In recent years, the Greece Golden Visa program has become one of the most attractive investment pathways in Europe. With a minimum investment starting from €250,000, investors can not only acquire real estate in a recovering market but also gain residency rights and visa-free access within the Schengen Area.
However, beyond the property value and growth potential, understanding the tax structure associated with real estate investment is essential. Taxes directly impact the total investment cost, long-term returns, and overall financial efficiency.
Notably, the current policy of 24% VAT exemption on new properties until the end of 2026 has created a significant advantage for investors, reducing upfront costs and enhancing overall returns.
Key taxes when investing in Greek real estate
Property transfer tax
- Approximately 3% of the property value
- Applicable to resale properties
For example, with a €250,000 property, the transfer tax would be around €7,500. This rate is relatively low compared to many European countries, where transfer taxes can range from 5% to 10% or higher.
This makes Greece a cost-efficient entry point for investors looking to access the European real estate market.
VAT (24%): The most critical factor
- Standard VAT: 24% (applied to new properties)
- Currently: Fully exempt until 31 December 2026
For a €250,000 new property:
- Normal VAT: €60,000
- Current VAT: €0 (fully exempt)
This exemption significantly lowers the total acquisition cost and allows investors to access higher-quality, newly built developments without the additional tax burden.
Annual property tax (ENFIA)
- Typically ranges from 0.1% to 1% of property value
For a €250,000 property, the annual tax may range from approximately €250 to €2,500.
Although this is an ongoing cost, it is generally considered manageable and often offset by rental income.
Rental income tax
- Progressive tax rates:
- 15% (up to €12,000)
- 35% (€12,000 – €35,000)
- 45% (above €35,000)
For example, if annual rental income is €12,000, the tax payable would be approximately €1,800.
Despite taxation, strong rental demand in cities like Athens and Piraeus ensures stable income streams for investors.
Why the 24% VAT exemption is a “golden opportunity”
To better understand the impact of this policy, consider a €250,000 investment scenario.
Under normal circumstances, purchasing a new property would require paying an additional 24% VAT, equivalent to €60,000. Including other costs such as legal fees and transaction expenses (approximately €10,000–€15,000), the total investment could reach around €320,000–€325,000.
However, with the VAT exemption in place until the end of 2026, investors only need to cover the property price and standard transaction costs, bringing the total investment down to approximately €260,000–€265,000.
This represents a direct saving of about €60,000 (24%), which significantly improves financial efficiency.
More importantly, the benefit extends beyond cost savings. A lower acquisition price enhances profit margins, improves rental yield potential, and increases overall return on investment.
In a market that is steadily attracting international capital, this policy creates a time-sensitive investment window, offering both financial and strategic advantages.
Keranis Residences: A featured Golden Visa investment opportunity
Keranis Residences is a premium residential development by Mercan Group, located in Piraeus, the largest port in Greece and one of the fastest-growing real estate areas in the Athens metropolitan region.
The project is a redevelopment of a historic industrial complex, combining modern design with functional living spaces. It offers 408 units ranging from studios to 2-bedroom apartments, catering to both end-users and investors.
With its strategic location near Piraeus Port and strong connectivity to central Athens, the project benefits from steady rental demand and long-term capital appreciation potential.
Starting from €250,000, Keranis Residences qualifies for the Greece Golden Visa program, making it an attractive option for investors seeking both residency and financial returns.
When combined with the current 24% VAT exemption, the project becomes even more compelling, offering lower entry costs and improved investment efficiency.
Conclusion
The Greece Golden Visa is not only a residency program but also a strategic real estate investment opportunity in one of Europe’s recovering markets.
Understanding the tax structure, especially the temporary VAT exemption until 2026, is key to maximizing returns and optimizing financial outcomes.
By selecting well-positioned developments such as Keranis Residences, investors can achieve a balance between European residency, stable rental income, and long-term capital growth.
