Additional Costs When Buying Property in Greece

Transfer tax or VAT: the seller decides

A Greek purchase carries one of two taxes, never both. On a resale, or on a new home sold without VAT, the buyer pays transfer tax: 3% of the taxable value plus a 3% municipal surcharge on that tax, which comes to 3.09%. The base is the higher of the contract price and the state's objective value, so a discounted contract price does not shrink the bill, and the tax must be paid before the notary can draw the deed.

A new building sold by a developer is different. It is subject to 24% VAT unless the developer uses the VAT suspension, which Law 5246/2025 extended to 31 December 2026; in that case you pay the 3.09% transfer tax instead. On a €300,000 home that is the gap between about €9,270 and €72,000, so ask the seller to state in writing which regime applies and whether a deed signed after 31 December 2026 would change it.

A 15% rate announced for non-EU buyers

In early September 2026 the Greek government announced that the transfer tax on homes bought by individuals from outside the EU and EEA would rise from 3% to 15%, or about 15.45% with the municipal surcharge. Finance Minister Kyriakos Pierrakakis gave 1 July 2027 as the start date. As of 10 October 2026 this was an announcement, not a law: it was expected to travel in an omnibus bill, and the treatment of preliminary agreements and purchases already under way had not been published.

As announced, the higher rate covers homes only, not land or commercial property, and not companies. Greek citizens, EU and EEA citizens and holders of long-term resident status are exempt. A US citizen is a third-country national, so the announced design would reach you. On a €300,000 home the tax would move from about €9,270 to about €46,350. Do not budget the old figure for a deed you expect to sign after June 2027, and ask your lawyer in writing how a preliminary agreement signed earlier would be treated.

Registry, notary, lawyer and agent: ranges, not rates

Four more items sit on top of the tax. Published figures differ enough that you should treat the ranges below as a way to size the budget, and ask for written quotes before relying on any of them.

• Land registry or cadastre registration: Greek press price lists put it at about 0.475% to 0.6% of value, plus 24% VAT, depending on whether the property sits in a legacy land registry or a cadastral office.
• Notary: a 2023 price list in Ta Nea gives a sliding scale of 0.1% to 0.8% of value plus fixed fees and page charges, with 24% VAT. Some advisers budget about 1% to 2% all in.
• Lawyer: negotiated, and commonly quoted at roughly 0.5% to 2% of the price plus VAT.
• Estate agent: commonly about 2% plus VAT, charged to the buyer, the seller or both depending on the agency agreement.

On a €300,000 purchase, tax plus the first three items come to roughly €13,300 at the low end and €21,900 at the high end, or about 4.4% to 7.3% of the price, before any agent. That is arithmetic on the ranges above with VAT where it applies, not a quote.

If a Greek bank lends against the home

Greek lenders register their security as a mortgage lien, and one large bank states that the lien usually equals 120% of the loan. Registration is charged on that larger figure: the same bank lists about 0.8% at a land registry or 0.9% at the cadastre, plus a state levy under Law 128/1975 of 0.12% on a home loan. On a €195,000 loan (65% of €300,000) a lien of €234,000 would carry registration of roughly €1,900 to €2,100, before the lawyer's fee for the lien and any valuation or engineer charge the bank adds.

Costs that exist because you are a US buyer

• Paper from home. The United States and Greece are both parties to the Hague Apostille Convention, so a US public document normally needs an apostille and a Greek translation. A power of attorney is signed before a notary, on the bank's template if a bank loan is involved.
• The payment channel. Since 11 December 2023 the price of a property in a notarial deed must be paid through the banking system, with a fine of 10% of the unbanked amount and a minimum of €10,000. Budget wire fees on both ends.
• The exchange rate. At the ECB reference rate of 1.1206 on 9 October 2026, €300,000 is about $336,200, and every cent of movement is worth about $3,000. Your bank's or transfer provider's spread comes on top, so get the rate in writing.
• US reporting. Greek real estate held in your own name is not reported on the FBAR or on Form 8938, but the Greek bank account you open to pay for it can be. Budget a preparer who has filed an FBAR before.
• No credit for purchase taxes. The only US-Greece income tax treaty dates from 1950 and covers income taxes, and the US foreign tax credit likewise applies to foreign income taxes. The transfer tax, VAT and registry fees are therefore not credits against your US tax; ask your tax adviser how they enter your cost basis if you later sell.

Annual costs after the purchase, including ENFIA and the municipal charges on the electricity bill, are covered in our guide to what a Greek property costs a US owner every year.

Questions US buyers ask

Continue your Greek property research

• Greek Preliminary Agreements and Mortgage Finance
• Santorini Mortgage Guide for US Buyers
• Where to Buy in Santorini: A Mortgage View for US Buyers
• What a Greek Property Costs a US Owner Every Year