Greece launches mass audit of 6,000 property transactions in hunt for hidden money sources

Greece's tax authority AADE has initiated a sweeping review of residential property buyers. The impetus is straightforward: property transfer tax revenues rose 14 per cent in the first quarter of 2026, signalling market recovery, and the state is determined to ensure full compliance.

Every buyer must now substantiate the source of funds. Cash transactions exceeding €500 are prohibited. Transactions between relatives face heightened scrutiny, as these are frequently used to understate tax liability or conceal true property values.

A note for foreign owners: holding Greek property does not exempt you from vehicle registration requirements. Permanent residents must re-register foreign-registered vehicles under Greek plates. The sole exception applies if you can demonstrate non-residency in Greece through documentation of overseas property ownership, bank accounts and utility bills spanning at least six months.

The takeaway: those considering Greek real estate should prepare comprehensive documentation. Transparency is now the standard, and there is no circumventing it.

Source: GreekCityTimes Real Estate