Property maintenance in Greece costs

The maintenance of a flat in Athens costs €700 to €1,800 annually on average, while maintenance costs for a villa on an island range from €1,500 to €15,000. The bulk goes to taxes and utilities.

Athens apartments for sale 882 listings on Tranio

From 81,000 €

New buy-to-let apartments and studios with yield up to 6,5%, in a quiet and clean area in central Athens

Completion in: 2024.IV Total of 11 apartments

From 121,000 €

New apartments for obtaining a residence permit and rental income, central area of Athens — Kato Patisia, Greece

Built in 2024 Total of 6 apartments

From 143,000 €

New apartments for obtaining a residence permit and rental income in Athens, Attica, Greece

Built in 2023 Total of 17 apartments

From 170,000 €

New residence near the Riviera and the center of Piraeus, Greece

Built in 2024 Total of 10 apartments

From 98,000 €

Package of three micro studios for a Golden Visa and a guaranteed 5% return in Egaleo, Greece

Yield 5.0% Built in 2024

From 470,000 €

Modern residence with a parking in Athenian Riviera, Glyfada, Greece

Total of 30 apartments

From 290,000 €

New sea view residence with an underground parking close to the port, Piraeus, Greece

Completion in: 2025.II Total of 66 apartments

From 135,000 €

Package of two studios for obtaining a Golden Visa and a guaranteed return of 5% from the moment of payment, Piraeus, Greece

Yield 5.0% Total of 20 apartments

Property taxes in Greece

All property owners in Greece, including foreigners, are subject to an annual property tax, which has two components.

• Base tax: from €2/m² to €13/m². The exact amount depends on a number of factors including floor area, the property cost as determined in a particular municipality, a building date etc. Authorities will assess each property individually to determine the tax rate.
• Additional levy: applicable to owners of properties worth at least €250,000 in cadastral value. The rate ranges from 0.15% to 1.15%, depending on the property price. For legal entities, the additional levy is fixed at 0.55% if the property is rented out. Otherwise, the levy is 0.1% if the property is owned and used by the same legal entity.

There is also an annual municipal tax that ranges from 0.025% to 0.035%, depending on the location of the property.

Companies pay a special property tax at a rate of 15% of the property value. However, in some cases it is not levied, for example, if the business is active and discloses data on all its beneficiaries.

When renting out real estate, individuals pay a progressive income tax of 15% to 45%. Property maintenance costs, including depreciation (of furniture and real estate) and repair costs, are exempt from taxation. If an income generated by a property exceeds €12,000, a higher tax rate will be imposed on the part which is above this threshold. For example, if a property generates €20,000, €12,000 will be taxed at 15% while the remaining €8,000 will be subject to 35% tax.

Companies are taxed on their rental incomes at the corporate tax rate of 24%.

Greece utility bills

Electricity. Electricity bills are paid every two months and the electricity meter reading is taken every four months. 1 kWh costs about €0.1. On average, for an 60 m² apartment the monthly electricity fee is €25 to €30 in summer and can reach up to €70 to €100 in winter.

Water. In different regions, water consumption is invoiced at differently – annually, quarterly or monthly. On average, a family of three people pays €60 to €250 for water per year. Water tariffs are higher on the islands than mainland Greece.

Gas. Gas is only supplied in Athens and Thessaloniki. The average gas bill is €140 to €400 per year.

Telephone and Internet. Between €180 and €600 per year depending on the contract.

Maintenance of private and common areas. Owners of villas pay €800 to €4,500 per year for the maintenance of a garden and swimming pool. Apartment owners share the expenses of maintaining common areas: lighting, cleaning, maintenance of lifts, vegetation and trees, security and minor repairs, which totals €200 to €400 per year.

Utility bills, €/year

When renting out a house for short terms, owners pay management fees of 20% to 25% of the rental income per month. Utilities are billed separately.

Manager for Tranio projects in Greece

Property insurance in Greece

Home insurance is optional in Greece. As Greece has a low crime rate, many owners choose not to insure their properties.

Home insurance premiums vary according to the type of property, its cost, floor area, number of floors, age of the property and insurance coverage. For example, full insurance for a studio will cost €100 per year (higher if the insurance covers furniture and home appliances) while insurance for a villa starts from €350 per year.