Sales Tax

Real Estate Transfer Tax in Greece: Summary

Who is Liable for Real Estate Transfer Tax?

The purchaser of the property.

Where is the Real Estate Transfer Tax Return Filed?

At the competent tax office of the property.

Tax Calculation:

The tax is calculated at 3% of the taxable value, which is defined as the greater of the objective value and the purchase price. There is a tax exemption for the acquisition of a first residence, with limits and conditions as analyzed below.

First Residence Tax Exemption:

Conditions:

The purchaser/spouse/minor children do not own another property that meets their housing needs.
The property is buildable and within the plan.
The purchaser is a Greek, Greek expatriate, Cypriot or EU citizen with permanent residence in Greece.
The purchaser has not received an exemption for a first residence in the past.
The purchase is made in full ownership (100%).
The property must remain in the ownership of the purchaser for 5 years.

Exceptions:

Purchase by ½ each by spouses.
Acquisition of the remaining ½ of a property already owned by the purchaser.
Consolidation of bare ownership with usufruct.

Exemption Extent:

Residence:

Single: up to €200,000 + €25,000/child.
Married: up to €250,000 + €25,000/child.
Includes 1 parking space up to 20 sq.m. and 1 storage space up to 20 sq.m.

Plot:

Single: up to €50,000 + €10,000/child.
Married: up to €100,000 + €10,000/child.

Exceeding the Tax-Free Limit:

For the excess value, real estate transfer tax is due.

Second Exemption:

It is granted if:

The properties owned by the purchaser/spouse/minor children do not meet their housing needs.
The lump sum tax corresponding to the previous exemption is paid.

Note:

This summary is for informational purposes only and does not substitute for the need for specialized legal advice.

Sources:

https://www.gov.gr/en/sdg/residence/purchasing-and-selling-of-immovable-property/real-estate-transfer-tax

https://www.aade.gr/en/greeks-abroad-non-residents/property-taxation/real-estate-transfer-tax