When owning real estate in Athens, property owners are subject to certain taxes. In Greece, taxes are paid for the previous year, meaning that each year's tax payments are for the prior year. Typically, these taxes are paid from March to October for the preceding year.
Owners of properties in Athens are required to pay two types of taxes for their property:
Rental Income Tax in Greece
Greek law stipulates three tax brackets for foreign investors' income in the country:
First Bracket: Annual income up to €12,000 – 15% tax rate
Second Bracket: Annual income between €12,000 and €35,000 – 35% tax rate
Third Bracket: Annual income over €35,000 – 45% tax rate
Therefore, investors purchasing properties and renting them out must consider that they will need to pay tax according to their income level. The calculation is based on the annual profit from all properties owned.
ENFIA (Development Tax) and Annual Municipal Taxation
ENFIA is determined by the state and takes into account factors such as the property's location, year of construction, and size in square meters. The tax rate is 0.02%, set annually by the tax authorities. This generally amounts to a small sum, ranging from €3 to €6 per square meter. For example, apartments measuring 40-90 square meters typically incur an annual tax of €100-200.
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