As the housing crisis in Greece rolls on, Greece’s Independent Authority for Public
As the housing crisis in Greece rolls on, Greece’s Independent Authority for Public Revenue (AADE) has provided a much-needed guide addressing 17 common questions about tax exemptions for those intending to purchase their first home.
The guide clarifies eligibility criteria for minors, co-ownership, spouses, and auxiliary spaces and also explains when tax exemption is revoked and when it can be granted a second time.
Some of the most common questions are:
- Can a minor receive a tax exemption for first-time homeownership?
- Is an exemption granted for a property used as a residence but registered as commercial space on the building permit?
- Can a tax exemption be granted a second time or after the contract has been signed?
- What applies to auxiliary spaces?
The key questions encountered by AADE and the answers, as provided in the guide, are found below:
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Does the first-home exemption apply to property transfers through distribution, consolidation, exchange, court-recognized ownership, or settlement of inheritance claims?
- No, the exemption applies only when a property is purchased under a formal sales contract.
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Is the exemption granted if a property is acquired through auction?
- Yes, even if the highest bidder is the spouse or a first-degree relative of the auctioned party.
-
If someone owns a share
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