Enter the property details to get a rough market value estimate and compare it with the ENFIA objective value for the zone.
Estimated market value
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ENFIA objective value
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How property values work in Greece
Greek property markets are highly localised. Prices recovered strongly after the post-2008 crisis trough and by 2025 central Athens prices have in many areas recovered to or exceeded 2007 peaks. However, large areas of regional Greece remain significantly below pre-crisis levels. The dual price system (market value vs ENFIA objective value) creates complexity for buyers and sellers: transaction taxes are levied on the higher of the two, but in most urban areas the market price is the relevant base.
Example calculation
An 80 m2 apartment in good condition in a mid-ring Athens neighbourhood: estimated market value at 3,000 EUR/m2 midpoint = 240,000 EUR. Good condition multiplier (x1.00). Range: 204,000-276,000 EUR. ENFIA objective value at 1,500 EUR/m2 x 80 m2 = 120,000 EUR. Market price is 100% above the objective value, which is typical for mid-ring Athens in 2025. Transfer tax of 3% is applied on the contract price of 240,000 EUR = 7,200 EUR.
Tips and considerations
Never rely on this estimate for a purchase decision. Commission a formal valuation from a RICS-qualified or Greek Ministry of Finance certified valuer before making an offer. Check recent sales of comparable properties in the same building or street via the AADE objective value maps or from local estate agents. Factor in whether properties in the same zone have unresolved building permits, as this can significantly suppress market prices regardless of apparent zone values.
Frequently asked questions
What are typical property prices per square metre in Greece in 2025?
Property prices per square metre in Greece vary enormously by location. Prime central Athens locations such as Kolonaki and Glyfada command 3,000-6,000 EUR/m2 for quality apartments, while mid-ring neighbourhoods like Nea Smyrni and Chalandri range from 1,800-3,200 EUR/m2. Outer Athens suburbs typically price at 1,200-2,000 EUR/m2. Thessaloniki city centre sits at 1,400-2,500 EUR/m2. Tourist destinations such as Mykonos and Santorini see 5,000-12,000 EUR/m2 for desirable properties. Rural mainland Greece can be as low as 400-800 EUR/m2 for older properties in provincial towns.
What factors affect the value of a Greek property?
The key value drivers for Greek residential property are location (neighbourhood zone and proximity to coast, metro, schools), floor level (higher floors command 3-8% premiums), orientation and views, building age and condition, elevator presence, parking space, and renovation status. Energy efficiency certification (PEA - Performance Energy Assessment) increasingly affects value, with A and B-rated properties commanding premiums over lower-rated ones. Legal status is also critical: a property with unresolved building irregularities (authaireta) or outstanding ENFIA debts will be discounted by buyers or be unsaleable until regularised.
What is the difference between market value and ENFIA objective value in Greece?
The ENFIA objective value (antikeimenike axia) is a standardised administrative value set by the tax authority for each zone and property type. It is used as the tax base for ENFIA, transfer tax, and inheritance tax. In many desirable urban neighbourhoods and on popular tourist islands, the market value significantly exceeds the objective value, sometimes by 50-200%. In depressed regions or overbuilt areas, objective values can occasionally exceed what a property would fetch on the open market. Buyers should never rely solely on the objective value as an indicator of fair market value.
Can I challenge the ENFIA objective value of my property?
Yes, but the process is limited. The objective values are set by ministerial decree for each zone and are not individually negotiable for a specific property. What can be contested is the physical description of the property recorded in the tax authority database: if the surface area, floor level, or year of construction is incorrectly recorded, the owner can file a corrected E9 property declaration form to update the record, which will change the calculated ENFIA and transfer tax base. However, the underlying zone rate itself is set at the political level and requires a legislative change to alter.