What are the Costs of Owning a Home in Greece? (Updated for 2025)

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The more information a buyer has about acquiring a house in Greece, the better the decision. At Elxis we have outlined below the costs involved in getting that dream home in a simple, easy-to-understand manner.

Couple in Greece

What Are the Costs of Buying a Home in Greece?

When purchasing a property in Greece, it’s essential to account for additional costs beyond the listing price. As a rough guideline, investors are faced with fixed buying costs amounting to 5.6 percent of the purchase price. This figure can change, depending on whether a real estate agent and/or a lawyer is involved.

1. Transfer Tax

This tax is paid for by the buyer and amounts to 3.09 percent of the commercial value of the home or its taxable value, whichever is higher. This amount needs to be paid to the Greek Ministry of Finance before the purchase deed is signed, as the notary needs to attach the proof of payment to the deed.

2. Notary Fees

The notary prepares the deed which is signed in the presence of the parties or their lawyers, if appointed. The minimum notaries’ fees are defined by the Greek Law. Notaries normally charge about 2% of the sales price (plus VAT), or the tax value of the property, again whichever is higher.

3. Land Registry Fees

Following the signing of the deed, the notary prepares an application and a summary of the deed signed to be sent and registered at the local land registry so that the property transfer is by law completed. The land registry fees due amount to about 0.5 percent of the property sold.

Other Costs of Buying a Home in Greece

Beyond those charges, the buyer should also take into consideration the following:

4. Lawyer’s Costs

It is not obligatory to have a lawyer take part in the process though it is highly recommended to have a legal expert check over what exactly it is that you are buying and to guide you through the whole process. Their fees range between 1-2 percent (plus VAT), depending on the provider services.

5. Real Estate Agent’s Commission

Commission is due if a real estate agent is involved in the sale. Most agencies charge a commission that ranges between 2-4 percent of the agreed purchase price (plus VAT).

Note on VAT For Newly Built Homes In Greece

In the event that a completed newly-built home is sold by a construction company then VAT of 24 percent applies. In a bid, however, to support the real estate sector, the Greek government allows construction companies to apply for an exemption of this tax.

This 24% VAT on the full purchase price is not due for new homes that are sold off-plan. In that case, the buyer starts by buying the building plot before construction starts, paying the 3.09% transfer tax on the price of the plot.  For a complete explanation of VAT in Greece, click here.

What Are the Costs of Owning a House in Greece?

1. Internet & Utility Fees

On average, you can expect to pay around 20-35 Euros for internet monthly. For an 85 m2 apartment, you’ll pay between €150-300 for utilities, such as electricity, gas, and water. This number will vary based on the size of your house, the season, and your usage.

2. Vehicle Registration

This cost isn’t necessarily associated with your home in Greece, but if you live in many areas of Greece outside of Athens or Thessaloniki, having a car can be a necessity.

Paying annual taxes on your car or motorbike in Greece must be done online. You can pay through AADE’s myCar platform. Payment receipts typically include a QR code, so that you can pay through mobile banking.

Chapel of Agios Georgios by Korissia

3. Home Insurance

Greek law does not require home insurance, so insuring your property is not mandatory, but is surely recommended. If you are the owner of a new development, note that the construction company’s insurance has probably expired on the date of delivery. There are various insurance agencies throughout Greece with plans provided for every budget.

How Much Does Home Insurance Cost in Greece?

The cost of home insurance in Greece can vary from 150 to 1300 euros, depending on a few factors:

How Much Your Home is Worth

The premiums depend on several factors.  They depend on the risks you wish to cover, the insured values of the house, the contents, third-party liability, the location, and other factors. More expensive homes cost more to insure. The price will be determined by current construction values.

Where Your Home Is

Homes that are in a quiet, safe neighborhood, usually cost less. Other geographic factors also affect the price of insurance, depending on the area of Greece.

What Kind of Coverage You Want

More coverage usually costs more. If you want to insure everything you own inside your home, it will cost more than just insuring the building.

How Old Your Home Is and What It’s Made Of

Newer homes that are built well generally cost less to insure. Older homes might need more repairs, so they generally cost more to insure.

Security

If your home has a security system, you might pay less for insurance because it’s less likely to be broken into.

It’s best to talk to your broker or insurance company to get an exact price for your home insurance. They will need specific details about your property.

Oia

4. Maintenance Costs

Annual maintenance on your home in Greece will make sure you can keep enjoying your home’s amenities for years to come.

Pool & Garden

Maintaining a pool and garden can cost between 150 and 350 euros per
month. Of course, these costs can change based on the style of the pool
and the size of the garden.

Annual Upkeep

Most homes in Greece (and anywhere else, for that matter) require updates like painting, polishing, and repairing over the course of years of use. In Greece, it is recommended to repaint pergolas or wooden items which are exposed to the sun, so that they continue looking like new. Costs for annual upkeep can vary from 1,000 to 4,000 euros per year, depending on the quality of construction and furniture.

Pool Bar | © Hotel Grande Bretagne

If These are the Costs of Owning, What is the Expected Return on Investment?


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