I heard about a transaction tax applying to purchasing a property in Greece, and different agents might provide different quotes regarding this tax and add all kinds of unnecessary charges. What is the standard rate for this transaction tax?
The purchase transaction tax is 3/100 in general. For properties with a permit of construction issued after 2006 and sold by a company, there is vat 24/100 and no transaction tax. Above applies to any real estate sale independently if it is connected to the obtaining of a Golden Visa or not. Other than that, when you apply for a Golden Visa you must also pay a government fee of 500 euros.
The main fee is a purchase (or transfer) tax, which is calculated on the biggest value between the "assessed tax value" and the contract value. This tax is 3.09% for construction with a building license issued before January 2006. New construction with a building license issued from January 2006 are subject to VAT at the rate of 24%. New construction with building licenses issued before January 2006 aren’t subject to VAT, regardless of when building work is completed. The imposed tax on them is 3.09% Additionally to the above referred transfer tax, there are other fees related to the purchase such as: land registry fees; notary’s fees; lawyer’s fees; community or municipal tax; real estate agent’s fees.
Τhe transaction tax is 3.09% of the purchase price and is paid by the buyer.
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