This article provides a clear overview of the wealth tax framework as it applies in Greece for the 2025 tax year. The focus is on key regulations, rates, thresholds, and practical implications for individuals holding assets within Greek jurisdiction.
Overview of the Greek Wealth Tax in 2025
Greece’s wealth tax regime primarily targets the value of property held by individuals. In line with regional expectations, the system is structured as a progressive tax assessed on the value of immovable property.
Assessment Basis and Thresholds
For 2025, Greece assesses wealth tax solely on property value, rather than comprehensive net worth. This means the tax is triggered by the total value of immovable assets held by an individual, after factoring allowable liabilities. The regulations set clear thresholds and rates as outlined below.
| Property Value Bracket (EUR) | Property Value Bracket (USD) * | Rate (%) |
|---|---|---|
| €0 – €500,000 | $0 – $543,000 | 0% |
| Above €500,000 | Above $543,000 | 5% |
*Conversion based on an exchange rate of 1 EUR = 1.09 USD.
Progressive Rate Structure
The tax structure is progressive. No wealth tax is due if the total value of an individual’s qualifying property is €500,000 or less. For property holdings exceeding €500,000, a 5% tax rate applies to the value above this threshold. This implements a relatively high marginal rate on significant real estate holdings.
Surtaxes and Additional Charges
Greek law further imposes surtaxes for higher-value property in 2025. When the value of immovable property exceeds €500,000, the principal tax may be increased by a range between 5% and 20%. The exact percentage within this surtax range is determined by the total value, introducing a tiered effect:
| Condition | Surtax Range (%) | Applies to Property Value (EUR) | Applies to Property Value (USD) * |
|---|---|---|---|
| Immovable property > €500,000 | 5% – 20% | Above €500,000 | Above $543,000 |
*Conversion based on an exchange rate of 1 EUR = 1.09 USD.
While information on the exact calculation for incremental surtaxes is not publicly available, the framework indicates that as the property value increases above €500,000, the surcharge rate increases accordingly, up to a maximum of 20%.
Assets in Scope
The Greek wealth tax, as applied in 2025, focuses exclusively on immovable property. There is currently no indication from available data that other asset classes (such as securities or cash holdings) are included within the assessment basis for this tax.
Holding Periods
No data is available regarding minimum or maximum holding periods for wealth tax purposes in Greece. This suggests the tax applies purely based on ownership status as of the assessment date for each fiscal year.
Pro Tips: Navigating Greek Wealth Tax Regulations
- Monitor Property Valuations: Given the progressive and surtax structure, keeping accurate records and up-to-date valuations for all Greek immovable property holdings is crucial for tax estimation and compliance.
- Plan for Surtaxes: If your property value approaches or exceeds the €500,000 threshold, anticipate the potential for additional surtaxes up to 20%. Factor these into your annual tax planning and reserve calculations.
- Check for Updates: Verify rates and brackets each tax year via the official Greek government finance portal (https://www.aade.gr/)—surtax bands and rates are subject to legislative change and may not be widely reported in advance.
- Map Out Asset Ownership: Structuring property ownership strategically (e.g., among family members or via legal entities) may yield favorable results under the progressive regime. Consult a local adviser for guidance, as the law is highly specific.
Frequently Asked Questions
- Is the Greek wealth tax limited to real property?
Yes, for 2025 the assessment applies only to immovable property—other asset classes are not taxed under the same regime. - How is the EUR 500,000 threshold determined?
The threshold is based on the assessed market value of all qualifying property owned by the taxpayer as of the tax assessment date. - Are there municipal or regional variations?
Available data reflects national thresholds and rates. Local surcharges, if any, are not included in 2025 data.
Greek wealth tax compliance requires careful preparation, particularly for those with substantial immovable property holdings. The progressive rates and potential surtaxes mean that tax liabilities can increase significantly above the €500,000 mark. Conducting annual asset reviews and staying informed via the official Greek tax portal is recommended. As always in such jurisdictions, prudent structuring and documentation are essential for effective wealth management and regulatory compliance.