One key change was the exemption from VAT for properties built after 2006, valid until December 31, 2023. Prior to this amendment, the purchase of such properties incurred a hefty 24% VAT.
Tranio experts suggest a potential extension of the VAT moratorium on real estate for another year, providing continued benefits for buyers. However, this extension is yet to be officially confirmed by Greek authorities. In the absence of an extension, buyers would be subject to the standard 24% VAT rate for new buildings.
During the moratorium period, buyers are only required to pay 3.09% of the property's value as stated in the notary agreement. This comprises a 3% tax on the transfer of ownership and a 0.09% council tax. Additional expenses may include registration fees, legal services, notary fees, and the services of a Greek realtor.
For a seamless property acquisition experience in Greece, consider leveraging the expertise of Veles Club. Our team is well-versed in the intricacies of the Greek real estate market and can guide you through the entire process. From understanding the changing tax landscape to navigating legal procedures, Veles Club ensures that your property purchase is not only financially advantageous but also stress-free. Let us be your partner in realizing your dream investment in the beautiful landscapes of Greece.
