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In situations where both the lessee and the lessor of a property are legal entities, there is an option to apply VAT instead of Stamp Duty to Commercial leases.
Law on Commercial Leases with VAT:
1. The amendments in Article 17 update Case d) of Paragraph 2 and Paragraph 5 of Article 8, as well as Paragraph 3 of Article 33 of the VAT Code. These changes allow for the option to apply VAT to professional real estate leases, along with the ability to deduct input tax related to the construction and maintenance of the respective property.
2. These provisions replace Case d) of Paragraph 2 of Article 8 of the VAT Code.
- Point (i) emphasizes the mandatory application of VAT on the rental of industrial premises and safes.
- Point (ii) introduces the option to apply VAT to all professional real estate leases, contrasting with previous rules that allowed this option only for shopping centers and commercial centers under specific conditions.
A "Commercial Lease" is defined as any lease of real estate for conducting an economic activity by a taxable tenant.
Commercial and Professional Leases under Article 13 of Law 4242/2014 (Official Government Gazette A’ 50/28.02.2014)
Duration:
The duration of commercial leases is primarily determined by the mutual agreement of the contracting parties. If the agreed lease term exceeds three (3) years, that term binds both parties. However, if the agreed term is shorter than three years, or if no specific duration is established (resulting in an open-ended lease), a minimum statutory term of three (3) years applies, which is mandatory for both parties.
In practice, parties have the flexibility to negotiate different binding durations according to their intentions and needs. Nonetheless, the tenant must remain committed for at least the three-year minimum. It is common for tenants planning significant business investments to seek long-term leases (e.g., 9 years) for tax deduction purposes or to access funding from NSRF programs. At the same time, they may request a binding commitment only for the initial three years. This approach allows them to terminate the lease if the business does not perform well.
Thus, in leases involving considerable business interests, it is both common and valid to agree on a long contractual duration that favors the tenant while maintaining a minimum obligation to stay for three years.
Termination – Notice of Termination:
New leases can be terminated through a written agreement made after the original lease contract, with the date certified. Either the landlord or tenant may terminate the lease after the contractual term (or the minimum statutory three years if the agreed term is shorter) by providing written notice. The lease will terminate three (3) months after this notification, with no compensation owed to either party.
Other Terms:
All other aspects of new leases are governed by the general provisions of the Greek Civil Code, along with the specific terms included in the lease contract. The previous protective provisions under Presidential Decree 34/1995—such as those concerning minimum duration, owner occupation, reconstruction, and compensation for loss of commercial goodwill—do not apply to new leases.
To access the official announcement from the Hellenic Statistical Authority (ELSAT) regarding the Consumer Price Index (CPI) for the past twelve months, click HERE. Then, in the left column labeled "History," locate the month in which the adjustment is to be made.
To accurately evaluate the market value of a property, it is essential to consult an experienced real estate advisor or broker with proven expertise in the specific property type and location that interests you.
A qualified agent can help you assess the property's price by comparing it with similar properties in the same area as well as in the broader market, providing insight into key data, competition, and market trends.
To do this effectively, the advisor will need to consider:
The characteristics of the property (e.g. size, condition, age, building infrastructure, and also the amenities and infrastructure of the surrounding area)
The asking prices for comparable properties in the area
The current market trend (i.e. whether the market is rising, stable, or declining)
Most importantly, recent completed transactions in the area — covering a range of surface areas, ages, and features — to offer a well-rounded and realistic price assessment.
After the contractual lease period expires, the lease may continue either through a formal renewal or tacit acceptance, which can result in its conversion into an open-ended (indefinite-term) lease.
A lease extension refers to the continuation of the lease beyond the originally agreed term.
If the tenant continues to occupy the property with the landlord’s tolerance after the lease has expired, the lease may be deemed to have converted into an indefinite-term lease.
In such a case, either party may terminate the lease, provided they give adequate prior notice.
According to Greek law, commercial leases have a minimum legal duration of three (3) years, even if a shorter period is agreed in the original contract.
If the tenant remains in the property after the three-year term has ended and no new contract is signed, the lease automatically converts into an indefinite-term lease, continuing under the original terms.
Provide formal written notice (e.g. via extrajudicial declaration) if they do not wish to extend the lease.
Be aware that tacit tolerance may be considered acceptance of a new lease.
Declare any new lease or extension on the myAADE platform promptly.
Know that continuing to occupy the property with the landlord’s consent or tolerance gives them a legal basis for possession.
In the case of an indefinite-term lease, understand that the landlord may terminate the lease with notice (usually 1–3 months depending on the agreement or legal use).
Lease extension and the conversion to an indefinite-term lease can benefit both parties, as long as there is mutual understanding and proper procedural compliance. To avoid disputes, it is strongly advised to:
Sign a new written agreement in case of renewal,
Declare all changes for tax purposes, and
Respect legal notice periods for termination.
After the termination of the lease—regardless of the reason (e.g. expiration of the agreed term, termination by either party, etc.)—the obligation to pay rent no longer exists.
Instead of rent, the tenant is liable to pay compensation for use of the property, provided they unlawfully retain possession of the premises.
Equals the amount of the rent agreed upon at the time the lease ended. While it is the same in value, it is not considered rent, but compensation.
Is not subject to stamp duty, as stamp duty applies only to actual lease payments.
Is not subject to lawful rent adjustments (e.g. annual increases), since it is not rent.
Any further damages, e.g. lost income due to another prospective tenant being unable to lease the property.
Any contractual penalty, if such a clause was included in the lease agreement.
The compensation for use becomes payable only after formal notice to the tenant (e.g. via extrajudicial notice or lawsuit).
The lease must have legally ended.
The tenant must be unlawfully withholding the property (i.e. without a renewal agreement or other lawful cause).
From that moment:
The compensation is due and payable.
It begins to accrue interest, as it is considered overdue debt.
If the tenant is a legal entity that has not yet received a Tax Identification Number (TIN) from the competent authority (GEMI – General Commercial Registry), the landlord should enter the corporate name of the legal entity along with the TIN of its legal representative when submitting the lease declaration.
Once the legal entity completes the business commencement process and obtains its own TIN, the landlord must return to the TAXISnet platform to submit a new lease declaration within one (1) month of receiving the TIN.
In this new declaration:
1. The TIN of the legal entity must be included.
2. All other lease details must remain identical to those submitted in the original declaration.
3. The landlord must select the option "Continuation of a previous lease."
4. In the designated field, the registration number of the original lease declaration must be entered.
If you want to find the zone price of your property, the process is quite simple. Here are the steps you need to follow:
You can easily find the answer to the question “Where can I see the objective value of my property?” — the Greek Ministry of Finance has provided an online tool for this purpose.
Specifically, you can check your property’s official value using the platform valuemaps.gov.gr.
Go to valuemaps.gov.gr
Enter the address of your property in the search box (top left)
Click on the map to display the zone value (Τιμή Ζώνης) for your property
Open the Objective Value Calculator by clicking the “€” icon (top right)
Under Property Category, select “Residence (E1)” — the “Starting Value (Zone Value)” will fill in automatically
Enter the following details:
B. Façade Coefficient
C. Floor and Commerciality Coefficients
Fill in the D. Surface Area (in sq.m.) — the E. Surface Coefficient will appear automatically
Tick the box if the exterior wall thickness is ≥ 0.50 m
In F. Age Coefficient, enter the year of construction — the property’s age will fill in automatically
Select any special conditions in G. Special Conditions Coefficients (e.g. damage, location factors)
Under H. Completion Coefficient, enter the S.A.O. (Building Factor) and completion status
In I. Construction Type Coefficient, select the construction method
Add any equipment features (e.g. heating, elevator) in J. Equipment Coefficient
If the property has multiple owners, adjust the K. Co-ownership Coefficient accordingly
Click “Export File” to save the results as a PDF or Excel file
The objective value is calculated by multiplying several coefficients and factors related to the property.
It depends on the following parameters:
Zone / Starting Value
Number of façades
Floor level
Street commerciality
Surface area of the main spaces
Exterior wall thickness
Year of construction
Construction materials (construction type coefficient)
Special conditions (e.g. natural disaster damage)
Building factor (S.A.O. / S.D.) and completion stage
Usable plot area
Total buildable area of the plot
Central heating and elevators
Co-ownership
Some coefficients required for the calculation (e.g. building factor, commerciality) may be difficult to locate.
Therefore, if you need to calculate the objective value for a property transfer or sale, it’s recommended to consult a notary public or real estate professional.
Basic documents:
Property Title Deed
Building Permit
Topographic Diagram (Survey Plan)
Completion Document of Legalization Procedure (if the property includes unauthorized constructions)
Engineer’s Certificate of Urban Planning Legality
Energy Performance Certificate (EPC)
Building ID (Ηλεκτρονική Ταυτότητα Κτιρίου – HTK)
Tax Clearance Certificate of the Owner
Social Security Clearance Certificate of the Owner
ENFIA Property Tax Certificate
Municipal Certificate of Non-Debt for Real Estate Duty (TAP)
Property Transfer Tax Declaration
Certificate of Non-Debt for Inheritance / Parental Gift / Donation Tax
Copy of Buyer’s and Seller’s ID, Tax Registration Number (AFM) and Tax Office (DOY)
The bureaucratic process of property transfer in Greece can often complicate the completion of a sale.
Proper information and early preparation of the required documents will save you valuable time and effort.
If you are planning to sell your property, it is strongly recommended to consult both a notary public and a civil engineer.
They can guide you through the necessary steps to ensure that your property meets all technical and legal requirements.
The sooner you collect all the required documents, the faster and smoother the transfer of ownership will be completed.
The lease declaration must be submitted by the end of the month following either the start date of the lease or any modification of the lease agreement.
If the lease starts on April 1st, the private lease agreement must be submitted by May 31st.
If the lease starts on April 30th, the private lease agreement must also be submitted by May 31st.
The Property Assignment Agreement (also known as a Listing Agreement) is the formal contract signed between the property owner and the real estate agency (or licensed broker).
Through this agreement, the owner officially authorizes the agent to promote, advertise, and present the property with the purpose of finding a suitable buyer or tenant.
This document establishes the legal and professional framework of the cooperation and defines the terms, duration, rights, and obligations of both parties during the brokerage activity.
The property owner assigns the promotion and marketing of the property exclusively to a specific real estate agency.
During the validity of the agreement, the owner cannot market or sell the property independently or through other agents.
An exclusive listing typically ensures a higher level of commitment and marketing investment from the agency.
The owner retains the right to promote or sell the property independently or through other agencies as well.
In this case, the broker is entitled to a commission only if the transaction is completed with a client introduced by that broker.
The agreement has a specific validity period, explicitly stated in the contract — typically between 3 and 6 months.
It can be renewed, terminated, or extended by mutual consent or upon written notice.
Advertise and promote the property through suitable channels (e.g., websites, print media, partner networks).
Keep the owner informed about the progress of the promotion.
Arrange and conduct property viewings with potential buyers or tenants.
Maintain confidentiality and comply with professional ethics.
Perform preliminary checks or provide guidance on legal and technical documentation required for sale or lease.
Provide accurate and truthful information about the property.
Supply the necessary documents (e.g., title deed, ENFIA certificate, energy performance certificate).
Cooperate during property showings.
Pay the agreed brokerage fee upon successful completion of a sale or lease with a client introduced by the agency.
Real estate brokerage activity in Greece is governed by:
Law 4072/2012, Articles 197–204 (defining the conditions for practicing the profession).
The Code of Ethics for Real Estate Agents.
The relevant provisions of the Greek Civil Code (Articles 713 ff.) concerning agency agreements.
It is noted that the brokerage fee is determined by mutual agreement and is explicitly stated in the Property Assignment Agreement.
The Property Viewing Authorization (in Greek: Εντολή Υπόδειξης Ακινήτου) is a document signed by an interested party (prospective buyer or tenant) each time a property is presented or shown by a real estate agency.
It serves as a contractual record proving that a specific property was shown by a particular agent on a specific date.
This document aims to:
Ensure transparency in the real estate transaction.
Confirm the relationship between the prospective client and the real estate agency.
Establish the basis for any future agreement (e.g., sale or lease).
Secure the broker’s right to a commission if a transaction is completed with a client introduced through that showing.
The Property Viewing Authorization is signed before or during the visit to the property and includes the following information:
Details of the interested party (full name, address, tax ID number, phone).
Details of the property (address, type, owner).
Date and time of the viewing.
Details of the real estate agency or agent.
Declaration of acceptance of the terms of cooperation.
When signing the Viewing Authorization, the interested party must present:
A valid ID card or passport, and
(In some cases) a Tax Identification Number (AFM).
These documents are required for legal identification and to ensure the validity of the agreement.
The Property Viewing Authorization is a legally binding document under Greek law (Law 4072/2012 and the Greek Civil Code).
Although it is not a purchase or lease agreement, it is an essential document for verifying legitimate brokerage activity.
Signing the authorization does not impose any financial obligation on the interested party at that stage — however, it protects the broker’s right to receive a commission if a future transaction occurs as a result of that viewing.
When purchasing a property, the prospective buyer should take into account several additional expenses beyond the stated sale price.
These costs increase the actual value of the investment and typically include:
Lawyer’s fee
Notary public fee
Real estate agent’s commission
Property Transfer Tax (Φ.Μ.Α.)
Municipal tax (in favor of the local authority – O.T.A.)
Land Registry or Cadastre registration fee
Registration fee for any mortgage or pre-notation
eauction.gr is the official online platform for property auctions in Greece, including foreclosure and judicial sales. All electronic property auctions are conducted exclusively through this portal.
With a Greek Tax ID (AFM): Log in using your TaxisNet credentials and activate your account via SMS.
Without a Greek AFM: Select an auction, fill in your personal or company details, and register as an individual or legal entity. Registration is approved by the Auction Officer and confirmed via SMS.
To participate, you must:
Submit a Participation Request for the auction of interest.
Pay the participation guarantee (30% of the starting bid) to the notary’s designated account.
Upload all required documents before the submission deadline (at least three working days before the auction).
The participation guarantee equals 30% of the starting bid price. It is refundable if you are not the winning bidder.
Auctions take place Wednesdays, Thursdays, and Fridays, starting at 10:00 a.m. or 2:00 p.m.
Typical duration is 2 hours, with automatic 5-minute extensions if bids are placed in the final minute (up to 12 extensions, total 1 hour).
Submit bids directly on the platform.
Real-time updates show the current highest bid and your ranking.
Stay attentive to the auction status, last bid, ranking, and remaining time.
After the auction closes, the final ranking is displayed, and the highest bidder (ranked 1st) is declared the winner.
Overbidding Protection: prevents accidental bids exceeding twice the current or previous offer.
Help Mode: provides explanations at each stage of the auction.
If an auction is unsuccessful due to lack of participation:
Third auction: Starting price automatically reduces by 20%.
Fourth auction: Starting price further reduces to reach a 35% total reduction from the original price.
Example: A property starting at €1,000,000:
Third auction: €800,000 (20% reduction)
Fourth auction: €650,000 (35% total reduction)
These reductions are automatic and do not require court intervention.
Once the property is awarded to the highest bidder, the following steps must be completed:
a) Payment of the winning bid and expenses
Deposit the remaining balance within 10 business days.
Pay the eAuction platform fee (€350 or €100 depending on starting price).
Cover other associated costs (property transfer tax, notary fees, lawyer fees if applicable).
b) Auction Award Report
The notary drafts the report documenting all bids and officially designating the winner.
The summary of the award report acts as the legal title, required for registration.
c) Property Registration at the Land Registry
Register the notarial deed at the Land Registry or Mortgage Office.
Pay the cadastral registration fee.
Registration formally transfers ownership.
d) Handover of the property
The new owner can take possession in coordination with a lawyer and court-appointed officer.
Under Article 1009 of the Greek Civil Procedure Code (Κ.Πολ.Δ.) (January 2022 onwards):
Residential or commercial leases can be terminated by the new owner:
6 months if there is an officially dated lease.
2 months if no officially dated lease exists.
Key points:
The new owner may request eviction after the relevant period.
Termination applies only after registration of the property transfer at the Land Registry or Mortgage Office.
Exceptions exist (e.g., tenants in vulnerable social groups), so consult a legal advisor.
Our fees are transparent and straightforward:
For rentals: 1 (one) month’s rent
For sales: 2% (two percent) of the purchase price
(plus 24% VAT)
These fees cover a comprehensive range of specialized services designed to ensure the successful and secure completion of your transaction.
1. Finding the Ideal Property
We search for and identify the property that fully meets your needs and preferences.
2. Direct Access to Owners and Properties
We facilitate direct communication with property owners, reducing uncertainty and speeding up the process.
3. Negotiation Expertise
Leveraging years of experience and expertise, we secure the best financial terms on your behalf.
4. Advisory Services
We guide you at every step, providing practical and legal advice to ensure a safe and smooth transaction.
5. Terms Negotiation
We handle the negotiation of all agreement terms, from the price to other contractual obligations.
6. Comprehensive Coordination
We coordinate all actions required, from the initial property viewing to the signing of the contract.
7. Support Throughout the Entire Process
Our associate stays with you at every step, ensuring a seamless and secure completion of the transaction.
Our collaboration goes beyond simply finding the property. We are by your side throughout the process, ensuring that your purchase or rental is completed under the best possible terms and without unpleasant surprises.
