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Greece plans tax relief and VAT changes to boost housing availability
The Greek government is planning a dual tax relief package for property owners to increase the availability of housing in the market, with a specific focus on social housing. These measures are expected to be announced by Prime Minister Kyriakos Mitsotakis as part of the National Housing Strategy for 2026-2035.
Key proposals include reducing VAT rates and potentially freezing the 24% VAT on new property sales through 2027. This would provide tax incentives to construction companies that build homes intended for long-term affordable or social rental. Such a move is supported by EU directive 2022/542, which allows for reduced VAT rates on housing construction within social policy frameworks.
If implemented, buyers of new properties would continue to be subject only to a 3% transfer tax rather than the full 24% VAT. Market analysts suggest that maintaining the VAT suspension is a vital tool for boosting construction, as it significantly lowers purchase costs for consumers.
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- [● 3 SOURCES] EU directive 2022/542 allows for a reduced VAT rate on the provision and construction of housing within social policy frameworks. cretaone.gr · www.ilialive.gr · www.cnn.gr
- [● 3 SOURCES] The plan includes tax incentives for construction companies to build homes for long-term affordable or social rental. cretaone.gr · www.ilialive.gr · www.cnn.gr
- [● 3 SOURCES] Authorities are considering freezing the 24% VAT on new property sales through 2027. cretaone.gr · www.ilialive.gr · www.cnn.gr
- [● 3 SOURCES] The proposed measures are part of the National Housing Strategy for 2026-2035. cretaone.gr · www.ilialive.gr · www.cnn.gr
- [● 3 SOURCES] The Greek government is planning tax relief for property owners to increase housing availability. cretaone.gr · www.ilialive.gr · www.cnn.gr