Stegastiko daneio Calculator Greece

Market overview

Greek mortgages are dominated by Eurobank, Alpha Bank, National Bank of Greece (NBG), and Piraeus Bank — the "Big Four" that emerged consolidated from the 2010-2018 debt crisis. Most loans are Euribor-linked variable rates with bank margins of 1.5-2.5%, though fixed-rate products (3, 5, 10 years) gained share in 2022-2025. Greece's post-bailout recovery (return to investment grade in 2023) restored mortgage market growth — total stock around €40 billion in 2026 vs €100 billion pre-crisis.

Why 4.25% is the typical rate

4.25% reflects a typical 5-year fixed mortgage rate for a salaried Greek borrower at 80% LTV in early 2026, after the ECB rate-cut cycle. Variable Euribor-linked products price ~50 bps below the fixed teaser. The "Spiti Mou" (My Home) state-subsidized scheme provides cheaper rates (1-2.5%) for first-time buyers in specific income brackets.

Tax & regulatory notes

Mortgage interest is not deductible for owner-occupied homes in Greece (the deduction was eliminated during the 2010-2018 austerity reforms). Property transfer tax is 3.09% of objective value. VAT of 24% applies to new-build properties first transferred after 2006 (suspended since 2020 for residential properties under the "Aktioplaisio" framework). ENFIA (uniform real-estate ownership tax) applies annually based on property value and zone. Foreign buyers face the same rules as Greek nationals for EU citizens; non-EU buyers from specific countries can buy without restrictions, while a few countries (e.g., Turkey) face reciprocity-based limitations.