Greece 2025 Tax Measures: Supporting Property and Economic Growth
In September 2024, Greek Finance Minister Mr Kostis Hatzidakis announced a series of tax reforms and the continuation of certain exemptions into 2025. The bundle includes new measures aimed at enhancing economic stability, encouraging investment, and providing relief to taxpayers.
Two extensions that concern Golden Visa investors:
The suspension of the 15% capital gains tax on property sales until December 31, 2026
The suspension allows individuals and businesses to sell real estate without incurring this tax during the period. This extension reduces costs for sellers and aims to encourage activity and investment in the real estate market.
Extension of the 24% VAT exemption for new building construction into 2025
Purchasing real estate in Greece requires buyers to pay a transfer tax. For properties with a construction permit issued before January 1, 2006, the transfer tax is 3.09% of the property value. For properties with a permit issued after this date, the transfer tax is 24% VAT. Currently, the 24% VAT on new constructions is suspended until December 31, 2025.
Even with the upcoming introduction of a 15% capital gains tax, Greece remains an attractive option with a comparatively lower tax rate than other EU countries of similar geographical appeal. In other parts of the EU, capital gains tax rates can range between 25% and 28%, involve flat rates around 19%, or combine flat rates with additional social charges. Some jurisdictions also offer tax structures that may follow a progressive model or impose a flat rate, such as 26%, depending on specific conditions.
Please contact our team for any inquiries about the Greek Golden Visa and how you can start your process.
