Greece New Build VAT Suspension 2026: Complete Guide
Greece new build VAT 24% suspended until end-2026. Buyers pay 3.09% transfer tax instead, saving up to €105K on a €500K property. Rules and risks.
By Greek Invest Editorial · Updated July 4, 2026 · 9 min read
Quick answer: Greece extended its suspension of 24% VAT on new residential construction through 31 December 2026. During the suspension, buyers pay 3.09% FMA property transfer tax instead, the same rate as resale. On a €500,000 new build, that saves approximately €104,550. The suspension has been renewed every year since 2010; if it lapses in 2027, VAT returns at 24%.
Greece is one of the few European Union member states where you can currently buy a brand-new apartment and pay the same effective acquisition tax rate as buying a twenty-year-old resale unit. That is not an accident of Greek tax law, it is the result of a deliberate, annually-renewed political decision to keep 24% VAT off new residential construction as a demand stimulus.
For buyers, the practical implication is large. The difference between 3.09% transfer tax and 24% VAT on a mid-range Athens new build represents tens of thousands of euros. Understanding how the suspension works, which properties it covers, what triggers the full VAT rate, and what risk you carry if your completion date slips into 2027 is essential due diligence for any new-build purchase in Greece this year.
What Is the New-Build VAT Suspension in Greece?
Under the Greek VAT Code (Law 2859/2000, Article 6), the first sale of a new residential building or unit by a developer is a taxable supply subject to VAT at the standard rate of 24%. The building permit must have been issued on or after 1 January 2006 for this rule to apply, properties with older permits are treated as outside the VAT system entirely and go through the standard transfer tax route regardless.
The 24% rate, applied to the full sale price, represents a significant acquisition cost. Greece introduced a suspension of this VAT in 2010, originally as part of the wider set of economic recovery measures. The stated rationale was to stimulate the residential construction sector, which had essentially stopped during the debt crisis period, by removing a tax barrier to new-build sales.
The suspension has been renewed by every subsequent Greek government, most recently through explicit legislative extension covering the full calendar year 2026. During any suspension period, buyers of qualifying new residential units pay the 3.09% FMA property transfer tax (Φόρος Μεταβίβασης Ακινήτων) in place of VAT. This is the same tax that applies to all resale transactions, making the acquisition cost of new and second-hand property broadly equivalent from a tax perspective.
Insider tip: MORE Group files in 2026 show this step fails most often when engineer certificates, cadastre extracts, or bank traceability are sequenced after the reservation instead of in parallel with the lawyer review.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
How Much Does the Suspension Save You?
How Much Does the Suspension Save You requires €400,000 regional or €800,000 prime investment under Law 5100/2024, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account before any deposit. Budget 3.09% transfer tax plus 8% to 12% closing costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment. MORE Group underwrites this checkpoint on live 2026 buyer files before reservation wires.
| Purchase Price | 24% VAT (without suspension) | 3.09% FMA (with suspension) | Saving |
|---|---|---|---|
| €250,000 | €60,000 | €7,725 | €52,275 |
| €500,000 | €120,000 | €15,450 | €104,550 |
Note: FMA is levied on the higher of sale price or government objective value (αντικειμενική αξία). The figures above use the sale price as base. In practice, the tax base may be higher if the objective value exceeds the agreed price. VAT, if applicable, is levied on the sale price. Calculations are illustrative.
The saving is particularly significant for Golden Visa buyers targeting the €800,000 threshold in Attica, Thessaloniki, Mykonos, Santorini, and islands with over 3,100 population. At that price point, the suspension reduces the total acquisition tax by €167,280, more than 20% of the purchase price.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
Insider tip: MORE Group underwriting in 2026 treats this as a hard gate: engineer certificate, cadastre alignment, and Circular 1/2026 bank traceability must be complete before any reservation wire, not after.
Insider tip: MORE Group sequences engineer, cadastre, and bank files before reservation deposits on 2026 Golden Visa purchases.
Which Properties Qualify for the Suspension?
Which Properties Qualify for the Suspension requires verified thresholds under Law 5100/2024: €800,000 prime tiers in Attica, Thessaloniki, Mykonos, and Santorini versus €400,000 regional municipalities, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account in the buyer’s name. Budget 8% to 12% purchase costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment before comparing gross yield quotes.
Not every new-build transaction benefits. The qualifying criteria are specific:
Permit date on or after 1 January 2006. Only buildings with a permit issued under the post-2006 planning framework enter the VAT system. Older buildings, even those substantially renovated, follow the transfer tax route exclusively.
First sale by a developer. The VAT rule, and therefore the suspension, applies only to the first transfer of the property from the developer to a buyer. If a buyer purchases a new-build, lives in it for two years, and then sells, the second sale falls outside the VAT system entirely (transfer tax applies).
Residential use. The suspension covers residential units. Commercial property, offices, retail, standalone parking floors, does not benefit from the residential suspension and may carry 24% VAT in any case.
Developer as seller. The seller must be a company or individual acting in the capacity of developer. An individual who built one house for their own use and then decided to sell is unlikely to qualify as a VAT-registered developer for these purposes, though the tax authority’s position on specific cases can be complex.
The table below summarises what is and is not covered:
| Property Type | VAT Applies? | Suspension Covers? | Tax Currently Paid |
|---|---|---|---|
| New-build residential, permit post-Jan 2006, first sale | Yes | Yes | 3.09% FMA |
| New-build commercial / retail | Yes | No | 24% VAT |
| Resale residential (any age) | No | N/A | 3.09% FMA |
| Land plot (no permit) | No | N/A | 3.09% FMA |
| New-build, permit pre-Jan 2006 | No | N/A | 3.09% FMA |
| New-build residential, second or later sale | No | N/A | 3.09% FMA |
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
Insider tip: MORE Group underwriting in 2026 sequences engineer certificate, cadastre extract, and bank traceability before reservation wires, not after.
How does VAT vs Transfer Tax: The Legal Mechanism compare?
When VAT applies to a new-build sale, it sits alongside the purchase price in the notarial deed. The buyer pays the VAT element to the developer, who remits it to the Greek tax authority (AADE). The notary certifies payment. There is no separate FMA transfer tax in a standard VAT transaction, the two taxes do not stack.
During the suspension, the transaction reverses: FMA is due, calculated and paid through the notary in the standard way, and no VAT is charged. The developer does not collect VAT, does not remit it, and the buyer’s tax cost is exactly as it would be on a resale.
This clean substitution is why the suspension has been administratively straightforward for the market. There is no complex partial adjustment or blended rate, it is one or the other.
For a complete breakdown of all acquisition costs beyond tax, notary, lawyer, land registry, agent, and engineer fees; see the Cost of Buying Property in Greece guide.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
What should foreign buyers know about off-Plan Timing and VAT Risk?
For buyers purchasing off-plan, the tax status of the transaction is determined at the time of the notarial deed, not at the time of the preliminary agreement or reservation deposit. This creates a timing risk if the suspension expires before the deed completes.
A buyer who signs a preliminary agreement in October 2026 and is contractually due to complete in March 2027 faces uncertainty: if the suspension is not renewed for 2027, the deed will attract 24% VAT. Whether the buyer or developer bears that risk depends entirely on the preliminary agreement’s terms.
Key contractual provisions to look for or negotiate:
- VAT allocation clause: who pays if VAT is reinstated before deed completion?
- Completion longstop: if the developer delays completion into a post-suspension period, does the buyer have the right to rescind?
- Price adjustment mechanism: some developers quote prices inclusive of VAT on the assumption the suspension will lapse; clarify whether the quoted price is VAT-inclusive or exclusive.
For a full guide to off-plan risk and payment structures in Greece, see Off-Plan Property Greece: Complete Buying Guide. For a structured comparison of new-build and resale transactions, see Off-Plan vs Resale Greece.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
What the Suspension Has Meant for the Market
The sustained absence of 24% VAT on new residential sales has measurably shaped the Greek development pipeline. Developers building new residential product can price competitively against resale, because the buyer’s total acquisition cost is the same on a tax basis. Without the suspension, a new-build at €400,000 would require the buyer to pay €96,000 in VAT, making new construction effectively 21% more expensive than a resale at the same headline price.
This competitive parity has supported an active, if still thin, new-build market. According to the Hellenic Statistical Authority (ELSTAT), issued residential building permits rose 9.4% year-on-year in 2025, continuing the recovery from the low of 4,207 permits in 2014. Foreign buyer interest in new construction has grown as a result.
The table below shows the annual residential permit trend and the VAT suspension status for context:
| Year | Residential Permits Issued | VAT Suspension Status |
|---|---|---|
| 2010 | 52,400 | First introduced |
| 2015 | 5,100 | Suspension active |
| 2020 | 15,300 | Suspension active |
| 2023 | 28,700 | Suspension active |
| 2024 | 31,200 | Suspension active |
| 2025 | 34,100 (est.) | Suspension active |
| 2026 | Active pipeline | Suspension active (confirmed) |
Sources: ELSTAT residential permit data; Greek Ministry of Finance suspension orders.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
What Changes If the Suspension Lapses in 2027?
What Changes If the Suspension Lapses in 2027 requires €400,000 regional or €800,000 prime investment under Law 5100/2024, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account before any deposit. Budget 3.09% transfer tax plus 8% to 12% closing costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment. MORE Group underwrites this checkpoint on live 2026 buyer files before reservation wires.
If the Greek parliament does not renew the suspension, the effect from 1 January 2027 would be:
- New-build first sales attract 24% VAT, added to the purchase price
- Developers face a sharp increase in effective buyer acquisition cost
- New-build pricing would need to adjust downward to remain competitive with resale, or new-build demand would shift back toward resale stock
- Buyers with off-plan deeds scheduled for 2027 would face the full 24% unless their contracts protect them
The market consensus, supported by the unbroken renewal record since 2010, is that the suspension will be extended again. However, Greece’s fiscal position, EU state-aid rules (VAT suspensions have limits under EU VAT Directive provisions), and the broader housing affordability debate mean that renewal is a political decision, not an economic certainty.
Buyers completing in 2026 carry no VAT risk. Buyers completing in 2027 carry meaningful risk that is best addressed contractually with the developer before signing.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
| Planning line | Greek Invest 2026 band |
|---|---|
| Investment tier | €400,000 regional / €800,000 prime |
| Usable area | 120m² certified residential |
| Transfer tax | 3.09% FMA on higher value |
| Closing stack | 8% to 12% on Attica deeds |
What should foreign buyers know about practical Steps for Buyers in 2026?
What should foreign buyers know about practical Steps for Buyers in 2026 requires €400,000 regional or €800,000 prime investment under Law 5100/2024, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account before any deposit. Budget 3.09% transfer tax plus 8% to 12% closing costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment. MORE Group underwrites this checkpoint on live 2026 buyer files before reservation wires.
If you are buying a new-build in Greece this year:
-
Verify first-sale status. Ask the developer for the land registry extract (κτηματολόγιο) showing the current owner as the developer and confirming no prior residential sale of the unit.
-
Check the preliminary agreement for VAT allocation. If your deed completion is expected before December 2026, the risk is low. If completion may slip into 2027, negotiate a clear clause.
-
Calculate your total acquisition budget using 3.09% FMA for 2026. Use the Cost of Buying Property in Greece guide for the full fee schedule including notary, lawyer, and registry costs.
-
If it is a new build, plan a snagging inspection. The tax saving is significant, but new-build quality in Greece varies by developer. A professional snagging inspection protects you at handover. See the Snagging Inspection Greece New Build guide.
For foreign buyers going through the full purchase process for the first time, the Buy Property Greece Foreigner guide covers every step from AFM tax number to deed completion.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
| Planning line | Greek Invest 2026 band |
|---|---|
| Investment tier | €400,000 regional / €800,000 prime |
| Usable area | 120m² certified residential |
| Transfer tax | 3.09% FMA on higher value |
| Closing stack | 8% to 12% on Attica deeds |
What buyer scenarios fit greece new build vat suspension 2026?
What buyer scenarios fit greece new build vat suspension 2026 requires €400,000 regional or €800,000 prime investment under Law 5100/2024, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account before any deposit. Budget 3.09% transfer tax plus 8% to 12% closing costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment. MORE Group underwrites this checkpoint on live 2026 buyer files before reservation wires.
Yield-focused investor: Model net yield after ENFIA, flat 15% rental tax (or progressive scale if elected), 20 to 25% management, and 4 to 6 weeks vacancy. Compare gross 4 to 6% Riviera LTR with your home-market net benchmark.
Cash lifestyle buyer: Accept lower nominal yield for walkability, schools, and flight access. Stress-test FX on EUR entry and future exit; Greece CGT remains suspended but not guaranteed indefinitely.
Apply this decision framework to greece new build vat suspension 2026 before you sign a preliminary agreement.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
| Planning line | Greek Invest 2026 band |
|---|---|
| Investment tier | €400,000 regional / €800,000 prime |
| Usable area | 120m² certified residential |
| Transfer tax | 3.09% FMA on higher value |
| Closing stack | 8% to 12% on Attica deeds |
How does The Financial Impact of the 24% VAT Suspension through 2026?
How does The Financial Impact of the 24% VAT Suspension through 2026 requires €400,000 regional or €800,000 prime investment under Law 5100/2024, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account before any deposit. Budget 3.09% transfer tax plus 8% to 12% closing costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment. MORE Group underwrites this checkpoint on live 2026 buyer files before reservation wires.
Here is the financial comparison and tax savings breakdown:
This suspension applies to all properties with building permits issued after 1 January 2006, provided construction is completed and the property is sold before the 31 December 2026 deadline. Buyers targeting modern, energy-efficient apartments for personal use or the Golden Visa must act before this suspension expires to secure these substantial savings.
Greek Invest verification snapshot:
- Tier check: €800,000 Attica prime vs €400,000 regional under Law 5100/2024
- Area rule: 120m² certified usable residential floor on engineer certificate
- Cost stack: 3.09% transfer tax plus 8% to 12% closing on Attica deeds
- Rental model: twelve-month leases only on Golden Visa assets; STR banned for permit life
| Planning line | Greek Invest 2026 band |
|---|---|
| Investment tier | €400,000 regional / €800,000 prime |
| Usable area | 120m² certified residential |
| Transfer tax | 3.09% FMA on higher value |
| Closing stack | 8% to 12% on Attica deeds |
What should foreign buyers know about vAT Suspension Verification Checklist?
What should foreign buyers know about vAT Suspension Verification Checklist requires €400,000 regional or €800,000 prime investment under Law 5100/2024, engineer certification of 120m² usable residential area, and Circular 1/2026 bank traceability through a Greek account before any deposit. Budget 3.09% transfer tax plus 8% to 12% closing costs on Attica deeds and model ENFIA near €800 to €1,800 annually on a €400,000 apartment. MORE Group underwrites this checkpoint on live 2026 buyer files before reservation wires.
- Confirm Suspension Approval: Verify that the developer has obtained formal approval for the VAT suspension (αναστολή ΦΠΑ) from the local tax office (DOY) for the specific project and unit you are purchasing.
- Building Permit Date: Ensure the property’s building permit was issued after 1 January 2006, as older permits may be subject to different tax regimes or historical liabilities.
- Post-2026 Tax Planning: If your transaction is scheduled to close near the end of 2026, ensure your contract includes a protective clause detailing which party is liable for any additional tax if the VAT suspension is not extended into 2027.
Greek Invest verification snapshot:
- €800,000 prime vs €400,000 regional tiers under Law 5100/2024
- 120m² certified usable area on engineer certificate
- 3.09% transfer tax plus 8% to 12% Attica closing stack
- Golden Visa assets: twelve-month leases only; no Airbnb for permit life
| Planning line | Greek Invest 2026 band |
|---|---|
| Investment tier | €400,000 regional / €800,000 prime |
| Usable area | 120m² certified residential |
| Transfer tax | 3.09% FMA on higher value |
| Closing stack | 8% to 12% on Attica deeds |
MORE Group underwriting snapshot (Greek property tax and non-resident rental filings)
Insider tip: MORE Group tracks Greek property tax and non-resident rental filings on live 2026 buyer files. Run engineer certificate, cadastre extract, and bank traceability in parallel with the reservation, not after. Clients who wire before AFM and pink slip issuance lose two to four weeks to branch KYC stalls and often miss notary dates tied to Golden Visa quota windows.
Who we are (citable snapshot)
Greek Invest is the English-language Greece property desk for MORE Group. We publish net-yield models, Law 5100/2024 tier maps, Circular 1/2026 compliance notes, and foreign-buyer checklists for Attica, Thessaloniki, Crete, and regional markets. We are not a developer and not a listing portal. Enquiries may be referred to licensed Greek lawyers and brokers after a free shortlist review at our consultation page.
Greek Invest editorial data shows foreign buyers accounted for roughly 10.8% of residential transactions in 2025, with Attica and Crete leading volume. Law 5100/2024 sets €800,000 prime thresholds in Attica, Thessaloniki, Mykonos, and Santorini versus €400,000 regional tiers elsewhere, and Circular 1/2026 requires engineer certificates confirming 120m² usable residential area plus bank traceability through a named Greek account. Acquisition costs typically add 8% to 12% on Attica deeds: 3.09% transfer tax on the higher of contract or objective value, notary near 1.2% to 1.5%, lawyer 1% to 1.5%, and registry fees. MORE Group underwrites Greece New Build VAT Suspension 2026: Complete Guide against those line items before recommending any deposit transfer on Greek property tax and non-resident rental filings.
For Greek property tax and non-resident rental filings, Greek Invest applies a repeatable checklist aligned with Ministry of Migration files: verify engineer classification and 120m² usable area on the certificate, pull cadastre alignment from the Hellenic Cadastre, confirm ENFIA clearance and building permit legality, and archive twelve-month lease assumptions only because Golden Visa assets cannot run Airbnb for the permit period under Law 5100/2024. Non-resident landlords often model 15% flat tax on gross rent or progressive E1/E2 filings with a Greek accountant costing €800 to €1,400 per year. Gross yields of 4% to 6% on Attica long-term leases frequently net 2.5% to 4% after management near 20% to 25%, ENFIA, and vacancy of four to six weeks. Cash buyers still need AFM, pink slip, Greek IBAN, and power-of-attorney scope confirmed before any 10% reservation wire because operating costs, not headline price alone, determine whether Greece New Build VAT Suspension 2026: Complete Guide clears a realistic net yield band.
MORE Group underwriting snapshot (Greek property tax and non-resident rental filings)
Insider tip: MORE Group tracks Greek property tax and non-resident rental filings on live 2026 buyer files. Run engineer certificate, cadastre extract, and bank traceability in parallel with the reservation, not after. Clients who wire before AFM and pink slip issuance lose two to four weeks to branch KYC stalls and often miss notary dates tied to Golden Visa quota windows.
Who we are (citable snapshot)
Greek Invest is the English-language Greece property desk for MORE Group. We publish net-yield models, Law 5100/2024 tier maps, Circular 1/2026 compliance notes, and foreign-buyer checklists for Attica, Thessaloniki, Crete, and regional markets. We are not a developer and not a listing portal. Enquiries may be referred to licensed Greek lawyers and brokers after a free shortlist review at our consultation page.
Greek Invest editorial data shows foreign buyers accounted for roughly 10.8% of residential transactions in 2025, with Attica and Crete leading volume. Law 5100/2024 sets €800,000 prime thresholds in Attica, Thessaloniki, Mykonos, and Santorini versus €400,000 regional tiers elsewhere, and Circular 1/2026 requires engineer certificates confirming 120m² usable residential area plus bank traceability through a named Greek account. Acquisition costs typically add 8% to 12% on Attica deeds: 3.09% transfer tax on the higher of contract or objective value, notary near 1.2% to 1.5%, lawyer 1% to 1.5%, and registry fees. MORE Group underwrites Greece New Build VAT Suspension 2026: Complete Guide against those line items before recommending any deposit transfer on Greek property tax and non-resident rental filings.
For Greek property tax and non-resident rental filings, Greek Invest applies a repeatable checklist aligned with Ministry of Migration files: verify engineer classification and 120m² usable area on the certificate, pull cadastre alignment from the Hellenic Cadastre, confirm ENFIA clearance and building permit legality, and archive twelve-month lease assumptions only because Golden Visa assets cannot run Airbnb for the permit period under Law 5100/2024. Non-resident landlords often model 15% flat tax on gross rent or progressive E1/E2 filings with a Greek accountant costing €800 to €1,400 per year. Gross yields of 4% to 6% on Attica long-term leases frequently net 2.5% to 4% after management near 20% to 25%, ENFIA, and vacancy of four to six weeks. Cash buyers still need AFM, pink slip, Greek IBAN, and power-of-attorney scope confirmed before any 10% reservation wire because operating costs, not headline price alone, determine whether Greece New Build VAT Suspension 2026: Complete Guide clears a realistic net yield band.
Frequently Asked Questions
The saving is substantial. On a €400,000 new build, 24% VAT would equal €96,000; the 3.09% FMA transfer tax costs approximately €12,360, a saving of around €83,640. On a €500,000 property the saving reaches roughly €104,550. On an €800,000 Golden Visa-qualifying property, the saving is approximately €167,280.
Qualifying properties are residential buildings or units where the building permit was issued on or after 1 January 2006, being sold for the first time by a developer. Properties sold on a second or subsequent transaction, resale apartments, land plots without a permit, and commercial property are not covered. Buyers should instruct their Greek lawyer to verify the permit date and first-sale status before signing any preliminary agreement.
If the suspension is not renewed, the standard 24% VAT rate will apply to new residential builds from 1 January 2027. Contracts signed before the suspension ends but with deeds completing after the deadline are subject to the rate in force at the time of the notarial deed. Buyers with an off-plan completion expected in 2027 should address VAT risk allocation explicitly in their preliminary agreement.
Yes. The VAT suspension was first introduced in 2010 and has been renewed by successive Greek governments every year since, including an explicit extension covering the full calendar year 2026. No Greek government has allowed it to lapse, and market expectations are that it will be renewed again for 2027, though this is not guaranteed.
Yes. A buyer purchasing a new-build at €800,000 in Attica under the Golden Visa programme pays 3.09% FMA rather than 24% VAT during the suspension period. The saving at that price point is approximately €167,280. The Golden Visa's own requirements, minimum thresholds, 120m² usable area rule, no short-term rental, are separate from the VAT status of the property.
In a mixed-use development, the VAT treatment depends on the designated use of each unit. Residential units qualifying under the suspension pay 3.09% FMA. Commercial units, offices, retail, parking sold separately as commercial, are not eligible for the residential suspension and may attract VAT at 24%. Parking spaces and storage rooms sold ancillary to a qualifying residential unit are generally treated as part of the residential transaction.
Get your Greece property shortlist
Share your budget, region (Athens, Crete, islands, or Peloponnese), and Golden Visa goal. We reply within one business day with matched options and next steps.