Greek capital gains tax on property — the 2026 picture.

Greek capital gains tax on property sales is the question every diaspora seller asks before any other tax question. The answer in 2026 is straightforward: no Greek capital gains tax is currently being collected on individual sales. The longer answer, including what the law actually says, what's on the table for reinstatement, and what your home country still does to you, takes a few thousand words.

This article is the explainer. None of it replaces a Greek tax accountant for your specific transaction, but the framework matters because the rules can change and have changed.

What the law actually says

Greek Law 4172/2013 (the income tax code) Article 41 provides that capital gains on the sale of real estate by individuals are subject to a 15% tax, calculated on the gain (sale price minus acquisition price, adjusted for inflation and improvements). This is the underlying regime.

However, since 2014, the entry into force of Article 41 has been suspended by successive annual legislative acts. Each year the Greek parliament passes a law extending the suspension. As of 2026, the suspension remains in force through the end of 2026 (and likely beyond, though that's a separate political question).

The practical result: while the law exists on paper, no Greek capital gains tax is currently being collected from individual real-estate sellers, including diaspora non-resident sellers.

Why the suspension keeps being renewed

Three reasons, in rough order of importance:

• Encouraging the property market. Greek property liquidity matters to bank balance sheets (collateral values), to construction-industry activity, and to foreign investment attractiveness. CGT discourages sales
• Administrative complexity. Calculating gain accurately requires accurate historical acquisition records, accurate improvement records, and inflation indexing — not Greek tax administration's strongest suit. The suspension avoids needing to do this
• Political optics. Reinstating a property CGT would be unpopular with a property-owning electorate that already feels heavily taxed under ENFIA

Each renewal has been treated as a one-year measure but functionally the suspension has become a structural feature of the Greek tax landscape. Most observers expect continued renewal at least through this electoral cycle; predictions beyond 2027 are speculative.

What would happen if the regime were reinstated

If the suspension lapses and Article 41 takes effect, the regime would work as follows:

• Rate: 15% flat on the realised gain
• Calculation: Sale price minus acquisition price, plus capital improvements, inflation-adjusted using a state coefficient table
• Holding-period adjustment: the law provides a discount factor based on holding period — properties held longer pay tax on a smaller portion of the gain (some discussions have proposed 5-25% per decade held, but specific factors would be set by implementing regulations)
• Primary-residence exemption: sale of primary residence under certain conditions would be exempt
• Inherited-property basis: the basis for inherited property would be the value at inheritance, not the original purchase price
• Non-resident sellers: the regime would apply equally to non-resident sellers on Greek-situated property gains

For a typical diaspora seller scenario — inherited an Athens apartment 10 years ago, selling now for €350,000, basis at inheritance was €280,000 — the calculation would be roughly: gain = €70,000, after inflation adjustment maybe €50,000, holding-period discount of 20-50% maybe leaving €25,000-€40,000 taxable, at 15% = €3,750-€6,000 of tax. Material but not catastrophic.

For a Greek-American who inherited the same property at €280,000 and is selling now: the Greek CGT would apply if reinstated; the US CGT applies regardless (see below).

What's on the table politically

As of mid-2026, no concrete proposal to reinstate Article 41 has been introduced. The renewal of the suspension for 2026 happened with little political drama in late 2025.

The scenarios where reinstatement becomes more likely:

• EU fiscal-pressure-related tax reform requiring incremental revenue sources
• A change of government with different fiscal priorities
• A property-price boom that makes CGT politically more palatable as a windfall tax
• Specific EU directive obligations around aligned property tax regimes

None of these are immediately on the horizon. Most likely outcome through 2027 is continued annual renewal. Anyone selling Greek property in 2026 should plan as if no Greek CGT applies; anyone planning a sale for 2028+ should treat reinstatement as a tail risk worth conversations.

The home-country layer that does apply

The Greek-side suspension doesn't eliminate the home-country CGT exposure for diaspora sellers. Each home-country has its own regime that applies regardless of Greek treatment:

Australia

Australian residents are taxed on worldwide capital gains. A Greek property sale by an Australian-tax-resident is subject to Australian CGT at marginal income tax rates, with a 50% discount for assets held over 12 months. Foreign-sourced gains receive a credit for any foreign tax paid (Greek CGT currently being €0, no credit applies).

Australian basis is typically the AUD value at acquisition (or AUD value at inheritance for inherited property), plus eligible improvements, minus depreciation if rental-property treated. Currency moves over the holding period are embedded in the gain calculation.

USA

US citizens and residents taxed on worldwide gains. Greek property sale subject to US federal CGT (0%, 15%, or 20% based on income tier) plus 3.8% net investment income tax for higher earners, plus state-level CGT in many states.

Basis is USD value at acquisition or inheritance plus improvements minus depreciation if rental. Currency moves embedded. Foreign-tax-credit available if Greek CGT applied (currently €0).

UK

UK-resident sellers taxed on worldwide gains. Greek property sale subject to UK CGT at 18%/24% (residential property rates) depending on the seller's other income. £3,000 annual exemption available 2026. Foreign-tax-credit relief for any foreign CGT paid.

UK non-dom residents may be on the remittance basis, in which case Greek property gains are only taxed when proceeds remitted to the UK. This regime is being reformed; check current rules.

Canada

Canadian residents taxed on worldwide gains. Greek property sale subject to Canadian CGT — 50% of the gain (inclusion rate) added to income and taxed at marginal rates. Foreign-tax-credit relief for foreign tax paid.

The interaction with Greek inheritance basis

One specific situation worth understanding: when you inherit Greek property and later sell it, the gain calculation differs between Greek and home-country rules.

Greek rules (if CGT reinstated): basis = value declared on Greek inheritance return = objective value (αντικειμενική αξία), typically below market.

US / Australian / Canadian / UK rules: basis = fair market value at inheritance date in local currency. This "stepped-up basis" is generally more favourable than original-purchase basis.

The mismatch can create situations where Greek CGT (if applicable) calculates on a low objective-value basis but home-country CGT calculates on a higher market-value basis — leading to different tax outcomes in the two jurisdictions for the same transaction. Worth modelling in advance with your accountant.

Practical takeaways for 2026 diaspora sellers

• Assume no Greek CGT on your 2026 sale. The suspension is firmly in place
• Plan for your home-country CGT obligation — this is the actual tax cost on the sale
• Document basis carefully: original purchase price (with FX rate to home currency), value at inheritance if applicable, all capital improvements over the holding period. Your home-country tax authority will want this
• Engage your home-country tax accountant 6+ months before the sale, not afterwards. Pre-sale planning options exist (timing, basis maximisation, depreciation recapture management) that disappear once the sale completes
• For Greek-American sellers specifically, see our FATCA piece for the broader US reporting picture
• For sellers planning a sale in 2028+, build in a tail-risk consideration that Greek CGT might be reinstated. Your Greek lawyer can advise on hedging structures

How home watch fits

We're not tax advisors. What we do for sellers on the documentation side:

• Maintain comprehensive expense records (utilities, building dues, maintenance, renovation) over the holding period — basis documentation for home-country CGT
• Photographic records of capital improvements with dates and costs — defensive evidence if home-country authority audits
• Pre-sale property preparation as we described in our selling-property piece
• Documentation handover to the buyer at sale completion

Companion reading: selling Greek property as a non-resident, FATCA for Greek-Americans, true costs of buying, FX risk.