What You Need to Know About Property Taxes on Vacation Homes in Greece: A Complete Guide for 2025

Buying a vacation home in Greece is a dream for many, but understanding the property taxes involved is crucial to avoid surprises. Greece’s tax system for vacation properties has specific rules, rates, and obligations that every owner should know. Whether you plan to use the home personally, rent it out, or invest, this guide breaks down what you need to know about property taxes on vacation homes in Greece in 2025.

For detailed legal advice and guidance on buying property, visit Chase Real Estate Corfu’s Buyer Guide.

Overview of Property Taxes on Vacation Homes in Greece

Greek property taxes on vacation homes include several components, mainly:

• ENFIA (Unified Property Tax)

• Transfer Tax (Property Purchase Tax)

• Income Tax on Rental Income (if applicable)

• Other local taxes or fees

Each tax applies at different stages and depends on how you use the property.

What is ENFIA and How Does it Affect Vacation Homes?

ENFIA is Greece’s annual property tax and applies to all real estate, including vacation homes. It consists of:

• Primary ENFIA: Calculated on the property’s objective value, location, size, and characteristics.

• Supplementary ENFIA: Applies if total property value exceeds certain thresholds.

Key Points About ENFIA for Vacation Homes

• Rates vary based on property size, location, and value.

• Vacation homes often face higher rates than primary residences.

• ENFIA is payable yearly by property owners regardless of rental status.

• Failure to pay can result in fines or legal action.

To understand your ENFIA obligations and get help with calculation, consult Chase Real Estate Corfu’s guide.

Transfer Tax: What You Pay When Buying a Vacation Home

When purchasing a vacation home in Greece, you must pay a property transfer tax, usually around 3% of the property’s objective value or sale price, whichever is higher.

• This is a one-time tax paid during property registration.

• Additional fees include notary, legal, and registration costs.

• Non-Greek buyers should budget for these costs in addition to the purchase price.

Learn more about buying and related taxes at Chase Real Estate Corfu.

Income Tax on Rental Income from Vacation Homes

If you rent out your vacation home, Greek tax law requires declaring rental income. Here’s what you should know:

• Rental income is taxed on a progressive scale from 15% to 35%.

• Expenses directly related to rental activities can be deducted.

• Rental income must be declared annually to the Greek tax authorities.

• Short-term rentals via platforms like Airbnb are subject to the same rules.

Proper tax planning is important for maximizing rental profits and staying compliant. For investor guidance, visit Chase Real Estate Corfu’s investment section.

Other Taxes and Fees to Consider

Vacation home owners should also be aware of:

• Municipal Property Tax (TAP): Charged on properties generating rental income.

• Waste Collection Fees: Local charges for property waste management.

• Capital Gains Tax: Applied if you sell the property at a profit.

Common Questions About Property Taxes on Vacation Homes in Greece

Q1: Are there any exemptions or discounts on property taxes?
Certain cases, such as properties below specific value thresholds or owned by families with low income, may qualify for exemptions or discounts. It’s best to consult a local expert.

Q2: Do non-residents pay the same property taxes?
Yes, non-residents are subject to the same tax rules as residents.

Q3: How can I reduce my property tax liability?
Maintaining accurate property records and using all allowable deductions for rental income can help. Professional tax advice is recommended.

How to Stay Compliant and Avoid Penalties

• Register your property correctly with Greek authorities.

• File annual tax returns on time, especially for rental income.

• Pay ENFIA and other taxes by the deadlines.

• Work with a tax advisor familiar with Greek property law.

For legal advice and tax compliance support, see Chase Real Estate Corfu’s guide.

Why Understanding Property Taxes Matters for Your Vacation Home Investment

Property taxes can significantly affect the total cost of owning a vacation home in Greece. Knowing your obligations helps you:

• Budget accurately for all costs.

• Avoid fines and legal complications.

• Optimize rental income profitability.

• Plan for long-term ownership or resale.

Final Tips for Vacation Home Buyers in Greece

• Always factor property taxes into your total purchase and ownership cost.

• Seek local expertise for the most current tax rules.

• Use trusted real estate agencies like Chase Real Estate Corfu for guidance.

• Keep all documents and receipts organized for tax purposes.

Conclusion

Property taxes on vacation homes in Greece can seem complex, but with clear knowledge and professional help, managing your tax responsibilities is straightforward. Stay informed about ENFIA, transfer tax, rental income tax, and other fees to make your Greek vacation home investment a success in 2025.

For personalized advice or inquiries, visit Chase Real Estate Corfu.