Yes. The suspension of VAT on new-build property in Greece has been extended to 31 December 2026 by Law 5246/2025 (published in the Government Gazette on 11 November 2025). Eligible new-build placed under the regime is taxed at the 3.09% property transfer tax instead of the standard 24% VAT — a very large saving. Crucially, the regime is optional for the developer: they may choose to charge normal 24% VAT if they prefer to recover their own input VAT, so it must be confirmed per project. Many online sources are out of date and still state '24% VAT on new-build', which for eligible property under the suspension is wrong for 2026. Confirm the specific project's status with the developer and a Greek tax adviser.
What the suspension does, and why it is a myth-buster
Under normal Greek rules, a brand-new property sold by a developer would attract 24% VAT — a punitive number that, for years, made new-build far more expensive to buy than resale. The VAT suspension changes that: for eligible new-build placed under the regime, VAT is switched off and the transaction instead carries the ordinary property transfer tax of 3.09%. On a €1,000,000 new-build that is the difference between roughly €240,000 in VAT and roughly €30,900 in transfer tax — which is why the measure so heavily reshapes the new-build calculus. The suspension was first introduced to revive construction and has been repeatedly extended; the current extension runs to 31 December 2026.
This is the single biggest piece of outdated information circulating about Greek property. A large share of blogs, forums and even some professional summaries still tell buyers that new-build 'always' carries 24% VAT. For eligible property under the suspension in 2026, that is simply wrong. Because the difference is measured in six figures on a luxury purchase, verifying the current regime — rather than trusting a stale article — is one of the highest-value checks a buyer can make.
The catch: it is optional for the developer, and time-limited
Two conditions make this a per-project question rather than a blanket rule. First, the suspension is optional from the developer's side. A developer who has incurred significant input VAT on construction may prefer to charge normal 24% VAT on the sale so they can recover that input VAT — in which case the buyer pays VAT, not the 3.09% transfer tax. So the same 'new-build' label can carry very different tax outcomes depending on the developer's own election. Never assume; confirm in writing which regime applies to the specific unit.
Second, the relief is time-limited. Law 5246/2025 extended the suspension to 31 December 2026, but it is a policy that has been renewed year by year and could change again. For a purchase that completes in 2026 the 3.09% route is available on eligible property; for anything completing later, the position must be re-checked against the law in force at the time. The figures and dates here are drawn from Law 5246/2025 and contemporary tax commentary (KPMG, vatcalc); confirm the current status and the developer's election with a Greek tax adviser before relying on them.
Sources
Primary and expert sources behind this answer:
- Law 5246/2025 (Government Gazette, 11 November 2025) — Extension of the VAT suspension on new-build property to 31 December 2026 ↗
- KPMG TaxNewsFlash / vatcalc — Greece VAT suspension on new-build extended to end-2026 ↗
- AADE — Independent Authority for Public Revenue (Greek tax authority: transfer tax, ENFIA, capital gains, inheritance, short-term-rental AMA register) ↗
This page is general information, not legal or tax advice. Greek property, tax, letting and succession rules are technical and change frequently — several reliefs here (VAT suspension, capital-gains suspension) are time-limited to 31 December 2026. Every figure and rule here must be confirmed with a Greek lawyer (dikigóros), a notary (symvolaiográfos) or a tax adviser (logistís/forotechnikós) for your specific situation before you act.
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