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Property Economics - Chania Real Estate Experts

ENFIA Real Estate Property Tax & its Calculation (with a paradigm)

From 2014 onwards and according to the Law 4223/2013, the Uniform Tax on the Ownership of Real Estate Property (ENFIA) is imposed to all real estate properties that are in Greece. Under Article 1 of the aforementioned Law (as amended by Law 4509/2017) it is specified that any natural or legal person or legal entity that owns real estate property (either leased or not), is subject to the said tax and on to the following rights in rem:

• Full ownership
• Bare ownership
• Usufruct possession
• Dwelling
• Surface of the real estate property

The above property tax – E.N.F.I.A. is also imposed to the following rights in rem or rights under contract law:

• Exclusive use
• Parking place
• Supplementary (Auxiliary) places
• Swimming pool

It is noted that the full owner is obliged to pay the total EN.F.I.A., which is charged on the real estate property, in proportion to the percentage of his co-ownership and irrespectively of any amendments that may occur during that year and regardless of the transfer of the title.

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Objective determination and general valuation of property values. Submission of statement E9 – ENFIA

ENFIA Real Estate Property Tax & its Calculation (with a paradigm)
ENFIA Real Estate Property Tax & its Calculation (with a paradigm)

Photo by Micheile Henderson on Unsplash

How ENFIA is Calculated

ENFIA Principal Tax is calculated by multiplying the square meters of the property by the principal tax per square meter (depending on the property location, the surface, the date of construction, the number of the building facades, the currently use of the property and some other coefficients); thus, determining these tax values per sq. m. is part of a complex process undertaken by experts appointed by the Hellenic Government and it is subject to periodic changes and updates.

Tax on luxurious living (Law 4111/2013)

According to the article 44 of the Law 4111/2013, a tax on luxurious living is levied on the owners or possessors of swimming pools (internal or external) which is to be equal to the product of the annual legal expenditure multiplied by a rate 13%.

Area Price (€ / sq.m.)Tax Zone

Main Tax (€ / sq.m)
0-55012.0
551-75022.8
751-105032.9
1051-150043.7
1501-200054.5
2001-250066.0
2501-300077.6
3001-350089.2
3501-400099.5
4001-45001011.10
4501-50001111.30
Over 50001213.00

The Supplementary ENFIA Tax

ENFIA does not only include the Principal ENFIA Tax, but also the Supplementary ENFIA Tax, which is imposed by the following scale (a progressive tax rate) when the value (or accumulative value if more than one properties are owned) of real property assets of individuals exceeds the value of € 200.000 (formerly € 300.000):

Value of property (€)Tax Rate (%)
0,01 – 200,0000.0
201,000 – 250,0000.10
250,000,01 – 300,0000.15
300,000,01 – 400,0000.30
400,000,01 – 500,0000.50
500,000,01 – 600,0000.60
600,000,01 – 700,0000.80
700,000,01 – 800,0000.90
800,000,01 – 900,0001.00
900,000,01 – 1,000,0001.05
1,000,000,01 – 2,000,0001.10
over 2,000,0001.15

Supplementary ENFIA Tax for Legal Persons or Legal Entities

The supplementary ENFIA is also imposed on the property of legal entities, which is calculated at a rate of 5,5‰ although it is subject to discounts, such as 3.5‰ for the properties owned by non profit organizations.

Further Taxation on Offshore Legal Entities

Additionally, the Greek legislator introduced by virtue of Article 15 of Law 3091/2002 (as amended by Law 4446/2016), the liability of certain legal entities (such as offshore companies), that have full property rights or bare ownership or usufruct property in Greece, to pay an annual special property tax of 15%.

Several exceptions from this tax obligation are set out by virtue of Article 15 paragraphs 2-4 Law 3091/2002, such as for companies that have their headquarters in Greece or another EU country (typically SA and Ltd companies), on a. the condition that the shares of the companies are owned by individuals or that these companies declare the individuals who are owners of their shares, and b. that these individuals have been issued with a tax registration number in Greece.

Example of ENFIA Tax (Primary and Supplementary) Calculation

A 4th floor apartment in Chania City centre with total size of 156m², auxiliary areas 2.0m², 1 facade, 2015- the year of construction, with an objective value of €441.340,90 and zone price €4.900.
The B.T. according to the zone price is 11.3€/m² as shown at the first table.

The values of the other coefficients applied in the present case and derive from corresponding tables, provided in article 4 L.4223/2013 and are the following:

The building oldness coefficient for the constructing year 2015 is 2,00.

The tax coefficient for the 4th floor is 1,02.

The facade coefficient for a real estate property with one facade is 1,01.

The auxiliary rooms coefficient for 2.0 sq.m is set to 0,1.

Therefore, the Principal Tax derives from the sum of the following products:

m2 (of main spaces) x B.T. x building oldness coefficient x floor coefficient x facade coefficient =

156 x 11.3 x 2,00 x 1,02 x 1,01 = €3.632,07

SQ.M (of auxiliary rooms) x B.T. X building oldness coefficient x floor coefficient x Auxiliary spaces coefficient = 2 x 11.3 x 1,00 x 1,02 x 0,1= €2,30

Total amount of Main Tax: €3.634,37

In case the objective value of the real estate property is over €250.000, a supplementary tax is implied as well, which is estimated according to the above-mentioned scale.

The supplementary tax for the specific real estate property (property’s value €441.340,90), amounts to € 1,001.53.

Total amount of EN.F.I.A.=Main tax + supplementary tax = €3.634,37+ €1,001.53= €4.635,90.

The ENFIA for year 2018 will be calculated taking into account the new price zones as they have been amended by the recent ministerial decision, instead of the ones applicable on 1 January 2018.

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