Greece property tax gap poses challenge for 2027

Greece faces a significant fiscal and political challenge regarding the reassessment of property objective values, scheduled for the second half of 2027. There is a widening gap between current market prices and the official values used for taxation. Since the last major revision in 2021, real estate prices have surged due to high demand, low supply, and increased construction costs.

Data from the Bank of Greece indicates a cumulative increase of 61.4% in the general apartment price index between 2020 and 2025. In high-demand areas such as central Athens, the Southern Suburbs, and Thessaloniki, price increases have exceeded 100%. In specific locations like Glyfada, market prices are more than 2.7 times higher than the official objective values.

The upcoming reassessment is expected to cause a significant rise in property taxes and transfer fees, creating a difficult political situation for the government in power during 2027.