Property Ownership Costs in Greece: What Will You Pay After Buying?
Buying a property in Greece is an important step, but there are also a few things to know once you become the owner.
As a property owner, you will have a number of ongoing expenses, from annual property taxes and utility bills to maintenance and, in some cases, pool or garden care. The total cost will depend on the type of property you own, its size and location, and how you use it.
This guide explains the main costs of owning a property in Greece, so you know what to expect after becoming a homeowner.
What Are the Main Costs of Owning Property in Greece?
The ongoing costs of owning a property in Greece depend on several factors, including the type, size and location of the property and how it is used.
An apartment in a city, for example, will have different expenses from a villa with a swimming pool and garden. However, most property owners should consider the following costs.
ENFIA – Annual Property Tax
ENFIA is the annual property tax paid by property owners in Greece. It applies to residential properties, land and other types of real estate.
The amount of ENFIA depends on factors such as the property’s location, size, characteristics and value. It is normally paid annually, and property owners can check their ENFIA assessment through the Greek tax authority’s online platform.
If you have recently purchased a property in Greece, it is important to include ENFIA in your annual ownership budget.
Electricity
Electricity is one of the main regular household expenses. The amount you pay will depend mainly on the size of the property, how often it is used and your electricity consumption.
A property that is occupied throughout the year will naturally have higher electricity costs than a holiday home that is used only for a few weeks or months.
Water
Water is another regular expense for property owners.
For apartments and houses, the cost is generally based on water consumption and is usually relatively modest. However, properties with gardens or swimming pools may have higher water consumption, particularly during the summer months.
The exact billing system and charges can vary depending on the local water provider and municipality.
Internet and Telephone
Internet and telephone services are not a property ownership cost in the strict sense, but they are a common household expense and are worth considering when calculating the total cost of keeping a property in Greece.
This is particularly relevant if you live in the property permanently, work remotely from Greece or rent the property to guests.
For a holiday home that is used only occasionally, you may also want to consider whether you need a permanent internet connection or another solution.
Maintenance and Repairs
Every property requires some level of maintenance over time.
Regular maintenance can include small repairs, painting, plumbing, electrical work and servicing of appliances or heating and cooling systems. Older properties may require more frequent repairs, while newer properties may have lower maintenance costs in the first years.
It is a good idea to keep a separate budget for unexpected repairs, as these costs can vary considerably from one property to another.
Apartment Common Expenses
If you own an apartment in a building, you will normally have to pay common building expenses, known in Greece as koinochrista.
These expenses cover the maintenance and operation of shared areas and facilities of the building. Depending on the building, they may include cleaning, electricity in common areas, lift maintenance, heating, building maintenance and other shared costs.
The amount can vary significantly depending on the building, the services it provides and the size of your apartment.
Additional Costs for Houses, Villas and Land
Owners of detached houses, villas and properties with outdoor areas may have additional maintenance costs that do not usually apply to apartments.
For example, a villa with a swimming pool may require regular pool cleaning, maintenance and water treatment. A property with a garden may also require gardening, tree trimming and general outdoor maintenance.
Large plots of land may require additional cleaning or vegetation management, particularly when the property is not used regularly.
These costs can be higher during the spring and summer months, when outdoor areas generally require more frequent care.
Property Management
If you do not live in Greece permanently, you may also want to consider property management costs.
A local property manager can help with tasks such as checking the property, arranging repairs and maintenance, looking after the garden or pool, and preparing the property before your arrival.
This can be particularly useful for owners who live abroad or use their Greek property as a holiday home.
Final Thoughts
Buying a property in Greece is the beginning of your ownership journey, not the end of it.
Understanding the ongoing costs in advance can help you plan your budget and avoid unexpected expenses. While some costs are fixed or relatively predictable, others will depend on the type of property and how you use it.
Whether you own an apartment in the city, a holiday home by the sea, a villa with a pool or a plot of land, having a clear idea of the costs involved will help you enjoy your property with greater peace of mind.