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.