- Taxes: All property owners in Greece, whether foreign or not, are required to pay an annual property tax. This tax consists of:
- The basic tax, which ranges from €2 / sq.m. to €13 / sq.m. The amount of the tax depends on factors such as the square footage, age of the building, floor level, and zone price.
- The special contribution, imposed on property owners with real estate valued over €200,000, based on the objective value. The contribution ranges from 0.10% to 1.15%, depending on the property value. For legal entities, the special contribution is fixed at 0.55% if the property is rented, and 0.1% for own use.
- Annual municipal taxes, ranging from 0.025% to 0.035% based on the property’s location.
- Businesses are subject to a special additional tax of 15% on the value of their real estate.
- Income Tax: Property owners who rent their properties are taxed on their rental income based on a progressive tax rate, ranging from 15% to 45%. Expenses for maintenance and repair of real estate are deductible from taxation. If the income exceeds €12,000 per year, a higher tax rate is imposed on the excess amount.
- Up to €12,000: 15% tax rate
- €12,001 – €35,000: 35% tax rate
- Over €35,000: 45% tax rate
- Businesses are taxed at a 29% corporate tax rate on the income generated from renting their real estate.
- House Bills:
- Electricity: Electricity bills are issued every two months with estimated consumption. On average, the monthly electricity bill ranges from €25 to €30 in summer and €70 to €100 in winter.
- Water: Water consumption is charged differently across the country. On average, a family of three can expect to pay €60 to €250 per year. Water prices tend to be higher in the islands compared to the rest of the country.
- Gas: The average annual gas bill ranges from €140 to €400.
- Fixed Telephony and Internet: Depending on the contract, the average cost for fixed telephony and internet ranges from €180 to €600 per year.
- Maintenance of Privately Owned and Public Areas:
- Vacation Homes: Owners of vacation homes typically pay an average of €800 to €4,500 per year for garden and pool maintenance.
- Apartment Owners: Apartment owners share the cost of maintaining common areas, including lighting, cleaning, elevator maintenance, garden upkeep, and repairs. On average, these maintenance expenses range from €200 to €400 per year.
Please note that these figures are average estimates and may vary depending on factors such as property size, location, and individual usage. It is advisable to consult with a local expert or property management company for accurate and up-to-date information regarding property maintenance costs in Greece.