Country Guides Country Guide: Greece

Date Published:

30/05/2008

Purchase Tax

The main fee is purchase (or transfer) tax, which is based on the ‘assessed tax value’. Purchase tax is payable by the buyer at seven per cent on the first €15,000 and at nine per cent on the remainder, unless the property is situated in an area covered by a public fire protection service (this includes most areas that are popular with foreign buyers). If this is the case, the rates are increased to nine per cent on the first €15,000 and 11 per cent on the remainder.

Value Added Tax (VAT)

New constructions with a building license issued from January 2005 are subject to VAT at the rate of 18 per cent.

Land Registry Fees

Land registry fees are from 0.3 to 0.5 per cent of the ‘assessed tax value’ plus a small sum for stamp duties and certificates.

Notary’s Fees

The fees for the notary, who draws up the final purchase contract and officiates the sale, are usually between one and two per cent of a property’s ‘assessed tax value’.

Legal Fees

Legal fees for the conveyancing involved in a sale are up to one per cent of the ‘assessed tax value’. The actual fee depends on the value of the property.

Community or Municipal Tax

A community tax of three per cent of the property transfer tax is paid to the local municipality for general public services such as road maintenance. Note that this tax is paid at the same time as the purchase tax to the central tax office.

Surveyor’s Fees

If you employ a surveyor to inspect a building or plot of land, the fee will depend on the type of survey, any special requirements and the value of the property or land. A survey costs from €250 (£230).

Selling Agent’s Fees

Estate agent’s fees (generally between two and five per cent of the purchase price) are usually paid by both parties, with the vendor and buyer paying half each. Sometimes an allowance is made for this when setting the sale price, so in effect the buyer pays.