The Greek authorities are preparing a major tax relief measure for the real estate market. Starting in 2026, the purchase of newly built apartments will be exempt from the 24% VAT. This initiative has already been approved by the Prime Minister following proposals by Finance Minister Kyriakos Pierrakakis and Deputy Finance Minister Thanos Petralias.
According to the Ministry of Finance, the total relief package will not exceed €1.5 billion, in order to preserve fiscal balance while supporting economic growth.
Thus, when purchasing new apartments, buyers will only pay a 3% property transfer tax, which will significantly reduce the final cost of housing.
The abolition of VAT is expected to provide a major boost to the construction sector and increase interest in Greek real estate, both from local buyers and foreign investors. Preliminary reports indicate that this measure may also be extended into 2027.
It should be noted that VAT on new buildings had already been temporarily suspended as part of anti-crisis measures, but this latest decision could become a strategic element of Greece’s long-term housing and tax policy.
