Net rental yield in Greece: what is left after tax and costs
Last updated: · Sources · Adapted in English from our Greek guide. Read the Greek version
“A yield of 4.20%”: twelve months of rent over the value. That is gross yield, the money before tax, ENFIA and costs.
This guide shows, with sources, what is really left: gross yield minus tax at your own bracket, ENFIA and expenses.
Gross and net yield
Gross yield ignores every cost, so it is always higher than net yield. An owner who compares it with a deposit rate or a bond compares two different things.
- Tax, at your own bracket. The property is taxed at the rate of the bracket its rent falls into, after your other rental income.
- ENFIA. A tax on ownership, paid every year, even with the property empty.
- Expenses. Maintenance, insurance and building charges that fall on the owner.
One apartment, step by step
An apartment of 100 m² worth €200,000 (zone price €2,000/m², 12 years old, 3rd floor), let for €700 a month all year, with €800 of expenses, 2026 brackets, rent paid through a bank.
- Gross rent: €700 × 12 = €8,400.
- Standard deduction 5%: −€420, so taxable income is €7,980.
- Tax, as your only rental income (bracket 15%): €1,197.00.
- €8,400.00 − €1,197.00 (tax) − €343.81 (ENFIA) − €800.00 (expenses) = €6,059.19 net.
- Gross yield: 8,400 / 200,000 = 4.20%.
- Net yield: 6,059 / 200,000 = 3.03%. A gap of 1.17 percentage points.
The same apartment, for an owner who already collects €12,000 a year in rent from another property, is taxed €1,935.00 instead of €1,197.00, and its net yield falls to 2.66%.
How many years to earn back the value
A rough comparison measure: value divided by net annual income. In the example, 200,000 / 6,059 ≈ 33 years, with today’s rent and costs.
Legal basis and sources
- Rental income brackets 2026: Article 8 of Law 5246/2025 · standard deduction 5%: Article 39(3)(a) of the Income Tax Code (Law 4172/2013).
- ENFIA: Law 4223/2013, as in force and codified in the Property Tax Code (Law 5219/2025).
The net yield of your property
Enter your own value, rent, ENFIA and expenses, with tax at your own bracket.
Calculate your net yieldWith your own figures, no sign-up.
What people ask about rental yield
What is the difference between gross and net yield?+
Gross yield is a year’s rent divided by the property’s value, before any cost. Net yield is what is left after income tax, ENFIA and running costs, divided by the same value.
Why does the tax depend on my other rent?+
Greek rental income is taxed on your total from all properties, at progressive rates. Rent from another property fills the lower brackets first, so this property’s rent is taxed at your marginal rate.
Is ENFIA part of the calculation?+
Yes. ENFIA, Greece’s annual property tax, is due every year whether the property is let or empty, so it reduces the net yield.
How many years until the property pays for itself?+
A rough comparison measure is the value divided by the net annual income. It ignores price changes, financing and vacancies, so treat it as a comparison between properties, not a forecast.
Read next
- Greek rental income tax in 2026: The new brackets, the standard deduction and the rule on collecting rent through a bank, with worked examples.
- How ENFIA is calculated: Greece’s annual property tax, step by step: zone price, floor area, floor, age, reductions and surcharge.