When buying a property or plot in Greece, the buyer is responsible for several additional costs beyond the agreed sale price. These expenses are usually calculated based on the contractual value of the property. Below is a breakdown of the typical purchase-related costs:
1. Property Transfer Tax (or VAT)
- For resale properties, the buyer must pay 3% transfer tax on the property value.
- This tax must be paid before signing the final contract of sale.
- For newly built properties with a construction permit issued after 1 January 2006, 24% VAT is applied instead of transfer tax. This VAT is calculated on the net price of the property (excluding legal and service fees).
Important note: While the standard rule states that newly built properties with a construction permit issued after 1 January 2006 are subject to 24% VAT instead of transfer tax, this VAT has been officially suspended until 31 December 2025. During the suspension, only the 3% property transfer tax applies, even for new builds. However, it is not certain that the 24% VAT will return in 2026. The Greek government may choose to extend the suspension or introduce new legislation to further support the real estate market. Buyers considering a new property are encouraged to take advantage of this opportunity while it lasts, as future tax conditions remain uncertain.
2. Notary Fee
A Greek notary is required to draft and oversee the signing of the final sale contract. Their fee is regulated by law and based on the declared property value.
Indicative Notary Fee Rates (2025):
- Up to €120,000 → 0.80%
- €120,000.01 – €380,000 → 0.70%
- €380,000.01 – €2,000,000 → 0.65%
- €2,000,000.01 – €5,000,000 → 0.55%
- €5,000,000.01 – €8,000,000 → 0.50%
3. Land Registry / Cadastre Registration Fee
The final contract must be registered at either the Land Registry (Ipothikofilakio) or the National Cadastre (Ktimatologio), depending on the property’s location. Land Registry fees include:
- Registration rights
- Official certificates
- Stamp duty
Estimated total cost:
0.475% – 0.575% of the contract value, plus 24% VAT.
4. Legal Fee
The fee varies based on the extent of the lawyer’s involvement and is agreed upon in advance between the client and the lawyer. Indicative legal fees range from 1.5% to 2% of the purchase price, plus 24% VAT. This usually includes:
- Legal due diligence
- Drafting or reviewing contracts
- Representation with Power of Attorney
- Coordination with the notary and tax office
5. Real Estate Agent’s Commission
The buyer pays a commission of 3% of the property price, plus 24% VAT, to the real estate agent assisting with the transaction.