Yearly expenses for property owners

Yearly expenses for property owners in Greece

Yearly expenses for economy property owners in Greece are lower than in other countries-«competitors».

Yearly expenses for property owners of apartments, houses and flats in Greece include the following expenses:
 
 
1. Local municipal tax for property. Depends on the square meters of property, declared in the Town Council. The tax expenses is about 1€ per sq. meter which has to be paid to the Town Council.  The tax expense is included in the electricity bill.
 
2. Property tax. Depends on the square meters of property, declared in the Town Council. The tax expenses is about 3€ per sq. meter.  This tax expense is divided in 5 payments throughout the whole year and is included in the electricity bill. For the owners who own property which is worth more than 400 000 euros they are obliged to pay an additional luxury tax when they complete their yearly tax declaration.
 
3. Expenses for electricity. The electricity bill in Greece is sent every 2 months. 1st bill is approximate estimation of consumption compared with the year before. The 2nd bill is final according to real consumption. Approximate expenses for 60 sq. meters apartment are 100 to 200€ per 4 months.  Up to 800 kilowatts you have to pay 0.08225€ per kilowatt, from 801 to 1000 kilowatts you must pay 0.010209€, from 1001 to 1200 kilowatts – 0.01449€, from 1201 to 1600 – 0.01619€, from 1601 to 2000 – 0.11229€.
 
4. Expenses for water. The water bill is sent one time in April and is 70€ for all apartments and in October will be sent 2nd bill with how much water each apartment has consumed, it is usually not more than 10 to 50€.
 
5. Participation in communal area.  If the apartment has (gardener, lighting, water, swimming pool etc.). Expenses are shared between all the owners of apartments in the building and usually is about 60-200€ per year.
 
6. Sewerage expenses. The sewerage tank is as a rule one for a whole building or several buildings and the sewerage truck is called to empty the tanks 1-3 times a year. Each tank to empty cost is about 70-80€ and expenses are shared between all the apartments. Usually it costs 50€ per a year.