Last updated 14 October 2026. By Demetre E. Katsouris, Managing Partner, Katsouris Law Firm.
The short answer: three measures that currently reduce the cost of buying, selling and letting Greek property have the same expiry date, 31 December 2026. Each has been extended before and may be extended again, but none has been yet, and the government has not said it will. A buyer, seller or landlord who can complete before the year ends should plan to; one who cannot should know what the cost is if the extension does not come.
1. The 24% VAT suspension on new builds
What it is. A newly built property sold by a developer is in principle subject to 24% VAT on the price, instead of the 3.09% transfer tax that applies to resales. Since 2020 that VAT has been suspended, at the developer’s election, for permits issued and sales made within the suspension period, so that buyers of new apartments pay 3.09% transfer tax instead. The suspension currently runs to 31 December 2026.
What it is worth. On a €500,000 apartment, 24% VAT is €120,000; 3.09% transfer tax is €15,450.
Who it affects. Every buyer of a new build from a developer, Greek or foreign, and every developer pricing a project for sale in 2027. For a non-EU individual buyer the VAT question interacts with the proposed 15% transfer tax from 1 July 2027: if both apply as currently described, a non-EU buyer of a new apartment in July 2027 could face either 24% VAT or 15.45% transfer tax depending on how the developer and the law treat the project. That is the worst case and it is unresolved.
The deadline mechanics. The relevant act is the signing of the final deed and the developer’s VAT election covering that project. A reservation or pre-contract does not fix the position. A building that will not have its completion certificate and horizontal-property deed by December cannot close in time; ask the developer for the dates in writing.
2. The capital gains tax suspension on resales by individuals
What it is. A 15% tax on the gain an individual makes on selling Greek property was introduced in 2014 and has been suspended every year since 2015. The current suspension runs to 31 December 2026. If it lapses, an individual selling in 2027 pays 15% on the difference between the price and the acquisition cost, with reductions for length of ownership.
Who it affects. Any individual, resident or not, who sells a property acquired after the tax’s reference date. Companies are taxed on gains under corporate tax in any event. Owners who bought in 2015–2020 at the bottom of the market and are considering a sale have the most at stake.
The deadline mechanics. The date of the deed of sale, which means the buyer’s financing, certificates and tax clearance must be ready in December at the latest. A seller abroad also needs the power of attorney, the tax number and an updated E9 in place.
3. The three-year income-tax exemption for homes switched to long lets
What it is. An individual who lets a home of up to 120 sq.m. on a long lease of at least three years, where the home was previously declared vacant or used for short-term rental, pays no income tax on that rent for three years. The lease must be concluded and declared by 31 December 2026. The size limit rises by 20 sq.m. for each dependent child beyond the second.
What it is worth. On rent of €1,500 a month, three years’ tax at the 2026 bands is roughly €8,000 to €10,000, depending on the owner’s other rental income.
Who it affects. Owners abroad who have been short-letting an Athens flat and are weighing the May 2026 platform rules; owners of flats that have stood empty while the family decided what to do.
The deadline mechanics. The lease must be signed, the tenant must accept the electronic declaration, and the rent must be paid into the declared account, all before the year ends. A lease signed on 30 December and declared on 5 January misses it.
What to do in the next ten weeks
If you are buying a new build: get the developer’s written confirmation of the VAT election and the target deed date, and have your own side — tax number, bank account, funds, power of attorney — ready by November.
If you are selling: instruct the engineer for the building identity and certificates now; they are the slowest item. Agree with the buyer a deed date in the first half of December with a fallback.
If you are deciding between short-term and long-term letting: run the three-year exemption against your actual short-term net, including the fee, insurance, management and the 25% band, and decide by November so the lease can be in place by December.
If none of the three can be completed in time: price the 2027 outcome into the deal now. A seller who cannot close before year-end can negotiate the price on the assumption that the capital gains tax returns; a developer can offer a price that absorbs part of the VAT risk; a landlord can still take a long lease in 2027 without the exemption.
Frequently asked questions
Have these been extended before? Yes, each of them, more than once, usually in the autumn budget legislation. That is a reason to watch, not a reason to assume.
Does the long-let exemption apply if the tenant is a company? The rules are written for residential letting to individuals; take advice on the specific case.
I am a non-EU buyer. Which date matters more, 31 December 2026 or 1 July 2027? Both. The VAT suspension affects the price of a new build; the 15% transfer tax, if enacted, affects every residential purchase by a non-EU individual. A new-build purchase by a non-EU buyer that closes in the first half of 2027 avoids the second but not necessarily the first.
This article is general information, not legal advice; it reflects the position on the date above and may change.
To work out whether a purchase, sale or lease can complete before 31 December 2026, contact us at info@katslaw.eu or +30 210 8982 864.
