Imagine this: You’re sitting on the terrace of your new Greek villa, sipping a glass of chilled ouzo while watching the sun dip into the Aegean Sea. Owning a home in Greece—whether as a retirement retreat, a holiday getaway, or an investment property—sounds like a dream.
But before you start picturing yourself wandering through the whitewashed streets of Santorini, let’s talk numbers. Because here’s the reality: the advertised price of a property in Greece is never the final cost.
From Greek property taxes for foreigners to real estate agent fees, many hidden costs when buying property in Greece can quickly add thousands of euros to your budget. If you don’t prepare for them, that dream home could turn into an expensive headache.
So, let’s break it all down—the real cost of buying property in Greece and how to avoid financial surprises.
1. Property Transfer Tax in Greece: The First Big Expense
Let’s say you’ve found the perfect villa in Crete for €400,000. You’re ready to sign the contract when—surprise!—you find out you need to pay a Property Transfer Tax (PTT) of 3.09%.
💰 That’s an extra €12,360 you didn’t budget for.
2. VAT on New Properties in Greece: Big Savings Until 2025
If you’re buying a brand-new apartment in Athens or a modern seaside house in Mykonos, you might have expected to pay a whopping 24% VAT (Value Added Tax). But here’s some great news:
Greece has suspended this VAT until December 31, 2025.
That means if you purchase a new property for €500,000, instead of paying €120,000 in VAT, you’ll only owe the 3.09% transfer tax (€15,450).
💡 You save over €100,000 just by buying before the end of 2025.
If you’re considering a real estate investment in Greece, this tax break makes newly built homes an attractive option. But hurry—this Greek real estate market incentive won’t last forever.
3. Notary Fees: Why You Can’t Skip Them
In some countries, using a notary public is optional. Not in Greece. Here, you must hire a notary to verify the transaction, and their fees range from 1.5% to 2% of the property price.
🔹 Example: If you’re buying a €600,000 home in Corfu, expect to pay €9,000 to €12,000 in notary fees in Greece.
4. Greek Real Estate Lawyers: Your Best Investment
Can you buy a home in Greece without a lawyer? Technically, yes. Should you? Absolutely not.
Your lawyer will:
✅ Check if the property has debts or legal issues
✅ Ensure that ownership records and permits are correct
✅ Protect you from scams and unfair contracts
💰 Expect to pay 1% to 2% of the property price for legal assistance. But trust me—this is one cost you don’t want to skip.
5. Land Registry Fees in Greece: The Final Step
Once you’ve signed all the paperwork, you still need to register the property in the Greek Land Registry (Ktimatologio). The fee? 0.5% of the purchase price.
💡 Tip: Some areas of the Greek property market have outdated records. If your land ownership registration takes longer than expected, be patient—it’s normal.
6. Real Estate Agent Fees: Who Pays What?
Here’s something that surprises many foreign buyers: in Greece, both the seller and the buyer pay the agent’s commission.
The typical Greek real estate agent fee is 2% to 5% of the property price.
🔹 Example: If you’re buying an apartment in Athens for €250,000, expect to pay €5,000 to €12,500 in real estate commission fees in Greece.
💡 Tip: Always clarify who is responsible for paying the agent before signing any contracts.
7. Annual Property Taxes in Greece: What You’ll Pay Every Year
Even after buying your dream home in Greece, the costs don’t stop. You’ll need to pay the ENFIA tax (Annual Property Tax in Greece).
This tax ranges from €2 to €16 per square meter, depending on the size, location, and age of your home.
🔹 Example: If your home is 120m², expect to pay between €240 and €1,920 per year in Greek annual property taxes.
8. The Cost of Living in Greece: Utilities & Maintenance
When planning your budget, don’t forget monthly expenses like:
✔ Municipal taxes (0.025–0.035% of property value)
✔ Electricity & water bills (€100–€250/month)
✔ Internet & garbage collection fees
These may seem small, but over time, they add up—especially if you’re not living in Greece full-time.
9. Airbnb & Rental Taxes in Greece: What Landlords Should Know
Planning to rent out your Greek property on Airbnb or Booking.com? Be prepared to pay rental income tax:
15% for income up to €12,000 per year
35% for income between €12,001 and €35,000
45% for income over €35,000
💡 Tip: If you plan to operate a short-term rental business in Greece, register your property with the tax office to avoid fines.
Final Thoughts: Is Buying Property in Greece in 2025 a Smart Move?
✅ VAT exemption makes new properties more affordable
✅ The 3.09% transfer tax is lower than in many EU countries
✅ Greek real estate remains a top investment opportunity
But if you don’t prepare for hidden fees, your Greek property dream could become an unexpected financial burden.
Before buying, ensure your budget includes all extra costs—because in Greece, what you see is not always what you pay.
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