Buying a Home Together Under the Greek Sun
Buying a property together, whether with your spouse, partner, family member, or even a close friend, is becoming increasingly popular in Greece. With rising prices and a growing interest in holiday homes, co-ownership is often the smartest way to share costs while enjoying a piece of Mediterranean paradise.
But before you make the decision, it’s essential to understand how property co-ownership works under Greek law. Who owns what, how decisions are made, and how taxes such as property tax (ENFIA) or rental income are divided.
In this article, we explain the legal and tax framework of property co-ownership in Greece, so you can buy with confidence and avoid costly misunderstandings later.
The Two Main Types of Co-Ownership in Greece
Greek law recognises two basic forms of co-ownership. Understanding these will help you decide which structure fits your needs best.
1.Simple co-ownership: In this form, all owners share the entire property, each holding a specific percentage; for example, 50%-50% or 80%-20%. No one owns a specific room or floor. Instead, all co-owners share rights to the entire property, known in Greek law as “ideal shares” (ιδανικά μέρη). This is the most common option for couples or families who buy one house or apartment together.
2.Divided ownership: This includes horizontal and vertical ownership. Horizontal ownership refers to the ownership of floors or apartments in an apartment building, while vertical ownership refers to the ownership of independent buildings constructed on a larger plot of land. Both forms combine individual ownership of part of the property with co-ownership of the common areas or the plot.
The division of a larger property into horizontal or vertical properties is established in a notarial deed of division. This deed is a legal document which contains all details regarding the division, including the rights and obligations of the owners, and any other terms that have been agreed upon. It describes in detail each divided property, its boundaries, the common and shared areas of the property (e.g., stairs, corridors, access road) and any areas of the property that belong in exclusive use of individual owners. This deed of division remains valid for each subsequent owner of the property.
In this article, we’re mainly referring to simple co-ownership, so partners, family or friends buying and owning a property together.
Why Co-Ownership Is Becoming Popular
Buying property jointly in Greece can make great financial sense for couples or families, especially when it comes to taxes. With remote work, golden visa programs, and a growing number of international buyers discovering Greece, co-ownership has become an attractive and practical way to invest in real estate. It allows couples and families to share both the cost and the joy of owning a home under the Greek sun.
Taxes
It’s important to know that in Greece, tax liability is individual. Even if a couple is married or files a joint tax return, each person is taxed separately for their share of ownership.
1.When buying a property in Greece, buyers pay a one-time transfer tax of 3,09% on the property’s declared value. For co-owned properties, this tax is split according to ownership shares, and each co-owner pays their share.
2.In Greece, every property owner pays an annual real estate tax known as ENFIA. When two or more people own a home, the tax is automatically split according to each person’s ownership percentage; so if you own 60% and your spouse owns 40%, you each pay that share of the total. Each co-owner receives their own ENFIA bill through their personal Greek tax number (AFM) and pays it individually via the online tax platform myAADE.
3.When two people co-own and rent their home, they share rental income. Respectively, each one is taxed individually according to their share. That means that you can both benefit from the lower tax brackets.
Starting 2026, these tax brackets will be modified in a fairer way, as we mentioned in a previous article. Under the new rules that will take effect in 2026, a new rate of 25% will be implemented for rental income between €12,001 and €24,000, creating a fairer and smoother tax scale. Therefore, income tax on rental income per person will be as follows:
| Annual Income from Rentals | 2025 | 2026 |
| €0-€12,000 | 15% | 15% |
| €12,001-€24,000 | 35% | 25% |
| €24,001-35,000 | 35% | 35% |
| €35,001+ | 45% | 45% |
Hence, co-ownership often reduces the tax rate because it “distributes” the income amongst the owners. For instance, a property owned by one person with an annual rental income of €24,000 in 2026 will pay €4,800 in taxes, while the same property would pay €3,600 in taxes if two persons owned it.
In cases of rental properties in higher price segments, it can be wise to purchase the property as a company because you can deduct expenses, costs, and the depreciation of the building. The company tax in Greece is 22%. There are also setup and operating costs of owning a business in Greece, which are outlined here. If you’re considering this route, it’s worth getting legal and fiscal advice first. To see how you can purchase property as a company, contact us. Our legal team can help you explore this option.
Rights and Obligations of Each Co-Owner
Under Greek law, when two or more people co-own a property, they share both rights (how they can use and benefit from the property) and obligations (how they contribute to its costs and management). Here’s how this works in practice:
a) Use: Each co-owner has the right to use the entire property, provided that this does not prevent the other co-owners from using it. If one co-owner makes exclusive use of the property, the others may claim compensation.
b) Management: Management decisions are taken by majority vote, based on each co-owner’s share of ownership.
c) Right to income: Each co-owner has the right to collect income (for example, rent) in proportion to their ownership percentage. If the property is rented out, the rental income is divided according to those shares.
d) Right to transfer or sell their share: Each co-owner can sell, donate, or transfer their share of ownership without needing the consent of the others, unless an agreement between them says otherwise. However, it’s good practice to inform the other co-owners first to avoid disputes. Of course, it is not evident for someone to put their share up for sale, as it is pretty challenging to find a buyer for an undivided share of real estate.
The obligations include:
a) Maintenance and Expenses: Expenses for maintenance, repairs, improvements, etc., are apportioned according to the co-owners’ shares of ownership. For example, if the roof needs repair, each person contributes based on their percentage.
b) Participation in taxes and fees: Each co-owner pays their share of property-related taxes, such as ENFIA, local municipal taxes, and any income tax from rent, separately through their own Greek tax number (AFM).
c) Responsibility for Management Decisions: Once a decision has been taken by majority vote, all co-owners must comply, even if they initially disagreed, provided the decision follows the law and doesn’t unfairly harm a minority owner.
A frequently asked question is: “How is the ownership percentage determined and recorded legally?”.
Co-ownership percentages are determined in various ways, including by agreement between the co-owners in the purchase contract and by subsequent agreement between the co-owners. Once the co-ownership percentage has been determined, it is recorded in the body of the contract, which constitutes the title deed to the property. The contract, whatever its type (purchase, parental gift, inter vivos gift, etc.), is registered with the “Greek National Cadastre” and the co-ownership percentages are referred to as “ideal shares” in the property. The registration has the following legal effects:
– Determines each co-owner’s share in rights and obligations.
– Determines the percentage of participation in income and expenses.
– Determines the weight of the vote in management decisions (in the case of an apartment building).
– Determines the share in the event of distribution.
What does the process involve?
The process is largely identical to a standard property purchase, with the same supporting documents required. However, it is important to clearly specify the co-ownership percentages of each seller/buyer in the contract and to submit the necessary documents from all sellers/buyers.
Even in the case of co-ownership agreements, the role of the notary remains the same as with any contract: they certify the agreement between buyers and sellers and subject the property to the relevant provisions of the law. The notary has no influence whatsoever on the content of the contract or the co-ownership percentages.
Co-ownership problems and solutions
If one co-owner wishes to sell the property and the other co-owners disagree, they can appeal to the Greek courts. The courts will decide whether the property can be divided and distributed or whether another solution must be sought, such as the purchase of a share in the property. Other common issues that may arise include:
a) Divorce: In the case of a consensual divorce, the spouses may agree on issues arising from their joint property by means of a written agreement before a notary public. If they choose to dissolve their marriage through the courts, their joint property will be settled by the relevant court decision.
b) Death of one of the co-owners: In this case, their share is transferred to their heirs, in accordance with the provisions of inheritance law. In such cases, inheritance tax may apply depending on the relationship between the deceased and the heir, but spouses and children usually benefit from generous exemptions.
c) Disputes between co-owners: If co-owners cannot reach an agreement on management, rental, or sale, Greek law allows them to appeal to the courts.
Practical Tips for a Smooth Co-Ownership Experience
– Put everything in writing. Even if you’re buying with family or a long-term partner, it’s wise to have a written agreement outlining how you’ll handle expenses, renovations, or a potential sale.
– Keep communication open. Transparency about financial responsibilities helps prevent misunderstandings.
– Think long-term. Consider what happens if one co-owner wants to sell; having a pre-agreed process makes life much easier later.
The Bottom Line on Property Co-Ownership in Greece
Co-owning property in Greece can be an excellent and financially savvy way to buy your dream home, whether it’s a holiday escape in the islands or a long-term investment. With the right legal setup and a clear understanding between owners, you can enjoy all the rewards without unnecessary headaches.
Disclaimer: This content is for informational purposes only and does not constitute legal advice. For any co-ownership issues, it is highly recommended to consult a lawyer or notary.
