The cost of property transfer in Greece

Greece ranks at the average European level in terms of the total cost of property transfer, with the buyer's charge ranging between 5.9% and 8% of the value of the property. The final charge varies depending on the case, as a tax-free limit of up to €275,000 applies to the purchase of a first home. For the excess amount, a transfer tax of 3% is imposed, significantly lower than in the past, when it could reach up to 10%.

The reduction of tax rates in recent years has increased transparency in transactions and has contributed to the recovery of the real estate market, while limiting the phenomenon of understated value declarations in contracts. This trend is attributed to the gradual deceleration of taxes, which was deemed necessary after years of tax burdens that acted as a disincentive to prospective buyers.

According to comparative data from European countries, Greece has moderate costs. The highest level of charges is found in Belgium, where rates range from 7.2% to 17.5% depending on the region. Significant charges are also found in the United Kingdom, with a maximum rate of 15.1%, and in Italy with 15%. The group of the most expensive countries also includes the Netherlands, France, Spain, Luxembourg, Germany, Malta, Portugal and Spain, with rates ranging between 11% and 14.9%.

By contrast, the lowest positions in terms of transfer costs are held by Estonia, Slovakia and Denmark, where charges start at just 0.52% and do not exceed 3%. In the Balkan region, countries such as Bulgaria and Cyprus show moderate levels, with maximum rates of 10.5% and 10% respectively.

In Greece, for the purchase of a first home worth 300,000 euros, the burden is significantly reduced, since the transfer tax is imposed only on the 25,000 euros that exceed the tax-free threshold, leading to a tax of 750 euros. With the addition of other costs - such as notary and lawyer's fees, registration in the Land Registry and other fees - the total transfer charge amounts to 17,000 to 24,000 euros.

Similarly, in Belgium, for a property of the same value, the minimum charge starts at €21,600, while at the highest rate it can reach €52,500. In the UK, for a property worth £500,000 (around 580,000 euros), the tax is around £12,500 or 14,600 euros, with the rate increasing for a second home or investment property.

In Estonia, the tax burden remains almost zero. For a property worth EUR 200,000, the transfer tax is only EUR 1,000, making the country one of the most attractive tax options for property purchases in Europe.