Yes, your property will be classed as a new build. In Greece, new builds (with permits after 2006) are normally subject to 24% VAT on the first sale by the developer. However, there is a temporary suspension of VAT until the end of 2025, where instead buyers pay only about 3.09% transfer tax—but this applies only if the developer opts in. Since your house will complete in 2026, the suspension may no longer apply unless the law is extended, meaning the 24% VAT is most likely. We recommend confirming with your builder and a local tax advisor.
In reply to Hello, I'm currently… by Nicos Nicolaou
PermalinkDear Nicos,
Yes, your property will be classed as a new build. In Greece, new builds (with permits after 2006) are normally subject to 24% VAT on the first sale by the developer. However, there is a temporary suspension of VAT until the end of 2025, where instead buyers pay only about 3.09% transfer tax—but this applies only if the developer opts in. Since your house will complete in 2026, the suspension may no longer apply unless the law is extended, meaning the 24% VAT is most likely. We recommend confirming with your builder and a local tax advisor.