02.12.2024
How a property's value is calculated in Greece is being modernised. For anyone buying a home here, that means more transparency over what your property is worth, and more consistent rules for the taxes based on that value. Here is what is changing, and what it means for you as a buyer.
When you buy a property in Greece, the transfer tax is calculated on the property's value, and that value is the higher of the purchase price or the property's "objective value." So how the objective value is set has a direct effect on what you pay. Clearer, more consistent valuation rules mean you can be confident the tax is appropriate for the property. For investors, better valuation data also makes for more informed decisions.
The objective value is the tax office's own estimate of what a property is worth, based on set criteria rather than the actual sale price. When you buy, the transfer tax is charged on the purchase price or the objective value, whichever is higher. The current transfer tax rate on an existing home is 3.09% of that value.
Greece is reforming how objective values are set, with the broad aim of bringing them closer to real market values and making the whole system more transparent. Two developments stand out. The first is a move towards a digital property value registry, through the valuemaps.gov.gr platform, intended to make valuation data available online. The second is that the official zone values, which sit at the heart of every objective value, were revised in 2025 and apply to 2026 taxes, with adjustments up or down depending on the area to better reflect current conditions. For buyers, the direction of travel is positive: a more digital, more transparent system that should make property values easier to understand and harder to dispute.
These are the kinds of factors that feed into a valuation. It is not an exhaustive list, and the exact weighting varies.
Usually the single biggest factor. Properties in tourist areas or near the coast tend to be worth more, while remote locations carry lower values.
The floor area, layout, the floor an apartment sits on, recent maintenance, and whether it is furnished all play a part.
Newer properties generally carry higher values, and older ones lower, though a well-renovated older home can be worth considerably more than a comparable un-renovated one.
Whether you can extend the floor space, add a storey or a pool, can lift a property's value, as buyers pay for the ability to adapt a home. In Greece, the scope to extend can be limited by planning and forest regulations, so this is worth checking.
The objective value is a formula-based figure, so it rarely matches what a property actually sells for. Several things drive the difference.
In a seller's market, where demand outstrips supply, prices rise, and homes sell quickly. In a buyer's market, the reverse. Across much of Greece's popular areas, demand has been running ahead of supply for several years, which has pushed prices up.
Greek house prices have continued to climb, though more gently than during the post-2021 surge. According to the Bank of Greece, residential prices rose by around 7 to 8% in 2025, down from the double-digit growth of 2022 and 2023. The pace has been more moderate in Athens, at roughly 6%, and stronger in Thessaloniki and several smaller cities, at around 8 to 10%.
Interest rates and lending conditions affect what buyers can afford and how willing banks are to lend, which in turn feeds into demand and prices.
One of the most reliable ways to gauge a home's market value is to look at recent sale prices of similar nearby properties, often called "comparables" or "comps." An agent or valuer will use these to assess a property.
The objective value sets the floor for the tax you pay, while the market sets the price you actually pay, and the two are rarely the same. With the valuation system becoming more digital and better aligned with the market, both should get easier to understand. If you would like help making sense of a specific property's value and the costs around it, we are glad to assist. We've been guiding international buyers to their ideal home in Greece since 1991. You are welcome to speak with us for a no-obligation consultation.
Disclaimer: This article is for general information only. Property values, taxes, and regulations change, and individual situations vary. We recommend consulting qualified legal and tax professionals before making any decisions.
02.07.2026
International investors have been paying closer attention to Greece for a few years now. Keeping up this pace, new survey data shows just how far that attention has grown. Greece has moved into first place among institutional investors targeting hospitality assets in Europe. More specifically, it has overtaken Italy, Spain, and France, the countries that traditionally led this ranking.
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Greece remains one of Europe's most rewarding places to own a property and let it out, and the latest short-term rental rules do little to change that, as the new limits are targeted. More specifically, they focus on the busiest central districts of Athens and Thessaloniki, while the islands, the coast, and the wider market stay open.
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Selling a Greek property while you live in another country can feel like a tangle of paperwork in a language you do not read. The part that surprises most owners is how little of it actually requires your physical presence. You can sell a house in Greece from abroad without travelling at all. The sale runs through a power of attorney, with a legal representative acting for you on the ground. With your documents in order and a team handling the legal side, the whole process can be completed from your home country.
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Selling property in Greece means meeting a clear set of legal requirements: the right documents, a notarial deed, settled taxes, and clean title. For owners living abroad, the difficulty is rarely the rules themselves. It is coordinating several Greek authorities from another country. Here is what the process actually involves, and where having a legal team on the ground changes things.
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I bought a home in Greece (or I'm fantasizing about buying one), and I want to rent it out. What does it take to rent out a home in Greece? What taxes will I pay, and what income can I expect? Can I hire someone to assist me in renting out my home in Greece? In this comprehensive guide, we share everything you need to know about renting out a home in Greece, including legal requirements, market insights, and practical tips.
21.05.2026
Buying a home in Greece often starts with one very simple question: what does my budget actually get me?
It is a fair question, because property prices in Greece can vary a lot depending on location, views, accessibility, construction quality, and rental potential. A budget that may secure a sea-view apartment in one region could open the door to a private villa with land in another. In more established destinations, the same amount may buy less space, but stronger location value. In this guide, we look at both existing homes and off-plan projects currently under construction. This reflects how many international buyers search in Greece today: comparing ready-to-use properties with new-build opportunities that may still be in development. In some cases, buying off-plan can offer more flexibility, newer specifications and staged payments, while existing homes may appeal to buyers who want to use or rent the property sooner.
For international buyers, understanding these differences is an important first step. Whether you are looking for a holiday home, a future relocation base, or a long-term investment, knowing what €250K, €400K and €600K can realistically offer helps you search with more clarity.
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A full-service Greek real estate company handles the property search, the legal work, and the support after purchase in one place, so international buyers don't have to hire and coordinate separate agents, lawyers, and administrators. For anyone buying from abroad, that removes the hardest part of the process: navigating Greek property law in a language and a system they don't know. This guide explains what a full-service company does, why it matters for international buyers, and how it works in practice at Elxis.
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Greece has become one of the most appealing places in the world to spend retirement. The climate is mild, the cost of living is reasonable, the healthcare is good, and the tax treatment of foreign pensions is among the most generous in Europe. This guide walks through the practical side of retiring here: how to get residency, how the tax system works for pensioners, how to arrange healthcare, and where people choose to live.
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