Authored by the expert who managed and guided the team behind the Greece Property Pack
Yes, the analysis of the Greek Islands' property market is included in our pack
Buying property in the Greek Islands comes with extra costs beyond the purchase price, and knowing these fees upfront helps you budget properly.
We constantly update this blog post to reflect the latest tax rates, fees, and regulations that affect foreign buyers in the Greek Islands.
This guide covers everything from transfer taxes to notary fees, so you can plan your purchase with confidence.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in the Greek Islands.
Overall, how much extra should I budget on top of the purchase price in the Greek Islands in 2026?
How much are total buyer closing costs in the Greek Islands in 2026?
As of early 2026, total buyer closing costs in the Greek Islands typically range from 4.5% to 10% of the purchase price, which means on a €300,000 property (around $315,000 or £250,000), you should expect to pay an extra €13,500 to €30,000 in fees and taxes.
If you keep expenses to the bare legal minimum by skipping optional services like a buyer's agent, you can get your closing costs down to around 4.5% to 5.5% of the purchase price, or roughly €13,500 to €16,500 on that same €300,000 Greek Islands property.
However, if you want a thorough purchase with a lawyer, buyer's agent, engineering checks, and certified translations, you should realistically budget up to 9% to 10%, which translates to €27,000 to €30,000 on a €300,000 home in the Greek Islands.
The main factors that push your closing costs toward the high end in the Greek Islands include whether you hire a buyer's agent (adds around 2.5%), whether you need extensive engineering checks for permit issues (common on islands), and whether you require translation services for legal documents.
What's the usual total % of fees and taxes over the purchase price in the Greek Islands?
The usual total percentage of fees and taxes when buying property in the Greek Islands falls between 6% and 8% of the purchase price for most standard residential transactions in 2026.
This range can stretch from as low as 4.5% for a simple resale with no buyer's agent to as high as 10% when you add legal representation, engineering reports, and full professional support for your Greek Islands purchase.
Of that total, government taxes (mainly the 3% transfer tax plus municipal surcharge) make up roughly half, while the other half goes to professional service fees like the notary, lawyer, and potentially your real estate agent in the Greek Islands.
By the way, you will find much more detailed data in our property pack covering the real estate market in the Greek Islands.
What costs are always mandatory when buying in the Greek Islands in 2026?
As of early 2026, the mandatory costs when buying property in the Greek Islands include the property transfer tax (around 3.09%), notary deed fees (0.8% to 1.2%), and registration in the cadastre or land registry (0.5% to 0.6%).
While not legally required, costs that are highly recommended for foreign buyers in the Greek Islands include hiring an independent lawyer for title checks (0.5% to 1%), an engineer's report for permit and boundary verification (€800 to €2,500), and a certified translator if you don't read Greek legal documents (€200 to €600 per day).
Don't lose money on your property in the Greek Islands
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
What taxes do I pay when buying a property in the Greek Islands in 2026?
What is the property transfer tax rate in the Greek Islands in 2026?
As of early 2026, the property transfer tax rate in the Greek Islands is 3% of the taxable value, though in practice buyers typically pay around 3.09% due to a small municipal surcharge applied on top.
There are no extra transfer taxes for foreigners buying property in the Greek Islands, as the same 3% rate applies to both residents and non-residents under Greek law.
Buyers may face 24% VAT instead of transfer tax when purchasing a new-build property directly from a developer, but a VAT suspension regime has been extended through December 31, 2026, which means most qualifying new builds in the Greek Islands still fall under the 3% transfer tax instead.
Traditional stamp duty has largely been abolished in Greece and replaced by a digital transaction duty that applies only to specific cases, so for a standard home purchase in the Greek Islands in 2026, stamp duty is generally not something you need to budget for.
Are there tax exemptions or reduced rates for first-time buyers in the Greek Islands?
Greece offers a "first residence" exemption that can eliminate transfer tax entirely up to specific value thresholds, with higher limits available for buyers with children, though this is designed for primary residences rather than holiday homes in the Greek Islands.
If you buy property through a company instead of as an individual in the Greek Islands, the transfer tax versus VAT logic remains broadly similar, but company ownership introduces extra compliance layers and potentially special property taxes for entities.
There is a tax difference between new-build and resale properties in the Greek Islands: resales typically attract the 3% transfer tax, while new builds sold by developers would normally face 24% VAT, though the VAT suspension regime often means new builds also pay transfer tax through 2026.
To qualify for the first residence exemption in the Greek Islands, buyers must meet conditions including using the property as their primary home, and in high-price islands like Mykonos or Santorini, purchase values often exceed the tax-free thresholds anyway.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Greece versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
Which professional fees will I pay as a buyer in the Greek Islands in 2026?
How much does a notary or conveyancing lawyer cost in the Greek Islands in 2026?
As of early 2026, notary fees in the Greek Islands typically run from 0.8% to 1.2% of the property value, so on a €300,000 purchase you'd pay around €2,400 to €3,600 (approximately $2,500 to $3,800 or £2,000 to £3,000) plus fixed costs for copies and certificates.
Notary fees in the Greek Islands follow a regulated framework set by ministerial decision rather than being purely market-priced, while lawyer fees are negotiable and typically charged as a percentage (0.5% to 1%) of the property price.
Translation and interpreter services for foreign buyers in the Greek Islands generally cost €200 to €600 per day (around $210 to $630), with additional per-page fees if you need certified translations of multiple legal documents.
A tax advisor is not always necessary in the Greek Islands, but becomes valuable if you're buying through a company, planning short-term rentals, or pursuing Golden Visa residency, with advisory packages typically costing €300 to €1,500 ($315 to $1,575).
We have a whole part dedicated to these topics in our our real estate pack about the Greek Islands.
What's the typical real estate agent fee in the Greek Islands in 2026?
As of early 2026, the typical real estate agent fee in the Greek Islands ranges from 2% to 3% of the sale price per side, which on a €300,000 property means €6,000 to €9,000 (around $6,300 to $9,450) plus 24% VAT on the commission.
Whether the buyer or seller pays the agent fee in the Greek Islands depends entirely on what you sign, as brokerage relationships are contractual and negotiable, with some deals having the seller pay and others requiring the buyer to pay a separate buyer's agent fee.
The realistic range for agent fees in the Greek Islands spans from 2% on the low end to 3% or occasionally higher on the luxury end, so you should always ask for a written fee agreement before viewing properties seriously.
How much do legal checks cost (title, liens, permits) in the Greek Islands?
Basic legal due diligence including title search, liens verification, and registry extracts in the Greek Islands typically costs €300 to €1,000 ($315 to $1,050) when billed separately, or is often rolled into your lawyer's overall fee.
Property valuation fees in the Greek Islands typically run €250 to €600 ($265 to $630) for a standard bank-style assessment, with more complex or luxury properties commanding higher fees.
The most critical check you should never skip in the Greek Islands is the engineer's permit and legality review, costing €800 to €2,500 ($840 to $2,625), because island properties frequently have boundary mismatches, illegal extensions, or coastal setback issues that can create serious problems later.
Buying a property with hidden issues is something we mention in our list of risks and pitfalls people face when buying real estate in the Greek Islands.
Get the full checklist for your due diligence in the Greek Islands
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.
What hidden or surprise costs should I watch for in the Greek Islands right now?
What are the most common unexpected fees buyers discover in the Greek Islands?
The most common unexpected fees buyers discover in the Greek Islands include extra engineering work for illegal extensions or missing drawings, utility reconnection charges for properties that sat empty, condo or community arrears on shared expenses, and higher insurance premiums due to sea exposure.
Yes, there are unpaid property taxes or debts a buyer could inherit in the Greek Islands, which is why you should always obtain proof that the seller is current on ENFIA (annual property tax) and any municipal charges before closing.
Scams do occur in the Greek Islands property market, typically involving pressure deposits to non-traceable accounts or "reservation fees" without proper contracts, so you should only pay deposits through lawyer or notary handling and always insist on official documentation.
Fees that are usually not disclosed upfront in the Greek Islands include buyer agent commissions (if you assumed the seller pays), engineering legalization costs for permit issues, condo arrears from previous owners, and practical costs like furniture removal or reopening utilities.
In our property pack covering the property buying process in the Greek Islands, we go into details so you can avoid these pitfalls.
Are there extra fees if the property has a tenant in the Greek Islands?
When buying a property with a tenant in the Greek Islands, extra costs typically include additional lawyer time to review the lease (€200 to €500 or $210 to $525), utility bill settlements, and potentially compensation if you want vacant possession quickly.
As a buyer of a tenanted property in the Greek Islands, you inherit the existing lease agreement and must honor its terms, including the tenant's right to remain until the lease expires under Greek rental law.
Terminating an existing lease immediately after purchase is generally not possible in the Greek Islands unless the lease has specific break clauses or the tenant agrees to leave voluntarily, often in exchange for compensation.
A sitting tenant typically affects the property's market value in the Greek Islands by reducing buyer interest and giving you more negotiating power, though investor buyers may actually prefer tenanted properties for the guaranteed rental income.
If you want to optimize your rental strategy, you can read our complete guide on how to buy and rent out in the Greek Islands.
We have made this infographic to give you a quick and clear snapshot of the property market in Greece. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which fees are negotiable, and who really pays what in the Greek Islands?
Which closing costs are negotiable in the Greek Islands right now?
The closing costs that are negotiable in the Greek Islands include real estate agent commissions (both rate and who pays), lawyer fee structures (fixed versus percentage), and sometimes who covers extra engineering checks if defects are seller-caused.
Closing costs that are fixed by law and cannot be negotiated in the Greek Islands include the transfer tax rate (3%), VAT when applicable (24%), and core registration and notary statutory components set by official fee schedules.
On negotiable fees in the Greek Islands, buyers can typically achieve discounts of 0.25% to 0.5% on agent commissions or secure fixed-fee arrangements with lawyers rather than percentage-based billing, especially for straightforward transactions.
Can I ask the seller to cover some closing costs in the Greek Islands?
Yes, asking the seller to cover some closing costs is possible in the Greek Islands, though success depends heavily on market conditions and how motivated the seller is to complete the sale.
The specific closing costs sellers are most commonly willing to cover in the Greek Islands include engineering legalization work (especially if the seller caused the permit issues), outstanding condo arrears, and sometimes a price adjustment to offset part of buyer-side fees.
Sellers in the Greek Islands are more likely to accept covering closing costs when the property has been on the market for a long time, when there are known defects, or during slower seasons outside the peak summer buying period.
Is price bargaining common in the Greek Islands in 2026?
As of early 2026, price bargaining is common in the Greek Islands, though the amount of discount you can achieve varies significantly depending on the specific island and property condition.
Buyers in the Greek Islands typically negotiate 3% to 8% below the asking price on normal listings, or 10% or more (€30,000+ on a €300,000 property) when there are defects, permitting uncertainty, or slower demand, though prime Mykonos and Santorini properties often see smaller discounts due to high competition.
Don't sign a document you don't understand in the Greek Islands
Buying a property over there? We have reviewed all the documents you need to know. Stay out of trouble - grab our comprehensive guide.
What monthly, quarterly or annual costs will I pay as an owner in the Greek Islands?
What's the realistic monthly owner budget in the Greek Islands right now?
For an owner-occupied property in the Greek Islands, a realistic monthly budget ranges from €250 to €600 ($265 to $630) for a typical apartment, or €400 to €1,000+ ($420 to $1,050+) for a house or villa, excluding any mortgage payments.
The main recurring expense categories that make up this monthly budget in the Greek Islands include utilities (electricity, water, internet), community or building charges, routine maintenance, and property insurance.
The realistic low-to-high range for monthly owner costs in the Greek Islands spans roughly €2.50 to €6 per square meter for apartments and €4 to €10+ per square meter for houses, meaning a 100-square-meter apartment costs around €250 to €600 monthly while a 150-square-meter villa runs €600 to €1,500.
The monthly cost that tends to vary the most in the Greek Islands is maintenance, because island properties face salt corrosion, wind exposure, and pool upkeep that mainland Greece properties typically don't, plus summer water delivery costs on some islands with shortages.
You can see how this budget affect your gross and rental yields in the Greek Islands here.
What is the annual property tax amount in the Greek Islands in 2026?
As of early 2026, the annual property tax (ENFIA) in the Greek Islands typically amounts to around 0.1% to 0.3% of the property's objective value, which means a property with a €200,000 objective value pays roughly €200 to €600 ($210 to $630) per year.
The realistic low-to-high range for annual property taxes in the Greek Islands spans from around €200 per year for modest apartments to €1,500 or more ($1,575+) for high-value villas in prime locations like Mykonos or Santorini.
ENFIA in the Greek Islands is calculated based on zone values, property size, age, and various coefficients, then assessed annually on properties owned as of January 1 and paid in installments throughout the year.
There are exemptions and reductions available in the Greek Islands for certain property owners, including low-income households and large families, though foreign holiday home owners typically don't qualify for these reductions.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Greece. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
If I rent it out, what extra taxes and fees apply in the Greek Islands in 2026?
What tax rate applies to rental income in the Greek Islands in 2026?
As of early 2026, rental income tax in the Greek Islands follows a progressive scale: 15% on the first €12,000, 25% on income from €12,001 to €24,000, 35% from €24,001 to €36,000, and 45% on anything above that.
Greece uses specific deduction rules for rental income rather than allowing you to deduct all expenses like a business, so unless your rental activity is classified as a business operation, the deductions available to landlords in the Greek Islands are quite limited.
The realistic effective tax rate for typical landlords in the Greek Islands earning moderate rental income (under €12,000 per year) is 15%, though those with higher-yielding properties or multiple rentals will hit the 25% and 35% brackets.
Foreign property owners pay the same rental income tax rates as Greek residents when renting out property in the Greek Islands, though your overall tax situation may be affected by your country of tax residency and any applicable tax treaties.
Do I pay tax on short-term rentals in the Greek Islands in 2026?
As of early 2026, short-term rental income in the Greek Islands is fully taxable under the same progressive rental income scale (15% to 45%), plus you must register your property and comply with specific short-term rental regulations.
Short-term rental income can be taxed differently than long-term rental income in the Greek Islands if you provide hotel-like services (cleaning, breakfast, concierge), which may trigger VAT obligations and business-style tax treatment rather than simple rental income taxation.
If you want to optimize your rental strategy, you can read our complete guide on how to buy and rent out in the Greek Islands.
Get to know the market before buying a property in the Greek Islands
Better information leads to better decisions. Get all the data you need before investing a large amount of money. Download our guide.
If I sell later, what taxes and fees will I pay in the Greek Islands in 2026?
What's the total cost of selling as a % of price in the Greek Islands in 2026?
As of early 2026, the total cost of selling property in the Greek Islands typically ranges from 2.5% to 6% of the sale price, depending mainly on whether you use a real estate agent and how much legal support you need.
The realistic low-to-high percentage range for total selling costs in the Greek Islands spans from around 2.5% for a private sale with minimal professional help to 6% or more when using a full-service agent plus legal representation.
The specific cost categories that make up selling expenses in the Greek Islands include real estate agent commission (usually the largest item at 2% to 3%), legal fees for contract preparation and certificates, and administrative costs for required documents.
The single largest contributor to selling expenses in the Greek Islands is almost always the real estate agent commission, which at 2% to 3% of the sale price represents €6,000 to €9,000 ($6,300 to $9,450) on a €300,000 property.
What capital gains tax applies when selling in the Greek Islands in 2026?
As of early 2026, Greece's capital gains tax on property sales remains suspended through December 31, 2026, which means most sellers in the Greek Islands currently face no Greek capital gains tax on their property sale.
The main exemption to capital gains tax in the Greek Islands right now is simply the ongoing suspension, though even when the tax applies in the future, primary residence sales and properties held for extended periods may qualify for relief.
Foreign sellers do not pay extra capital gains taxes just for being foreign in the Greek Islands, but your personal tax residency and any applicable tax treaties with your home country may affect where and how you ultimately report and pay tax on any gains.
When capital gains tax does apply in Greece, the gain is typically calculated as the sale price minus the original purchase price, with potential adjustments for documented improvements, though the exact calculation method may change when the suspension ends.
We made this infographic to show you how property prices in Greece compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about the Greek Islands, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| AADE (Independent Authority for Public Revenue) | Greece's official tax authority and primary source for tax rates. | We used it to confirm the 3% transfer tax rate and first residence exemption thresholds. We also verified that no foreigner surcharge applies. |
| Gov.gr (Greek Government Portal) | The official Greek government services portal for citizens. | We used it to confirm the legal process and timing for property transfers. We also cross-checked that tax must be handled before signing the deed. |
| KPMG TaxNewsFlash | Major international tax advisory firm with law-specific citations. | We used it to confirm the VAT suspension extension through December 2026. We also explained when buyers pay 3% transfer tax instead of 24% VAT. |
| PwC Worldwide Tax Summaries | Regularly updated and widely used tax reference with legal citations. | We used it to confirm the 2026 rental income tax brackets and rates. We also presented this as a simple tax scale for landlords. |
| Deloitte tax@hand | Major tax advisory firm referencing relevant legal provisions. | We used it to confirm capital gains tax remains suspended through 2026. We also explained why most 2026 sales don't trigger Greek CGT. |
| EY Greece Tax Alerts | Major advisory firm summarizing enacted Greek law changes. | We used it to explain that stamp duty was replaced by digital transaction duty. We also clarified what buyers should not budget for in 2026. |
| Greek Notaries Official Fee Decision | The formal published decision setting regulated notary fees. | We used it to anchor that notary fees follow a regulated scale. We also justified our notary fee percentage ranges. |
| Hellenic Cadastre (Gov.gr) | Official portal for Greece's cadastre services and registration. | We used it to confirm deed registration is required to perfect ownership. We also framed cadastre fees as a standard closing cost bucket. |
| TaxLaw (Skouzos) | Specialized legal practice note citing governing law and Civil Code. | We used it to explain that brokerage fees are contractual and negotiable. We also clarified that who pays the agent depends on what you sign. |
| Airbnb Tax Guide for Greece | Structured tax guide with compliance focus from a major platform. | We used it to outline typical tax categories for short-term letting. We also cross-checked the practical requirements for rental registration. |
| AADE ENFIA Guidance | AADE administers ENFIA, making this the official reference. | We used it to confirm ENFIA is calculated annually on January 1 holdings. We also explained the installment payment structure. |
Get fresh and reliable information about the market in the Greek Islands
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
Related blog posts
- Is now a good time to invest in property in the Greek Islands?