Greek renovation tax credit: up to €16,000 over five years

The rule covers energy, functional and aesthetic upgrades to buildings carried out from 1 January 2024 to 31 December 2026. It does not deduct the cost from your income. It cuts the tax itself by an amount equal to the eligible cost. The cut doesn’t come all at once: it is spread in five equal annual shares, and in each year it cannot exceed the tax you owe.

€16,000 is both the maximum eligible cost and the maximum tax credit, across all years together. Spread over five years, that is at most €3,200 a year. Anyone working with the old 40% sees at most €6,400, which is 2.5 times less than they are entitled to.

Spending more than the cap doesn’t raise the credit. A renovation with an eligible cost of €25,000 also gives at most €16,000. Nor can one year’s credit exceed that year’s tax: if your annual tax is below €3,200, the credit for that year is cut to the amount of tax.

• Electronic payment. Card, bank transfer or instant payment. A cost paid in cash doesn’t count, however correct the invoice.
• Invoices in your name. An invoice to your Greek tax number (AFM) for every job and every purchase of materials.
• A provider established in Greece. The contractor or supplier is tax-resident in Greece or has a permanent establishment there.
• Materials up to 1/3 of services. Materials count only up to 1/3 of the value of the services. Anything above that is left out.

Keep invoices and proof of payment for each property from the first day. That is what your accountant asks for when the tax return comes round.

An apartment renovation with €12,000 of labor and €4,000 of materials, all paid electronically and invoiced to the owner’s tax number.

• Materials limit: €12,000 / 3 = €4,000. Materials come to €4,000, so they count in full.
• Eligible cost: €12,000 + €4,000 = €16,000, exactly at the cap.
• Tax credit: €16,000, or €3,200 a year for five years, as long as each year’s tax is high enough.

Now a different mix: €9,000 of labor and €5,000 of materials, €14,000 in total.

• Materials limit: €9,000 / 3 = €3,000. Materials come to €5,000, so only €3,000 counts.
• Eligible cost: €9,000 + €3,000 = €12,000. The other €2,000 of materials doesn’t count.
• Tax credit: €12,000, or €2,400 a year for five years, instead of €14,000 if all the materials counted.

The rule applies to costs from 1 January 2024 to 31 December 2026, under Joint Ministerial Decision A.1153/2025 (Government Gazette B 5933/05.11.2025). Before you commission the work, confirm two things with your accountant:

• That your cost falls inside the window. The dates of the invoice and the payment are what count; work invoiced after 31 December 2026 doesn’t count unless the window is extended again.
• That your tax is high enough to absorb up to €3,200 a year. The credit never exceeds each year’s tax, and anything left over is not refunded.

If you let property as a business: the same cost cannot be deducted both as a business expense and as an Article 39B credit.

Anakainizo 2026 (“I Renovate 2026”), officially the Home Renovation program, is a grant, not a tax cut. It covers homes with up to 120 m² of main living space (150 m² for families with three or more children who will live there), a building permit dated no later than 31 December 1990 and energy class C or lower. That covers vacant homes (unused in 2024 and 2025) that will become a main home or be let long-term as a main home, and homes the applicant already lives in. The grant is 80% (income category I) or 70% (category II), rising to 95% and 85% with top-ups. It is paid up to €300 per m² of main living space and up to €36,000 per home, including VAT, plus up to €2,500 at 100% for engineers, the energy performance certificate, the Electronic Building ID and permits. The renovated home, vacant or owner-occupied, must remain a main home for at least five years after the work is completed, with no short-term rental, subletting or free use by others.

Eligibility certificates closed on 31 July 2026 for owner-occupied homes and on 30 September 2026 for vacant ones. Only people who already hold a certificate can apply for funding. The certificate is not an approval: eligibility is checked again. In subsidized programs, costs incurred before you are accepted usually don’t qualify, so approval comes first and the work after. The terms are those set by the decisions in the sources below. Announcements about the second stage are on the program page on stegasi.gov.gr (in Greek).