Banks and loan-servicing companies in Greece will be required to pay double the annual property tax (ENFIA) this year on thousands of unused, shuttered properties held in their portfolios.

The Independent Authority for Public Revenue (AADE) will proceed with a comprehensive registration of closed properties owned by financial institutions in order to assess the increased ENFIA levy.

According to officials at the Ministry of Finance, the measure is designed to push a significant number of vacant homes back onto the market, boosting supply and helping to curb rising rental and sale prices.

Tax assessment notices reflecting the doubled ENFIA will be issued to property owners by the end of February. The provision comes into force this year and will remain in effect through 2028.

How many properties are involved
Official data show that Greek banks currently hold around 8,300 properties, while loan servicers control approximately 11,000. Of the latter, about 7,000 are residential units. The total additional tax burden resulting from the doubled ENFIA is estimated at roughly 20 million euros.

This added fiscal cost is intended to act as a pressure mechanism, encouraging banks and servicers to accelerate the utilization or disposal of their real estate stock, rather than keeping properties idle.