Reduced Property Tax in Greece – Changes have been made which have lowered Property Tax in Greece, as part of a series of new laws announced by the Greek government. They include substantially reducing the purchase tax paid by buyers of homes and land in Greece to the government. Previously, property buyers were subjected to a Government purchase tax of between 8% and 10% of the purchase price of a house or a piece of land.
From January 1 2014 ,these taxes have been reduced to only 3% of the purchase price and that has been changed to encourage investment into the Greek property market.
This is very good news for property buyers with possible huge money savings being made as a result.
In 2013, the Greek housing market saw an upturn in foreign clients wishing to invest in the country and the introduction of this lower property tax in Greece is expected to further attract overseas investment.
With houses prices over the last few years dropping in price, it seems now is an excellent time to either make an investment and build or buy a home in Greece.