Exemption from real estate transfer tax
The real estate transfer tax is imposed on every transfer for consideration and the buyer is the taxable person [Articles 1 par1 and 2 par.1 of Law 1587/1950, as amended and currently applicable].
The real estate transfer tax rate applicable is 3% on the taxable value of the property [Article 4 par1 of Law 1587/1950 as amended by article 11 of Law 4223/2013].
Furthermore, pursuant to articles 21 et seq. of Law 3842/2010, real estate transfer tax exemption is provided only on the purchase of a “primary main residence”, as follows:
Beneficiaries of the exemption:
The beneficiaries of the above exemption are the following individuals (married or single or individuals entered into a civil partnership), provided that they reside permanently in Greece or they intend to reside permanently in Greece within two (2) years from the purchase date [Article 23 par. 4 and 5 of Law 3943/2011]:
Please note that if the buyer will reside in Greece within two years starting from the purchase date, she/he shall file a relevant tax return before the competent Tax Office no later than six (6) months after the expiry of the two years deadline and pay the relevant real estate transfer tax.
Scope of the exemption:
Please see the relevant table below:
|Individual||Category of property||Value of property|
|single||house||Up to the amount of €200,000|
|single with a degree of mental or physical disability of over 67%||house||Up to the amount of €250,000|
|married||house||Up to the amount of €250,000|
|married with a degree of mental or physical disability of over 67%||house||Up to the amount of €275,000This amount is increased by € 25,000 for each of his first two (2) children and € 30,000 for the third and each of his subsequent children.|
|CommentsThe above amounts of the exemption also include the value of one parking and one storage space of twenty (20) m2 (either they are independent horizontal properties or they are parts of the transferred property) and only if they are acquired with the same purchase contract.|
|single||land||Up to the amount of €50,000|
|married||land||Up to the amount of €100,000This amount is increased by €10,000 for each of his first two (2) children and € 15,000 for the third and each of his subsequent children|
It also should be noted that since the value of the property exceeds the above tax-free limits, the exemption is granted up to the relevant untaxed amount and for the additional amount, the relevant property transfer tax shall be paid.
Conditions required for the property transfer tax exemption: