Ownership Related Costs in Greece
Costs Related to the Ownership of Real Estate Property in Greece
Author: Ioannis Valmas, Attorney at Law, LLB, LLM, BSc, Managing Partner at Valmas & Associates
1a. Principal ENFIA Tax
ENFIA Principal Tax is calculated by multiplying the square meters of the property by the principal tax per square meter (depending on the location of the property, use of the property and other coefficients); thus, determining these tax values per sq. m. is part of a complex process undertaken by experts appointed by the Hellenic Government and it is subject to periodic reviews and changes.
Area Price (€ / sq.m.)
Main Tax (€ / sq.m)
2.2 Supplementary ENFIA Tax for Natural Persons (Private Individuals)
ENFIA does not only include the Principal ENFIA Tax, but also the Supplementary ENFIA Tax, which is imposed by the following scale (a progressive tax rate) when the value (or accumulative value if more than one properties are owned) of real property assets of individuals exceeds the value of € 200.000 (formerly € 300.000):
Value of property (€)
Tax Rate (%)
0,01 – 200,000
201,000 – 250,000
250,000,01 – 300,000
300,000,01 – 400,000
400,000,01 – 500,000
500,000,01 – 600,000
600,000,01 – 700,000
700,000,01 – 800,000
800,000,01 – 900,000
900,000,01 – 1,000,000
1,000,000,01 – 2,000,000
2.3 Supplementary ENFIA Tax for Legal Persons or Legal Entities
The supplementary ENFIA is also imposed on the property of legal entities, which is calculated at a rate of 5,5‰ although it is subject to discounts, such as 3.5‰ for the properties owned by non profit organizations.
2.4 Further Taxation on Offshore Legal Entities
Additionally, the Greek legislator introduced by virtue of Article 15 of Law 3091/2002 (as amended by Law 4446/2016), the liability of certain legal entities (such as offshore companies), that have full property rights or bare ownership or usufruct property in Greece, to pay an annual special property tax of 15%.
Several exceptions from this tax obligation are set out by virtue of Article 15 paragraphs 2-4 Law 3091/2002, such as for companies that have their headquarters in Greece or another EU country (typically SA and Ltd companies), on a. the condition that the shares of the companies are owned by individuals or that these companies declare the individuals who are owners of their shares, and b. that these individuals have been issued with a tax registration number in Greece.
1B. Income Tax from Real Estate Property in Greece
Every natural person/individual, Greek, Expat or non E.U. resident holder of a Greek Golden Visa, that owns property in Greece is entitled to lease their property and generate income, so long as they declare the profits/income to the tax authorities. No residence permit is required for this type of activity as it is not a business activity per se.
Income from property (€)
Tax rate (%)
0 – 12,000
12,001 – 35,000
This is calculated as follows:
Example: If an individual has earned €36,000.00 from leasing his/her property, they will be taxed at a 15% rate for the first €12,000.00, a 35% for the next €23.000.000 and a 45% for the remaining €1.000
Furthermore, a solidarity levy at a coefficient of 2.2% up to 10% (depending on the total income) is imposed if the annual income exceeds € 12,000.00.
Whilst every care has been taken to assure that the information contained in this document is accurate, this article is intended for informational purposes only; it is not intended to impart legal advice; readers are advised to seek independent legal advice prior to acting on any statements contained herein. The information contained in this page is in no way a substitute for the Law, which is binding only in the original Greek legislative text.