Greece Property Transfer Tax (FMA): 2026 Complete Guide
FMA transfer tax in Greece is 3.09% on the higher of sale price or objective value—paid before deed. Worked examples, cost tables, new-build rules.
By Greek Invest Editorial · Updated June 17, 2026 · 10 min read
Quick answer: Greece’s property transfer tax (FMA) is a flat 3.09% applied to the higher of your purchase price or the government’s objective value. It is paid directly to the tax authority before the deed is signed, no payment, no transfer. On a €400,000 purchase where the objective value is €280,000, FMA costs €8,652.
Greece’s property buying process has become significantly more straightforward since the 2014 tax reform, and FMA is a good example of why. What was once a confusing tiered tax reaching 10% is now a single predictable rate. Understanding how FMA works, and how the objective value system can work in your favour or against you, is the foundation of every property cost model in Greece. See the full cost of buying property in Greece guide for the complete fee stack, or the step-by-step buying process guide for the sequence of transactions. For off-plan considerations, the off-plan vs resale comparison covers how FMA and VAT interact with different property types. Non-EU nationals should also read the foreign buyer guide for border zone and permit rules that can affect the timeline. The objective value guide explains how AADE sets the taxable base.
What FMA Is and Why It Exists
FMA is the abbreviation for Φόρος Μεταβίβασης Ακινήτων, Greek for “property transfer tax.” It is a one-off tax on the transfer of ownership of real property, paid by the buyer at the point of deed execution. It is not an annual tax; it applies only once, at the moment of purchase. It is not VAT; it applies to resale properties and, in 2026 due to the VAT suspension, to new-build properties as well.
The tax was introduced in Greece as part of a long-standing fiscal approach to capture value at the point of property exchange. Before 2014, the rate was tiered: 8% on the first €20,000 of property value and 10% on everything above. For any property worth more than €50,000, the effective rate was well above 9%. The 2014 reform replaced this with a single flat rate, initially 3%, and subsequent minor adjustments brought it to the current 3.09%. That 0.09% addition represents a municipal surcharge that is collected together with the base tax.
The reform made Greece one of the more competitive property tax environments in Europe for resale transactions, though VAT-liable new-builds at 24% remain an outlier when the suspension is eventually lifted.
How the Objective Value System Works
The objective value (αντικειμενική αξία) is the central concept in Greek property taxation and the number that determines your actual FMA bill in most cases.
The Greek Ministry of Finance maintains zone maps that assign every plot and building a calculated assessed value. The formula takes into account:
- Location zone, each area has a base value per square metre assigned by the Finance Ministry
- Square metres, total floor area of the property
- Floor level, higher floors carry a coefficient above ground floor
- Building age, older buildings apply a depreciation factor
- Distance from the sea, coastal proximity increases the coefficient
- Ancillary spaces, garages, storage rooms, and shared areas use lower multipliers
The resulting figure is the objective value. The Finance Ministry revises zoning coefficients periodically. Athens objective values were significantly revised in 2022 and again in late 2024, bringing many central and southern suburban areas close to actual market prices. Areas like Kolonaki, Glyfada, and Kifissia now have objective values within 5–15% of transaction prices.
When objective value is lower than purchase price. In rural areas, smaller islands, and less-tracked locations, objective values can be 20–40% below market. A buyer paying €500,000 for a villa where the objective value is €300,000 pays FMA on €300,000 (€9,270), not on the €500,000 paid. This is not tax evasion, it is the legal operation of the system. The tax authority accepts the transaction at objective value as long as it is the higher of the two bases.
When objective value exceeds purchase price. Less common, but possible in areas where market prices have fallen or in distressed sales. In this case, FMA is paid on the objective value regardless of the lower price agreed between the parties.
Always verify the objective value of any specific property with your lawyer before agreeing to a price. The calculation can be run using the AADE online tool or by your Greek notary.
The 3.09% Rate: Breakdown and Calculation
The 3.09% rate consists of two components:
| Component | Rate |
|---|---|
| Base transfer tax | 3.00% |
| Municipal surcharge | 0.09% |
| Total FMA | 3.09% |
The calculation is straightforward once the taxable base is known:
FMA = max(purchase price, objective value) × 3.09%
The only complication is determining which base applies. Your notary and lawyer will calculate this before the deed signing date. Allow one to two weeks before signing for your legal team to run the objective value calculation and prepare the FMA payment filing.
Worked Examples at Key Golden Visa Thresholds
Greece’s Golden Visa programme uses price thresholds of €250,000, €400,000, and €800,000 depending on the zone. FMA is always calculated on objective value or purchase price, whichever is higher, not on the visa threshold. This table illustrates realistic scenarios:
| Purchase Price | Objective Value | Taxable Base | FMA at 3.09% |
|---|---|---|---|
| €250,000 | €180,000 | €250,000 | €7,725 |
| €250,000 | €270,000 | €270,000 | €8,343 |
| €400,000 | €280,000 | €400,000 | €12,360 |
| €400,000 | €350,000 | €400,000 | €12,360 |
| €400,000 | €420,000 | €420,000 | €12,978 |
| €800,000 | €600,000 | €800,000 | €24,720 |
| €800,000 | €850,000 | €850,000 | €26,265 |
In the fourth row, a common Athens scenario, the buyer pays FMA on the €400,000 purchase price because it exceeds the €350,000 objective value. In the fifth row, the objective value is higher, so FMA is calculated on €420,000. The difference is €618: small in context, but worth knowing before signing.
How and When FMA Is Paid
The payment sequence is fixed:
- Buyer and lawyer calculate FMA based on objective value and purchase price
- Buyer submits E9 declaration (property registration form) to AADE through the Taxisnet portal
- AADE generates the payment code (Ταυτότητα Οφειλής) for the FMA amount
- Buyer pays online or at bank: payment typically takes one to two business days to be confirmed
- Notary verifies payment receipt before executing the final deed (συμβόλαιο)
- Deed is signed and certified: ownership transfers to the buyer at this moment
- Registration at land registry within a few days of signing
There is no instalment plan, deferment, or escrow arrangement for FMA. Buyers must have the funds available before the deed date. If FMA is unpaid, the notary cannot proceed.
FMA on New-Build Properties in 2026
Properties where the building permit was issued after 1 January 2006 would normally attract 24% VAT on the first sale rather than 3.09% FMA. This is a significant rate difference and shapes the economic comparison between new-build and resale:
| Property Type | Normal Tax Regime | 2026 Effective Rate |
|---|---|---|
| Pre-2006 permit (resale) | FMA 3.09% | 3.09% |
| Post-2006 permit (first sale) | VAT 24% | 3.09% (VAT suspended) |
| Post-2006 permit (resale, 2nd+ owner) | FMA 3.09% | 3.09% |
The VAT suspension has been renewed repeatedly since 2008 and currently runs until 31 December 2026. Buyers of new-build properties in 2026 pay 3.09% FMA, not 24% VAT, a substantial saving on high-value properties. A €400,000 new-build under the normal VAT regime would incur €96,000 in VAT versus €12,360 in FMA. Whether the suspension will be extended through 2027 is uncertain at the time of writing; buyers planning to complete a new-build purchase in early 2027 should check the current status with their lawyer.
Note that VAT applies only on the first sale from a developer. If you buy a post-2006 property from a private owner who is not a developer, FMA applies regardless of whether the VAT suspension is in force.
FMA in the Full Cost Context
FMA is the largest single acquisition cost but not the only one. Here is how it sits within the full fee structure:
| Fee | Rate | Calculation Base | On €400K (OV €280K) |
|---|---|---|---|
| FMA Transfer Tax | 3.09% | Higher of price or OV | €12,360 |
| Agent Commission | 2.0–2.5% + 24% VAT | Purchase price | €9,920–€12,400 |
| Lawyer Fees | 1.0–1.5% | Purchase price | €4,000–€6,000 |
| Notary Fees | 0.8–1.2% | Objective value | €2,240–€3,360 |
| Land Registry | 0.475–0.65% | Objective value | €1,330–€1,820 |
| Engineer Survey | flat €300–800 | Fixed | €300–€800 |
| Total Extras | €30,150–€36,740 |
Total acquisition cost on a €400,000 property: approximately €430,000–€437,000. FMA represents roughly 40% of all extra costs in this scenario. The exact ratio shifts if objective value is higher than purchase price or if the buyer uses a premium law firm.
How Greece Compares to Other European Countries
For international buyers comparing markets, Greece’s FMA rate is competitive within Europe, particularly given that capital gains tax is suspended until the end of 2026:
| Country | Transfer/Stamp Tax | Notes |
|---|---|---|
| Greece | 3.09% | On higher of price or OV; no CGT until Dec 2026 |
| Spain | 6–10% (ITP) | Varies by region; up to 11% in some |
| Portugal | 0–8% (IMT) | Slab rates; exempt under €97K |
| Italy | 2–9% | 2% for primary residence; 9% for second homes |
| France | ~5.8% | Droits de mutation, includes notary component |
| Cyprus | 0–8% | 0% first-time buyer exemption available |
| Malta | 5% (stamp duty) | Flat rate on purchase price |
Greece’s combination of a flat 3.09% rate, no capital gains tax in 2026, and competitive notary/lawyer fees makes it one of the lower total-acquisition-cost environments in the Mediterranean for foreign buyers.
Common Mistakes Buyers Make on FMA
Budgeting FMA on the sale price when objective value is higher. This is the most frequent planning error. Your lawyer can pull the objective value before you exchange contracts, make this part of due diligence, not an afterthought.
Forgetting municipal surcharge. Buyers sometimes see “3%” quoted and plan accordingly, then find the bill is 3.09%. The 0.09% surcharge is mandatory and collected as part of the same payment.
Confusing FMA with ENFIA. ENFIA is the annual ownership tax; FMA is the one-off transfer tax. They are entirely separate obligations. ENFIA starts from the year after acquisition; FMA is only at the point of purchase.
Not allowing enough lead time for payment. The E9 filing, payment code generation, and bank transfer confirmation can take three to four business days. Schedule the deed signing at least five working days after you plan to make the FMA payment to avoid delays at the notary.
Assuming new-build means VAT. Until 31 December 2026, it means FMA instead. Confirm the permit date and developer status with your lawyer to know which regime applies.
Red flags and buyer checklist (greece property transfer tax fma)
Pause before you wire a deposit if any line below fails. Greek resale and off-plan deals move quickly in marketing and slowly in cadastre and engineer checks.
- Red flag: seller refuses engineer certificate, cadastre extract, or ENFIA clearance before reservation.
- Red flag: usable area on the contract is below 120m² on a Golden Visa asset, or the notary deed lists commercial use.
- Verify objective (tax) value vs agreed price: FMA transfer tax uses the higher figure under Law 5100/2024 practice.
- Confirm STR registration status: Golden Visa qualifying properties cannot run Airbnb for the permit period.
- Request two years of building common charges and any pending special assessments from the administrator.
- Border-zone properties need Ministry approval for non-EU buyers; do not assume automatic clearance.
Case Study: Calculating the 3.09% Property Transfer Tax (FMA)
To understand how the property transfer tax is calculated and paid, let us examine the transaction of a renovated apartment in central Athens purchased for €320,000.
In Greece, the buyer is responsible for paying the Property Transfer Tax (Φόρος Μεταβίβασης Ακινήτων - FMA) before the final deed can be signed. The tax rate is set at a flat 3.00%, plus a local municipal surcharge of 3% on the tax amount, resulting in an effective rate of 3.09%.
Here is the step-by-step tax calculation and payment process:
- Determine the Taxable Base: The tax is calculated on the higher of the contract purchase price (€320,000) or the property’s official objective value (€280,000).
- Taxable Base: €320,000 (Purchase Price is higher).
- Calculate the FMA Tax: €320,000 × 3.09% = €9,888.
- Online Tax Declaration (Taxisnet): The buyer’s notary prepared the digital FMA declaration and uploaded it to the AADE portal.
- Payment and Receipt: The buyer paid the €9,888 tax online through their Greek bank account using the unique payment code (ID πληρωμής) generated by the system, and obtained the official payment receipt.
The notary signed the final transfer deed only after verifying the physical tax payment receipt. Buyers should note that FMA is a non-refundable transaction cost that must be paid in full before closing, and should be factored into your cash reserves from day one.
FMA Tax Compliance Checklist
To ensure a smooth tax payment and avoid closing delays, follow these steps:
- Verify Objective Value Base: Ask your notary to calculate the official objective value of the property immediately after the price is agreed, ensuring your tax budget is based on the correct taxable base.
- Obtain Greek Tax ID (AFM): You cannot file the FMA declaration or pay the tax without an active Greek AFM number. Ensure your lawyer secures your AFM during the initial due diligence phase.
- Timely Online Payment: FMA must be paid in a single instalment before the deed signing. Bank transfers within Greece typically clear within 24 hours, but international transfers can take up to five business days, which should be factored into your closing timeline.
Frequently Asked Questions
FMA (Φόρος Μεταβίβασης Ακινήτων) is Greece's one-off property transfer tax. The rate is a flat 3.09% applied to the higher of the agreed sale price or the government's objective value. It replaced a former tiered 8–10% system in 2014 and has been stable since.
FMA is 3.09% of the taxable base, which is the higher of the agreed purchase price or the objective value. If you buy for €300,000 but the objective value is €350,000, FMA is 3.09% of €350,000 = €10,815. If the objective value is €250,000, FMA is 3.09% of €300,000 = €9,270.
FMA must be paid to the Greek tax authority (AADE) before the notarial deed is signed. The notary verifies the tax payment receipt before executing and certifying the transfer. There is no deferred payment option, payment is made in full on the day of signing, by the buyer.
Properties where the building permit was issued after 1 January 2006 normally attract 24% VAT instead of 3.09% FMA. However, new-build VAT has been suspended until 31 December 2026. During the suspension, new-build buyers pay the standard 3.09% FMA. Pre-2006 permit properties always attract FMA.
Objective value (αντικειμενική αξία) is the government-assessed value of a property, calculated using location zone, square metres, floor level, building age, and sea proximity. It is the minimum taxable base for FMA, notary fees, and land registry fees. In rural areas, objective value can be 20–40% below market price, reducing FMA. In central Athens it now closely tracks market prices.
Total acquisition costs run 7–10% above the purchase price. FMA at 3.09% is the largest single cost. Add agent commission (2–2.5%), lawyer fees (1–1.5%), notary (0.8–1.2%), and land registry (0.475–0.65%). On a €400,000 property, total costs including FMA typically reach €425,000–€440,000.
No. FMA is a mandatory government tax on every transfer of existing residential and commercial property. It cannot be negotiated or waived. The only way to pay less FMA is if the objective value is lower than the purchase price, you then pay 3.09% on the objective value. Some rural zones offer this advantage.
Get a Singapore property shortlist
Share your budget, target region (CCR, RCR, or OCR), and FTA status. We reply within one business day with matched new launch and resale options.