): By the decision of the Greek government, the collection of 24% VAT on new properties with construction permits issued after January 1, 2006, has been suspended until 2024. VAT on new constructions in Greece will not be applied until the end of 2024!
Notary Expenses: When buying property, a notarial deed must be drawn up. The amount of notary expenses depends on the property’s value and usually constitutes approximately 1-2% of the price.
Legal Services: Legal support service fees can vary depending on the services and transaction amount.