From 2013 onwards, every owner of real estate in Greece is subject to an annual tax for his property. This tax is called “Uniform Real Estate Property Tax”, or “ENFIA”. The principal tax is calculated based on the location, area, age, floor, number of façades of the building and its use (residential or commercial).
ENFIA is usually paid in a number of installments per year (five or more), during the second half of each calendar year. This tax is imposed on both entities and individuals, regardless of whether they are permanent residents of Greece or not, or if they maintain their tax base in the country.
A supplementary ownership tax is also imposed on owners, whose property assets are valued at above 250,000 euros. This supplementary tax has a rate which start from 0.15% and rises up to 1.15% for real estate assets worth more than 1 million euros.
Greek Property Tax Calculation Method
ENFIA is initially calculated by multiplying the property’s square meters with its location’s base property tax rate which ranges from €2.5 t €16.25 per square meter. Additional coefficients are then applied depending on the property’s location, floor or number of floors, its type of use etc.
There are 20 different property tax zone rates (from 33 originally), starting from 2.5 euros/sq.m. for properties located in a zone whose objective value isn’t higher than 500 euros/sq/m. This rate can rise up to 16.25 euros/sq/m. for newly built residences with a zone value above 5,000 euros/sq.m. For an estimate of your property’s zone value you may consult this interactive map (in greek). The basic calculation board for older properties (over 25 years old) is the following:
| Zone Value (€/sq.m.) | Principal Tax (€/sq.m.) |
|---|---|
| 0 – 550 | 2,00 |
| 501 – 750 | 2,80 |
| 751 – 1.050 | 2,90 |
| 1.001 – 1.500 | 3,70 |
| 1.501 – 2.000 | 4,50 |
| 2.001 – 2.500 | 6,00 |
| 2.501 – 3.000 | 7,60 |
| 3.001 – 3.500 | 9,20 |
| 3.501 – 4.000 | 9,50 |
| 4.001 – 4.500 | 11,10 |
| 4.501 – 5.000 | 11,30 |
| 5.001+ | 13,00 |
Once the base property tax is calculated, to determine the final tax amount there is an age and floor coefficient to be applied. There are also coefficients potentially reducing the tax rate for example for any auxiliary use spaces. According to the legal framework on the tax, the size of the property subject to tax can be reduced, if it’s a special use building.
The age coefficient can be calculated using the following rates:
Tax Coefficient for the Age of a Property
| Age of the Property | Tax Coefficient |
|---|---|
| 26 years or older | 1 |
| 20 – 25 years old | 1.05 |
| 15 – 19 years old | 1.10 |
| 10 – 14 years old | 1.15 |
| 5 – 9 years old | 1.20 |
| Up to 4 years old | 1.25 |
Tax Coefficient for the Floor of a Property
| Floor Location | Tax Coefficient |
|---|---|
| Underground / Basement | 0.98 |
| Ground Level / 1st Floor | 1 |
| 2nd or 3rd Floor and Detached Houses |
1.02 |
| 4th or 5th Floor | 1.04 |
| 6th Floor and Above | 1.06 |
In case the individual property has more than one floor (i.e. a two level apartment), the relative coefficient is calculated based on the highest floor. For detached houses, the floor coefficient stands at 1.02 and for auxiliary spaces at 0.1.
