Property Costs and Taxes in Crete
Crete is one of the most affordable places to buy property in the Mediterranean. Whether you’re looking for a home or an investment, the island offers great value without stretching your budget.
With competitive property prices and low annual taxes, Crete’s real estate market works for all kinds of budgets. The buying process is clear and straightforward, with affordable fees for legal, notary, and transfer services.
Obligatory Fees for Property Purchases in Crete
Property Transfer Tax
Land Registry Fee
Lawyer Fees + VAT
Notary Fees + VAT
Flexible Costs for Buying Property
Our consultancy services are designed to make your property purchase as smooth as possible.
Consultancy Fees
- 1%–2% of the property value, depending on the case.
Real Estate Agent Fees
- Agents usually charge 2% + VAT to both buyers and sellers.
- If we connect you directly with the property owner, you won’t pay any agency fees, saving you money.
Engineer Inspection
- Recommended to spot hidden issues or unauthorized changes.
- Costs range from €300 to €2,000+, depending on the property and location.
Lawyer Inspection
- Ensures the property is free from debts or mortgages.
- Included in our services, while other lawyers may charge extra.
Obtaining a Greek Tax Number (AFM)
- Required for property purchases in Greece.
- Free when you work with our legal partners.
Opening a Greek Bank Account
- Needed for property transactions.
- Included in our consultancy services; other lawyers may charge for this.
Document Translation
- Certified translations are required for legal documents.
- Costs vary by language but are kept affordable through our trusted translators.
Property Insurance
- Mandatory for properties in high-risk areas like earthquake zones.
- We’ll help you find local insurance providers for better coverage and support.
Annual Property Tax (ENFIA) in Crete
€2- €13 / sqm
Main Tax
0.15% - 1.15%
Supplementary Tax
Affordable Annual Property Taxes in Crete
Owning property in Crete comes with low annual taxes, thanks to Greece’s fair property tax system. The main property tax, ENFIA, is based on the size, location, and features of the property, ensuring clear and reasonable costs for owners.
Compared to other Mediterranean destinations, ENFIA is highly affordable. Even for high-value properties, taxes are applied progressively, making Crete a cost-effective choice for both residents and investors.
Key Points About ENFIA in Crete:
- Main Tax: Usually between €2 and €13 per square meter, depending on the property’s details.
- Supplementary Tax: Only applies if your properties have a total taxable value above €250,000, with rates starting at 0.15%.
- Exemptions: Tax reductions or exemptions are available for certain groups, like large families or low-income individuals.
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