Over the past decade, Greece’s real estate market has made a strong recovery following the financial crisis, emerging as one of the most attractive investment destinations in Europe. A key driver behind international capital inflows has been the temporary suspension of the 24% VAT on newly built properties.
However, this policy is not permanent. As Greece enters a more stable growth cycle and international demand continues to rise, this tax incentive is approaching its expiration—making the current period a critical window of opportunity for investors to optimize entry costs.
24% VAT: A decisive factor in investment performance
In Greece, newly built properties are generally subject to 24% value-added tax (VAT)—a relatively high rate compared to other European markets.
Being exempt from this tax means:
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A significantly lower effective purchase price
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Greater potential for capital appreciation
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Improved net yield from the outset
As property prices in Athens and coastal areas have already risen substantially over the past five years, saving 24% in upfront costs is not just a short-term benefit—it is a key determinant of long-term investment performance.
Once the policy ends, future buyers will face higher entry prices, creating a clear advantage gap between early and late investors.
Greece’s market: Continued growth potential
In recent years, Greece has recorded economic growth above the Eurozone average during certain periods. Tourism has rebounded strongly, foreign investment is increasing, and the Golden Visa program continues to attract non-EU investors.
Athens, in particular, is undergoing visible transformation through:
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Urban regeneration projects
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Infrastructure upgrades
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Increasing capital inflows into residential real estate
While property prices have seen double-digit growth in some areas, they remain competitive compared to Western European capitals.
The combination of:
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Competitive entry prices
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Strong rental demand
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Improving infrastructure
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Stable investment policies
creates a solid foundation for the next growth cycle.
Keranis Residences: A strategic asset in Athens
As the VAT exemption window narrows, Keranis Residences stands out as a strategic option for investors seeking value, location, and growth potential.
Located in Piraeus, Greece’s largest port and one of the busiest in Europe, the project benefits directly from:
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Expanding logistics and maritime activity
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Growth in cruise tourism
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Increasing international capital flows
Piraeus is no longer just a traditional port area. Over the past decade, it has undergone a comprehensive transformation, including:
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Direct transport links to central Athens
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Modern metro infrastructure
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New residential and commercial developments
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Rising housing demand from professionals and entrepreneurs
Keranis Residences is designed to modern standards, suitable for both owner-occupation and long-term rental, which is crucial as the market becomes more selective and quality-driven.
Dual advantage: Tax optimization and Golden Visa strategy
Beyond the 24% VAT exemption, Greek real estate is closely linked to the Golden Visa program, one of the most competitive residency-by-investment schemes in Europe.
The combination of:
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VAT exemption
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EU residency access
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Strong appreciation potential in areas like Piraeus
creates a dual-advantage investment structure—optimizing both entry cost and global asset diversification.
Once the tax policy changes, this advantage may no longer be available, making timing a strategic decision rather than a short-term opportunity.
Conclusion: Acting before the advantage disappears
Real estate markets move in cycles, but a 24% tax exemption is a time-sensitive advantage.
As Greece’s economy strengthens and international demand continues to rise, the likelihood of maintaining such incentives indefinitely is uncertain.
Investors who act before policy changes can secure a clear cost advantage while positioning themselves in a market undergoing positive structural transformation.
In this context, Keranis Residences is not just a property project—it represents an opportunity to strategically position assets in Athens, at a moment when the market still offers a rare tax advantage.
