According to data presented by the Hellenic Federation of Property Owners (POMIDA), Greece is at the top of the list with the highest property taxes paid in the EU.
As far as the taxation of property income is concerned, out of 22 countries, Greece is in the top five along with Ireland, Germany, France and Belgium.
Greece is the only country that has three different kinds of property tax and is one of the six that tax cumulative value rather than individual items.
Our country has the highest property tax rate at 2% per year, the second highest estate tax at 10%, beaten into second place by Belgium at 12.5%. In the construction sector the VAT imposed is at 23% while in most countries real estate transactions are exempt from VAT.
Greece is the only country that does not recognize any tax deduction for repair, maintenance work, management fees and mortgage interest. Moreover, it is one of the ten countries in Europe that impose an estate tax.
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