Why Co-Ownership Is Becoming Popular
Buying jointly can make good financial sense for couples and families, especially on tax. With remote work, the Golden Visa, and a growing number of international buyers, co-ownership has become a practical way to invest. It lets people share both the cost and the enjoyment of a home in Greece.
Taxes
In Greece, tax liability is individual. Even if a couple is married or files a joint return, each person is taxed separately on their share. First, buyers pay a one-time transfer tax of 3.09% on the property's declared value. For co-owned property, this is split according to ownership shares, and each co-owner pays their part. Second, every owner pays the annual property tax, ENFIA. Where two or more people own a home, it is split by ownership percentage. So if you own 60% and your spouse owns 40%, you each pay that share. Each co-owner receives their own ENFIA bill through their own Greek tax number (AFM) and pays it individually through the online tax platform, myAADE. Third, when two people co-own and rent out their home, they share the rental income, and each is taxed individually on their share. This means both can benefit from the lower tax bands. From 2026, the rental income tax bands change. The previous bands were:
Up to €12,000: 15%
€12,001 to €35,000: 35%
Over €35,000: 45%
From 2026, they are:
Up to €12,000: 15%
€12,001 to €24,000: 25%
€24,001 to €36,000: 35%
Over €36,000: 45%
The main change is the new 25% band for income between €12,001 and €24,000, which previously fell into the 35% band. Because co-ownership spreads the income across the owners, it often reduces the rate that applies. For example, a property owned by one person with €24,000 of annual rental income in 2026 would pay €4,800 in tax. The same property owned by two people would pay €3,600 in total, since each owner is taxed on €12,000. For higher-income rental properties, it can be worth buying through a company, since you can then deduct expenses, costs, and the depreciation of the building. Company tax in Greece is 22%. There are also setup and running costs to owning a business in Greece, so it is worth getting legal and tax advice first. To explore buying as a company, contact us, and our legal team can help.
Rights and Obligations of Each Co-Owner
When two or more people co-own a property, they share both rights and obligations.
Rights:
Use. Each co-owner can use the whole property, as long as this does not stop the others from using it. If one co-owner uses it exclusively, the others may claim compensation.
Management. Decisions are taken by majority vote, weighted by each owner's share.
Income. Each co-owner is entitled to income, such as rent, in proportion to their share.
Selling a share. Each co-owner can sell, donate, or transfer their share without the others' consent, unless they have agreed otherwise. It is good practice to tell the others first to avoid disputes. In practice, it is not easy to sell an undivided share, as buyers for them are hard to find.
Obligations:
Maintenance and expenses. Costs for maintenance, repairs, and improvements are shared by ownership percentage. If the roof needs repair, each person contributes their share.
Taxes and fees. Each co-owner pays their share of property taxes, such as ENFIA, municipal taxes, and any income tax on rent, separately through their own AFM.
Management decisions. Once a decision is taken by majority vote, all co-owners must comply, even those who disagreed, provided it follows the law and does not unfairly harm a minority owner.
A common question is how the ownership percentage is set and recorded. It is determined by agreement between the co-owners, usually in the purchase contract, and can be changed by later agreement. Once set, it is recorded in the contract, which forms the title deed. The contract, whatever its type (purchase, parental gift, inter vivos gift, and so on), is registered with the Greek National Cadastre, where the shares are recorded as ideal shares. Registration determines each co-owner's share of rights and obligations, their share of income and expenses, the weight of their vote in management decisions, and their share if the property is later divided.
What Does the Process Involve?
The process is largely the same as a standard purchase, with the same supporting documents. The key difference is that you must clearly state each buyer's and seller's co-ownership percentage in the contract, and provide the documents for all parties. The notary's role is unchanged. They certify the agreement between the parties and apply the relevant law. The notary has no influence over the content of the contract or the co-ownership percentages.
Co-Ownership Problems and Solutions
If one co-owner wants to sell and the others disagree, they can go to the Greek courts, which will decide whether the property can be divided, or whether another solution is needed, such as one owner buying out another's share. Other common issues:
Divorce. In a consensual divorce, the spouses can settle joint-property matters by a written agreement before a notary. If they divorce through the courts, the joint property is settled by the court's decision.
Death of a co-owner. Their share passes to their heirs under inheritance law. Inheritance tax may apply, depending on the relationship, but spouses and children usually benefit from generous exemptions.
Disputes between co-owners. If owners cannot agree on management, renting, or sale, Greek law allows them to go to court.
Practical Tips for a Smooth Co-Ownership Experience
Put everything in writing. Even with family or a long-term partner, a written agreement on expenses, renovations, and a possible sale is wise.
Keep communication open. Being clear about financial responsibilities prevents misunderstandings.
Think long-term. Agree in advance what happens if one owner wants to sell. It 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 sensible way to buy your home, whether a holiday escape on the islands or a long-term investment. With the right legal setup and a clear understanding between owners, you can enjoy the rewards without the headaches. Be cautious, though, about newer fractional-ownership schemes that offer very small shares, often among unrelated co-owners. The low entry cost can hide complex management, limited control, and legal uncertainty. As always, take professional advice before entering any co-ownership arrangement, so your investment is safe, transparent, and aligned with your long-term plans.
Disclaimer: This content is for informational purposes only and does not constitute legal advice. For any co-ownership issues, we strongly recommend consulting a lawyer or notary.
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