Costs of Buying Property in Greece: Complete Buyer Budget

Purchase price versus total acquisition budget

A Greek property purchase involves three layers of cost, and they behave differently:

• Statutory taxes — transfer tax (or VAT where it applies) is set by law and not negotiable.
• Scaled and negotiated fees — notary and registration costs broadly track the property value; legal, agency, engineering, and accounting fees are agreed with each professional, usually plus 24% VAT.
• Property-specific and ongoing costs — repairs, furnishing, utility setup, and the annual costs of ownership, led by ENFIA.

Because the second and third layers vary by property and negotiation, no honest guide can hand you one universal percentage. What it can do — and what this page does — is list every line item, show which are fixed and which are not, and give worked examples so you can see how a full budget is assembled.

To put your own numbers on these line items as you read, use our property purchase cost calculator — every assumption in it is editable.

All buyer costs at a glance

Transfer tax — and when VAT applies instead

Real estate transfer tax

In every purchase of Greek property, a transfer tax is imposed, and paying it is the buyer's responsibility. According to AADE, the rate is 3% on the taxable value of the property, and the main tax additionally carries a levy in favor of municipalities of 3% of the tax itself — which is why an effective rate of about 3.09% is widely quoted.

Procedurally, buyer and seller submit a joint transfer tax declaration before the contract is drawn up, and the tax is generally payable within three working days of the declaration. Your lawyer and notary coordinate this; the notary will not complete the deed without evidence the tax position is settled.

The "taxable value" is not always the price you agreed. Greece uses administratively determined objective values, and tax can be assessed on the higher of the objective value and the contract price. Ask your lawyer to confirm the basis for your specific property, because it changes the tax bill directly. Reduced rates exist for particular situations — such as qualifying primary-residence purchases — which is another reason to confirm your position rather than assume the headline rate.

When VAT may apply instead

Qualifying newly built properties sold by developers can fall under VAT at the standard rate rather than transfer tax. However, VAT on new buildings has been suspended — professional summaries report the suspension extended through 31 December 2026 — so many new-build purchases currently attract transfer tax instead. This treatment is time-limited and property-specific: confirm with your lawyer and the developer which regime applies before you budget, because the difference is large.

Notary, lawyer, and registration costs

Notary fees

The notary is a mandatory, neutral public official who draws up and certifies the deed. Notarial fees are broadly scaled to the declared property value, with additional charges per sheet and for copies, plus 24% VAT. Ask the notary's office for a written fee estimate for your transaction — they can calculate it precisely once the value is known.

Lawyer fees

Your independent lawyer's fee is agreed between you — commonly a percentage of the price or a fixed fee, plus VAT, sometimes staged between due diligence and completion. There is no universal mandatory rate, so get a written engagement letter setting out scope and fee before work begins. What the lawyer actually does for that fee — and why it is not the place to economize — is covered in our guide to what an independent property lawyer checks.

Land registry / Hellenic Cadastre registration

Your ownership is perfected only when the deed is registered with the local land registry or the Hellenic Cadastre. Registration fees are scaled to the property value, with small fixed charges on top. Your lawyer or notary will quote the amount for your transaction; budget for it as a value-linked cost rather than a token administrative fee.

Agent, engineer, and accountant costs

Estate agent commission

In Greece it is common for the buyer to pay an agency commission — often discussed at around 2% plus VAT — but the arrangement is negotiable and varies by region and agency. Agree the commission in writing before viewing seriously, and confirm exactly who pays what: in some transactions the seller pays, in some both sides pay.

Engineer, surveyor, and technical inspection

A civil engineer or surveyor checks building legality, permits, boundaries, and condition — checks that are property-specific and priced accordingly. A straightforward apartment review costs less than a rural plot with boundary questions or an older building with permit history. For what these checks cover and why they matter, see our Greek property due-diligence guide.

Accountant and AFM-related costs

Every buyer needs a Greek tax number (AFM) — the number itself is issued without charge through the official process, but many overseas buyers pay an accountant or lawyer to obtain it on their behalf under power of attorney, and to handle the E9 property declaration and other filings after purchase. Our guide to how to obtain an AFM as a foreign buyer explains the process and where professional help is genuinely useful.

Translations, power of attorney, and banking costs

Certified translation and interpretation

Foreign documents used in the purchase — passports aside — may need certified translation into Greek, and a buyer who does not speak Greek may need an interpreter at the notarial signing. Translation is priced per document or page; ask your lawyer which documents your transaction will actually require rather than translating speculatively.

Power of attorney and apostille

Overseas buyers who cannot attend in person typically grant a limited power of attorney to their lawyer. If signed abroad, the document generally needs notarization and an apostille in your home country, plus certified translation — each step carries its own fee. Keep the authority tightly scoped; the cost of doing it properly is small against the risk of doing it loosely.

Bank, currency-conversion, and transfer costs

Moving a six-figure sum into euros is a real cost line, not a rounding error. Banks and specialist providers differ meaningfully on exchange-rate spreads and transfer fees, and Greek banks may charge for incoming transfers and banker's drafts used at completion. Compare providers before the money moves, and keep clear records — the source of funds must be documented for the purchase. Our banking in Greece guide covers opening and using a Greek account as a foreigner.

Mortgage costs and immediate setup costs

If you borrow from a Greek bank, expect lender-specific costs on top: arrangement fees, a bank valuation, mortgage registration at the land registry / cadastre (a further value-linked fee), and typically compulsory property insurance. Terms for non-residents are generally conservative; confirm the full fee schedule in the loan offer rather than assuming it mirrors your home country.

Finally, budget honestly for the property itself: immediate repairs, renovation, furnishing, and utility connections or transfers. These are the most variable numbers in the whole budget and the most commonly underestimated — especially for older and rural properties, where an engineer's report before purchase is also your best renovation-cost estimate.

Annual ENFIA and recurring ownership costs

Ownership costs do not end at completion. The main recurring items:

• ENFIA — Greece's annual property ownership tax, assessed on the property's characteristics and location. See our ENFIA guide for how it works.
• Utilities — electricity, water, and connectivity in your name.
• Common expenses — for apartments, the building's shared costs (koinochrista), which vary with the building's facilities.
• Insurance and maintenance — including seasonal upkeep for a second home.
• Tax filings — property owners file the E9 declaration and, if letting, declare rental income in Greece; most non-resident owners retain a Greek accountant.

Worked buyer-budget examples

The examples below show how a full acquisition budget is assembled at three price points. They are educational illustrations, not quotes: statutory tax uses the AADE-published rate, while professional fees use mid-range planning assumptions that you should replace with written quotes. All professional fees shown are indicative and attract VAT; totals are rounded.

Three honest caveats. First, the assumed percentages for notary, legal, and agency fees are planning placeholders — yours will differ, and each is negotiable or quoted case by case. Second, the transfer tax line assumes the taxable value equals the price; if the objective value is higher, the tax rises. Third, none of these totals include renovation, furnishing, mortgage costs, or the ongoing annual costs above. That is exactly why the budget should be built line by line for your property.

Cost-control checklist

• Get every professional fee in writing — engagement letters for lawyer and accountant, fee estimates from the notary, commission agreement with the agent.
• Confirm the tax regime early — transfer tax or VAT, the taxable value basis, and any relief you qualify for.
• Compare currency-transfer providers before moving funds; the spread on a large transfer can exceed several professional fees combined.
• Price the technical checks by property type — more for rural land, older buildings, and renovations.
• Hold a contingency — a margin of the purchase price for the unplanned, separate from renovation budgets.
• Budget year one and year five — include ENFIA and running costs, not just the completion statement.
• Do not cut due diligence — the cheapest purchase is the problem you never bought. Work through our buying checklist alongside this budget.