Greece has a 15% capital gains tax on property that individuals currently do not pay, because it is suspended until the end of 2026. What that means for a foreign owner planning an exit.
Greece is unusual among Mediterranean markets: it has a capital gains tax on real estate in the law, and individuals still do not pay it. That is a real advantage for an exit, but it rests on a temporary suspension that has to be renewed, so it is worth understanding exactly what it covers.
What the law says
The tax on gains from the sale of real estate is set at 15%, calculated on the sale price minus the acquisition cost and related expenses. It is suspended for individuals until 31 December 2026; one legal source cites article 90 of Law 5162/2024 for the latest extension. The suspension has been renewed again and again for roughly a decade, and it applies to individual sellers regardless of nationality or residency.
Why it keeps being suspended
The practical problem was never the rate, it was the base. For a property bought decades ago, inherited, or acquired without clear documents, there was no consistent way to define the acquisition price, and notaries, who were responsible for applying the tax at the deed, stopped being able to do so. Suspension has been the workaround.
What is not covered by the suspension
- Companies and other legal entities: profit on a property sale is taxed as business income, reported at 22% corporate tax on the difference between the sale price and the book value. If you hold Greek property through a company, the suspension does not help you.
- Activity that looks like trading: some local sources report that repeated buy-and-sell transactions within a short period, or property bought or built for immediate resale, can still be taxed as business income. The exact thresholds are not something to rely on from a blog post, so ask a Greek tax adviser if your plans look like this.
What happens after 2026
Nobody can say with certainty. Extension is decided in the annual budget cycle and has been granted every year so far, but the suspension is not permanent. If it lapses, the 15% rate would apply again and the unresolved question of how to calculate the acquisition price would come back with it. If your exit is planned for 2027 or later, treat the Greek tax as a risk to model, not as zero.
Do not forget your home country
Zero Greek tax does not mean zero tax. Many countries tax their residents or citizens on worldwide gains, so a sale in Greece can still be taxable at home, and the treatment depends on the double tax treaty and your own tax residence. Check this before you sign, not after.
Sale-day checklist
- Confirm in writing with a Greek lawyer or accountant whether the suspension applies to your sale date and to the way you hold the property (personally or via a company)
- Collect the purchase contract, proof of payment and receipts for renovation and legal costs, because documented cost matters if the rules change
- Check whether your home country will tax the gain, and whether the treaty gives you a credit
- Make sure property tax, ENFIA and municipal fees are settled so the deed can be signed
- Keep the notarial deed and any declaration filed with the Greek tax authority
FAQ
Do I pay capital gains tax if I sell a Greek property in 2026 as an individual? Under the current suspension, no, individuals are not taxed on property sale gains until 31 December 2026, though you should confirm the status at the time of your deed. Does the suspension apply to foreigners? Yes, it is reported to apply to individual sellers regardless of residency. What if I own through a company? Then the gain is taxed as corporate income, reported at 22%. What happens in 2027? It depends on the 2027 budget decisions, so plan for the possibility that the 15% rate applies. Can my home country tax me anyway? Yes, depending on your tax residence and the treaty.
How we help
We help owners plan the timing and structure of a sale, and we connect you with Greek tax advisers who can confirm the current rule for your case. This is general information, not tax or legal advice; the suspension is temporary and rules change, so verify the status before you rely on it.