Taxes on Real Estate in Greece (Updated for 2026)

Capital Gains Tax

Greece has a capital gains tax on property, but for individuals it is currently suspended. The suspension runs until 31 December 2026. In practice, an individual who sells within this period is not taxed in Greece on the profit, even where the sale price is higher than the purchase price. There are exceptions. If the tax authorities treat a sale as business activity, the profit can be taxed as business income instead, and in some cases VAT may apply. This can happen, for example, where someone makes three or more property sales within two years, or builds or buys a property specifically to resell rather than to use. Companies do not benefit from the suspension. They are taxed on property profits as part of corporate income, currently at 22%.

Doing Your Taxes in Greece

It helps to work with an accountant, who will understand the local system and save you time. You can expect to pay around 150 to 200 euros a year for filing your taxes.

Tax Exemptions for Greek Homeowners in 2026

A number of measures make owning and renting property in Greece more attractive.

ENFIA Exemption For Historic Buildings

Listed historic buildings may be exempt from ENFIA, subject to a value limit and other conditions. The qualifying threshold can change, so confirm the current limit with a tax professional. Temporary exemptions may also apply to properties in certain regions.

A 20% ENFIA Reduction For Insured Homes

If your home has a taxable value of up to €500,000 and is insured against fire, earthquake, and flood, you may qualify for a 20% reduction on ENFIA.

Further 2026 Measures

From 2026, Greece is introducing several more changes: a 50% ENFIA reduction for primary residences in villages of up to 1,500 residents, rising to a full exemption by 2027; the new 25% rental income band for €12,001 to €24,000; a reduced VAT rate for smaller border islands; and the continued VAT suspension for new construction. Together, these make owning and renting property in Greece simpler and more affordable.

Income Tax Exemption for Long-Term Rentals

This measure rewards switching to long-term renting. It offers an income tax exemption on rental income from properties that were previously vacant, or previously used for short-term rentals, and that are now let on a long-term basis. The main conditions are that the lease runs for at least three years, that it is signed between 8 September 2024 and 31 December 2026, and that the property has a history of being vacant or used only for short-term rental before the lease begins. The exemption stops if the property becomes vacant again or returns to short-term use within the period, and it can continue if the property is re-let on another long-term lease. Other conditions apply, so confirm your eligibility with a tax professional.

What Are My Property Taxes if I'm Dutch?

As a resident of the Netherlands, you are taxed on your worldwide income, including income from property in Greece. The Dutch personal income tax system has three "boxes". Income from investments, including a second home in Greece, falls under box 3. Box 3 has been under scrutiny for some years, over whether the system conflicts with the right to ownership. Adjustments have been made and further changes are ongoing. The impact on the Dutch tax due on your Greek property, though, is limited. Under the double tax treaty between the Netherlands and Greece, the right to tax the Greek property lies with Greece, as the source of the income. So while you report the Greek income in your Dutch return, you can claim double tax relief.

The Current System

At present, box 3 sorts assets into three categories: savings; other assets, such as shares, bonds, securities, second homes, and cryptocurrency; and loans. A fixed, assumed return is applied based on the category.

Developments

Because box 3 applies assumed returns rather than actual income, some taxpayers pay tax on returns they did not make. This has led to court cases, often decided in taxpayers' favour. Following Supreme Court rulings, a rebuttal scheme now allows taxpayers to be taxed on their actual return where it is lower than the assumed one. The government plans to introduce a new system based on actual investment income. It was originally expected in 2027 but has been postponed to 1 January 2028. The bill passed the House of Representatives in early 2026 and is now before the Senate. For real estate, the new system would tax actual rental income, allow expenses to be deducted, and tax the capital gain when the property is sold.

Other Notes About Box 3

Box 3 income is only taxable where the net value of your assets minus debts exceeds the tax-free allowance, set at €59,357 per person for 2026, or €118,714 for fiscal partners.

The Netherlands-Greece Double Tax Treaty

The treaty governs how residents of one country are taxed on income from the other. Income from real estate is allocated to the country where the property is located, in line with international standards. So while your worldwide income is accounted for in your Dutch return, relief is given for the Greek real estate income. In principle, a Dutch resident with a second home in Greece should not pay Dutch personal income tax on it.

Greek Tax Scheme for High Net Worth Individuals

Greece has a special programme to encourage high net worth individuals (HNWI) to move their tax residence to Greece. Like the regime for pensioners, it is attractive compared with tax systems in other countries, where high earners can be taxed up to 50%. Rather than paying a percentage of your foreign income, you can pay a flat 100,000 euros a year on that income by moving your tax residence to Greece. You can add a family member for 20,000 euros a year. The flat rate applies for 15 years. A similar regime exists in Italy, where those joining the "Res Non-Dom Program" pay a flat 300,000 euros a year on foreign-sourced income for new residents from 2026, up from 100,000 in 2024, with an additional 25,000 euros per family member.

What Are the Requirements?

The applicant must not have been a Greek tax resident for 7 of the 8 years before transferring their tax residence to Greece. The applicant, a close relative, or a legal entity in which the applicant holds the majority of shares, must invest at least €500,000 in Greece, within three years of the application. The investment can take various forms, such as real estate, movable property, or shares in a Greek legal entity. This condition does not apply if the applicant already holds a residence permit by investment, such as the Golden Visa.

How Does the HNWI Scheme Work?

If you elect for this regime, the application is filed by 31 March, with supporting documents submitted by May. You then pay a flat 100,000 euros a year, whatever your foreign income for the year. To cover a relative, an additional 20,000 euros a year is paid. Foreign-source income does not have to be reported to the tax authorities. Any tax paid abroad on income covered by the regime is not offset against the Greek liability. The individual is also exempt from Greek inheritance and gift tax on foreign assets. Greek-source income, however, is declared annually and taxed as normal Greek personal income. For advice on your own situation, we recommend consulting a tax professional with knowledge of these regimes.

Disclaimer: The information provided in this article is for general informational purposes only and does NOT constitute legal or financial advice. The suspension of the 15% capital gains tax on real estate sales for individuals in Greece is currently valid until 31 December 2026. Greek tax authorities may still classify a sale as a business activity based on specific criteria, such as intent for profit or quick resale, which would subject the profit to standard income tax rates and potentially VAT. For example, if a property was built or bought specifically for sale rather than for personal use, and never occupied by the owner, the tax office may treat the profit as business income. We strongly recommend consulting a qualified Greek tax professional or lawyer about your specific situation before making any real estate decisions.