Costs of maintaining real estate in Greece

All property owners in Greece pay an annual property tax. Its rate depends on many factors – area, location of the object, age of the building, etc.

Approximately, the amount of annual property tax in Greece is calculated as follows: up to 13 euros\m2 for buildings and up to 9 euros\1,000 m2 for land plots.

For ownership of an object worth more than 300,000 euros, an additional progressive tax is paid – from 0.1% to 1% of the value of the property (the second indicator is typical for objects priced over 1,000,000 euros).

In addition to the cost of paying taxes, the cost of maintaining real estate in Greece includes payment for utilities. It is important to know that late payment of both taxes and utilities can lead to difficulties in obtaining a visa and residence permit.

Electricity and water are paid according to meters, and for electricity the rule “the more, the cheaper” is typical, and for water it is the opposite. The electricity tariff starts from 0.09 euros\kWh/hour. The cost of 1 cubic meter of water is from 0.45 to 4 euros.

Council tax and surcharges are added to the electricity bill, and a sewerage bill is added to the water bill, which reaches 75% of the amount of water used.

Owners of properties located in residential complexes also pay condominium fees for its maintenance. Their size ranges from 200 to several thousand euros per year, depending on the infrastructure maintained (gardens, swimming pools).

The average monthly costs for maintaining real estate in Greece are:

  • small apartment – ​​from 100 euros;
  • houses or villas – from 200 euros.

It is also worth considering that all property owners are required to file a tax return annually (even a zero one). The service for filling it out costs about 50 euros.

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