Property owners planning to carry out renovations or repairs in 2025 can secure a significant tax deduction—up to €16,000. The measure, which was set to expire at the end of 2024, is being extended through a legislative provision for 2025. It offers a tax break of up to €3,200 per year for five years, from 2026 to 2030.

The deduction applies to expenses incurred during 2025 that are paid exclusively via electronic means, such as credit/debit card or bank transfer. To qualify, full and valid documentation is required (receipts or invoices) including the property and taxpayer details.

Eligible renovation work includes:

• Thermal insulation
• Replacement of doors, windows, and glass panes
• Installation or upgrading of heating, cooling, or hot water systems using renewable energy
• Work on plumbing and electrical systems

Also covered are aesthetic and functional improvements, such as:

• Roof repairs
• Interior/exterior painting
• Flooring changes
• Installation of elevators or EV charging stations

Material costs (e.g., insulation, renewable energy components, installation materials) are also eligible, but must not exceed one-third of the total expense for services.

Example:

If someone spends €16,000 in 2025, they can receive a €3,200 tax deduction per year for the next five years.
If the total spend is €10,000, the deduction is €2,000 annually.
Smaller expenses qualify for proportionate tax relief. In all cases, the maximum deduction is €16,000.

Important Conditions:

• The deduction cannot exceed the taxpayer’s income tax liability for any year.
• It cannot be refunded, carried forward, or used against other taxes.
• It cannot be transferred to a spouse or civil union partner.

Apartment Buildings and Co-ownerships:

The measure extends to common areas (e.g., lighting, elevators, external works), provided payments are made electronically by the building manager, with documentation issued per apartment, linked to its property tax ID (ATAK).

Exclusions:

• Expenses already subsidized by other programs (e.g., “Renovate” or “Energy Saving”) are not eligible.
• Nor are costs already deducted as business expenses.

In co-ownership cases, the deduction is allocated according to the percentage of full ownership.
For bare ownership or usufruct, the deduction is proportionally based on the value of the respective right over the property.

This new regulation follows a recommendation by POMIDA (the Panhellenic Federation of Property Owners) and is expected to be a strong incentive for the energy, aesthetic, and functional upgrade of thousands of old homes across the country.