Real Estate Blog
Property transfer tax for buyers
26 Jun 2018 (originally 21 Feb 2015)
Property purchases in Greece are subject to taxation. Τhe purchase tax is paid by the buyer necessarily prior to signing the contract, when the transfer declaration is submitted by the parties to the local tax office, which makes an estimation of the property regardless of the declared price by the parties. The calculation of the tax is based on the value of the property to be transferred mentioned in the contract.
In case the value of the property according to the local tax office estimation is higher than the declared price by the parties, the tax calculation is based on the bigger value. By virtue of the article 11 of the Law 4223/2013, the transfer tax imposed on the buyer is 3% of the transfer price of the property, plus a 3% concerning City (Municipal) Tax.
Example
Property with transfer price 100.000€
Transfer tax : 100.000€ x 3% =3.000€
City (Municipal) Tax : 3.000€ x 3% = 90€
Total Transfer Tax : 3.090€
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