Buying property in Greece—whether it’s a sun-drenched villa, a seaside apartment, or an investment property—is a dream for many international buyers. However, the purchase price listed online is not the final amount you will pay.
To avoid unpleasant surprises, it’s essential to understand the hidden costs of buying property in Greece, including taxes, professional fees, and ongoing ownership expenses. These costs are standard, legally regulated, and predictable—but only if you plan for them in advance. Below is a complete breakdown of all the costs involved in buying real estate in Greece.
1. Purchase Taxes When Buying Property in Greece
Property taxes are the largest variable cost, and they depend primarily on whether the property is new or a resale.
Transfer Tax: For most resale properties, the tax is a flat 3.09% of the property value paid by the buyer before signing the final contract.
VAT (FPA): Historically, new-build properties were subject to 24% VAT. However, the Greek government has implemented a VAT suspension for many new constructions (currently valid under existing legislation through 2025/2026). In most cases, buyers of new-build properties now pay the 3.09% transfer tax instead of VAT. Always verify the specific tax status of a new development.
2. Professional Fees for Buying Real Estate in Greece
Buying property in Greece is a structured legal process and requires the involvement of several professionals. These costs are not optional—they protect the buyer and ensure a clean transaction.
| Professional | Estimated Cost | Role |
|---|---|---|
| Lawyer | 1.5% – 2% (+VAT) | Conducts legal due diligence, title searches, and confirms that the property is free of liens or legal claims. |
| Notary | 1.5% – 2% (+VAT) | Drafts the final deed and oversees the official signing. |
| Real Estate Agent | 2% (+VAT) | Covers professional representation, property coordination, negotiation support, and guidance throughout the buying process. |
| Civil Engineer | €500 – €1,000 | Mandatory for checking the legality of the structure. |
3. Registration and Documentation Costs
Once the purchase deed is signed, the property must be officially registered.
Land Registry (Ktimatologio): Registration fees typically range from 0.5% to 0.8% of the contract value. It is mandatory to complete the transfer of ownership.
Additional Administrative Costs: Budget roughly €500 for official translations, apostille stamps, and the issuance of a Greek Tax Number (AFM), required for all foreign buyers.
4. Ongoing Property Ownership Costs in Greece
The costs of buying a house in Greece don’t end at closing. Property owners should also account for the following annual or recurring expenses:
ENFIA: Greece’s unified property ownership tax. It is calculated based on the size, location, and "objective value" of the property.
TAP (Municipal Tax): A small tax (0.025% – 0.035%) usually charged through your electricity bill.
Insurance: While not always mandatory unless you have a mortgage, fire and earthquake insurance is highly recommended, especially for coastal or island properties.
How Much Extra Should You Budget? The 10% Rule
As a general rule of thumb, buyers should budget approximately 10% of the purchase price to cover all taxes, professional fees, and administrative costs when buying property in Greece.
This approach provides a realistic and safe estimate, helping international buyers plan confidently and avoid unexpected expenses.
Final Thoughts
Buying property in Greece is a transparent and well-regulated process when you understand the full cost structure. With proper planning and professional guidance, you can avoid unexpected expenses and move forward with confidence.
If you are considering buying real estate in Greece and would like a clear, personalized breakdown of all purchase costs, our team is here to help. We work closely with trusted legal and technical professionals to ensure a smooth, secure, and stress-free buying experience. Contact us today to discuss your property goals and receive expert guidance tailored to your needs.
