You inherited a Greek apartment. Now what?

The phone call usually goes one of two ways. Either: "Yia-yia passed, and we just realised nobody's actually dealt with the Athens apartment." Or: "Mum's getting older and we've finally talked about what happens to the apartment when she goes." Either way, the family is suddenly in the position of having to figure out what to do with a Greek property that's been hovering on the edge of attention for years.

This article is the practical version of that conversation — the version we have with diaspora families on the discovery call when they're trying to figure out what's actually possible. It's not legal advice (talk to a Greek inheritance lawyer for that). It's the operator's-eye view of how this typically plays out.

The three things to check first

Before you make any decisions about what to do with the property, three pieces of information need to be on the table:

1. Is there a will, and which process applies? Greece's General Will Registry supports nationwide checks for wills deposited with a notary or Greek consular authority. A Greek lawyer or notary should confirm which search, publication and succession process applies to the date and facts of the case.
2. Has the property's ENFIA tax been paid and the E9 declaration kept current? The ENFIA payment history reveals whether the property is in good administrative standing or whether years of back-tax and penalties have accumulated. The E9 declaration tells you whether the property's recorded characteristics (size, age, owner) match reality. Out-of-date E9 records are the single most common complication in Greek inheritance cases. See our ENFIA explainer.
3. Are you the sole heir, or one of several? A property inherited by a single child is dramatically simpler than one inherited by three siblings, four cousins, or a complex mix of descendants from a deceased's earlier marriage. The number of co-heirs determines whether any decision can be made by one person or whether you need consensus across a multi-country, multi-generation family group.

How long this clarification takes and what it costs depend on the documents, number of heirs, title history, tax record and whether any issue is disputed. Establishing these facts with a Greek lawyer or notary creates the foundation for every subsequent decision.

The five real options

1. Sell

The clean exit. Realises the value, removes the holding-cost burden, ends the management problem. Two caveats: Greek property sales are typically slower than expected (4-9 months from listing to closing is normal for mid-market properties), and the title must be in your name before sale — meaning the inheritance case must be fully closed first. For older inheritances where the property has passed through multiple unregistered transfers, "closing the inheritance" is itself a multi-month task.

2. Long-term rent (12+ months)

The middle path. Greek tenant protections are strong (eviction is slow if needed), so this is most appropriate for properties in stable areas with predictable demand. Returns on long-term rental in mid-market Athens or Thessaloniki run 3-5% gross of property value annually. The tenant relationship needs management — either a local property-management company (paid percentage of rent) or a trusted family contact (free but limited).

3. Hold and use

Keep the apartment for family use. Most common for diaspora families with strong sentimental attachment, plans for next-generation use, or properties in locations they actually want to spend time in (the Riviera, an island, the family village). Active oversight is essential — a vacant property used 2-4 weeks a year is at high risk of slow damage. Regular home watch turns this option from worry-inducing to genuinely viable.

4. Hold passively (investment hold)

Keep the property without renting it — purely as an asset on the family balance sheet. Common when the property is expected to appreciate (central Athens has gained 6-9% annually in recent years), when rental hassle is unwelcome, or when the property is held under a Golden Visa investment that prohibits short-term rental anyway. Annual holding costs run €2,500-€5,500 for a typical apartment.

5. Gift to the next generation

For families where the property has already passed through multiple generations and the current heirs don't want or need it, gifting to children or grandchildren is a common solution. Greek gift tax is identical to inheritance tax (favourable thresholds for direct-line descendants). This shifts the management problem to the next generation rather than solving it, but in some family configurations that's the right move.

The decision matrix

The right option depends on three variables:

• Family attachment to the property. Strong attachment pushes towards holding (options 3 or 4). Weak attachment pushes towards selling (option 1).
• Liquidity needs. Strong liquidity needs push towards selling or long-term renting. Weak liquidity needs allow passive holding.
• Number and alignment of co-heirs. Sole heir with full discretion: any option is feasible. Multiple aligned co-heirs: any option, with coordination. Multiple unaligned co-heirs: sale is often forced because consensus on holding is impossible.

The common mistakes that cost years

• Doing nothing. The default option. Property sits, ENFIA goes unpaid in some cases, E9 stays out of date, value erodes through neglect. Eventually a younger family member inherits the problem in worse shape than they would have inherited it twenty years earlier.
• Renting it to a relative for token rent. Common, well-intentioned, and legally problematic. Greek tax authorities expect market-rate rental income to be declared and taxed. Below-market rent to family members can trigger gift-tax assessment.
• Listing on Airbnb without checking Law 5170/2025 compliance. Since October 2025, this requires AMA registration, civil liability insurance, and safety equipment installation. The central Athens registration freeze blocks many inherited properties from STR use entirely. Full rules here.
• Letting the inheritance case sit open. An open inheritance case prevents sale, complicates mortgaging, and accumulates administrative friction. Closing it within the first 6-12 months after the death is dramatically easier than closing it after 5-10 years.
• Trusting that "Uncle Kostas is handling it." Uncle Kostas may be entirely competent, partially competent, or absent. Verify what's actually happening at the property and the tax-paperwork level. We've onboarded several properties where a family member was assumed to be paying ENFIA and wasn't — penalties accrued for years.

How the 2025 inheritance reform changed the math

Law 5221/2025 established a digital route for publishing wills and issuing related certificates through the General Will Registry. The Ministry of Justice says the system can materially shorten the will-publication stage. That does not create a guaranteed completion time for the full inheritance: the will, number of heirs, tax filings, property-title history, required documents, professional availability and any dispute all affect the timetable.

AADE states that the inheritance-tax return is generally due within nine months when the death occurred in Greece, or within one year when the death occurred abroad or the heirs lived abroad at the time of death. Acceptance of inherited real estate also requires the relevant five-year ENFIA certificate. These are filing and documentation rules, not estimates of how quickly the entire case will close.

For families who have been postponing the inheritance step for years — sometimes decades — this is the moment to actually do it. The friction that used to make "we'll get to it eventually" the rational choice has materially reduced. See our full breakdown in If your family still owns a Greek apartment, here's what 2025–2026 changed.