The Greek government announced a plan to increase the property transfer tax from 3% to 15% for non-European Union buyers of residential real estate, effective July 1, 2027. This change was revealed by Prime Minister Kyriakos Mitsotakis in early September 2026 and confirmed by the Greek Ministry of National Economy and Finance.
Currently, property purchases by all buyers in Greece incur a transfer tax of 3% plus a municipal surcharge of approximately 3.09%. The proposed 15% tax will specifically target third-country nationals acquiring residential properties and exclude long-term residents, commercial properties, land, and other non-residential real estate types. The government’s
stated objective for this measure is to reduce residential demand from non-EU buyers, alleviate upward pressure on property prices, and improve housing availability for local residents.
Investors involved in the Greece Golden Visa program will face significant increases in transfer tax expenses under the proposed rate. For example, the current tax on an €800,000 residential property amounts to roughly €24,000, which would rise to €120,000 under the new 15% rate, marking a €96,000 increase. For a €400,000 property, the tax difference would reach about €48,000. Investments of €250,000 related to commercial property conversions or historic building restorations under certain Golden
Visa routes could see an additional tax burden of nearly €30,000 if the higher tax applies.
Timing of property transactions will become critical for prospective buyers. While the tax increase is slated for July 1, 2027, properties contracted or reserved in 2026 may still face the higher tax if title transfers occur after the proposed date. This detail is especially relevant for off-plan developments or projects where completion and transfer extend into 2027. Final legislation has yet to clarify transitional provisions, including how reservations, deposits, and preliminary agreements started before the implementation date will be treated.
The property-based Golden Visa
program is the most affected investment category by this tax increase. However, commercial property, land, and other non-residential assets remain excluded from the 15% rate. Some Golden Visa routes, such as those involving conversion of commercial properties to residential use or restoration of qualifying historic buildings, might receive different tax treatment. The Greek Ministry has not finalized whether these cases will be exempt or subject to the increased rate.
According to Greek government data, foreign direct investment (FDI) in Greek real estate totaled approximately €2.06 billion in 2025. Non-EU investors accounted for around €1.22 billion of this amount, while €214
million originated specifically from Türkiye. The Golden Visa program represents a significant segment among these non-EU investments. The increase to a 15% property transfer tax substantially raises acquisition costs for these investors, potentially impacting future volumes and investment strategies.
The final legislation detailing the new tax rate’s scope, effective date, and any transitional rules remains pending. Until publication, investors cannot determine if current reservations, deposits, or agreements will avoid the new tax. The government’s official materials do not yet specify exemptions or reduced rates for particular Golden Visa investment categories. Prospective buyers must therefore weigh transfer timing, project readiness, and
property type alongside the new tax burden in their acquisition plans.
