The Greek government plans to raise the property transfer tax on residential property purchases by non-European Union (EU) and non-European Economic Area (EEA) buyers from the existing rate of approximately 3% to 15%. Currently, the property transfer tax including municipal surcharge is around 3.09%. This change targets third-country nationals acquiring residential real estate in Greece.
The policy excludes several categories from the proposed 15% tax, including long-term residents of Greece, commercial properties, land, and other types of real estate. The measure specifically applies to residential property purchases by non-EU and non-EEA individuals. Details on exceptions or transitional arrangements remain pending.
Under the current 3% rate, the transfer tax on an €800,000 property amounts to approximately €24,000. With the proposed 15% level, the tax would jump to €120,000 for the same property, an increase of about €96,000. For a €400,000 investment, the additional tax would be roughly €48,000, while a €250,000 acquisition could face an increase near €30,000 under the 15% rate.
The Greek Ministry of National Economy and Finance has indicated a proposed effective date of July 1, 2027, for this higher transfer tax. However, final legislation and the specific transitional provisions—such as how reservations, deposits, or agreements made before
the effective date will be treated—have not been published.
This upcoming tax hike is particularly pertinent for Greece Golden Visa investors, many of whom are non-EU nationals purchasing residential properties. Some Golden Visa routes involving the conversion of commercial properties into residential units or the restoration of historic buildings may receive different treatment under the new tax rules, but details remain unclear. The timing of title transfer relative to the July 2027 deadline will be a crucial factor in tax liability.
Prime Minister Kyriakos Mitsotakis originally announced the plan to increase the property transfer tax for non-EU buyers. The Greek
government intends the measure to alleviate demand pressure on residential properties from third-country nationals, help moderate property prices, and improve housing affordability for local residents, according to official statements.
In 2025, net foreign direct investment in Greek real estate reached approximately €2.06 billion. Of this amount, around €1.22 billion originated from investors outside the EU. Investment from Türkiye accounted for €214 million during the same year.
Investors should carefully consider the timing of their property title transfers, given the July 1, 2027 planned implementation of the 15% tax. Projects that begin with reservations or deposits before 2027 may still incur
the higher tax if the final title transfer occurs after the effective date. Due diligence on estimated completion and title-ready dates is increasingly important.
Final details about the implementation, exemptions, or possible special treatment for properties qualifying under Golden Visa categories are not yet available. Investors are advised to monitor developments closely, recognizing the new tax will significantly affect transaction costs and investment planning in Greek residential real estate.
