Greece will raise the property transfer tax for non‑EU buyers from the current 3 % (about 3.09 % with the municipal surcharge) to 15 % starting 1 January 2027. The change, announced by Prime Minister Kyriakos Mitsotakis at the 90th Thessaloniki International Fair, is part of a broader housing and economic package aimed at easing pressure on the domestic market, where demand from foreign investors has made home purchases more difficult for residents.
The tax is levied on the higher of the agreed purchase price or the state‑assessed value and must be paid by the buyer before the notarial deed is signed. The final implementing legislation has not yet been published.
Potential cost impact
Based on the headline rates, the transfer tax on typical investment properties would increase as follows:
- €250,000 property: €7,500 (3 %) → €37,500 (15 %)
- €400,000 property: €12,000 (3 %) → €60,000 (15 %)
- €800,000 property: €24,000 (3 %) → €120,000 (15 %)
The exact amount will depend on the taxable value and the details of the final law, but the examples illustrate how the higher tax can substantially affect the total outlay beyond the purchase price.
Golden Visa thresholds remain unchanged
The Greece Golden Visa program continues to require the following minimum real‑estate investments:
- €250,000 for selected commercial‑to‑residential conversions and restoration of listed buildings.
- €400,000 for many other locations.
- €800,000 for high‑demand areas such as Attica, Thessaloniki, Mykonos, Santorini and certain islands.
The tax increase targets the transfer tax itself, not the residency‑eligibility thresholds. However, because Golden Visa applicants are non‑EU nationals, the higher transfer tax will raise the overall cost of obtaining residency through property purchase.
Timing considerations
The existing 3 % tax regime remains in effect until the new rate is implemented. Property transactions involve several weeks or months of due diligence, financing, and legal work, so investors should begin planning well before the 2027 deadline to take advantage of the current tax structure where possible.
Key points for investors
- The 15 % transfer tax applies only to non‑EU buyers and takes effect on 1 January 2027.
- Current tax is 3 % (≈3.09 % with municipal surcharge) and is calculated on the higher of purchase price or assessed value.
- Golden Visa investment thresholds are unchanged, but the higher transfer tax will increase total acquisition costs.
- Early planning can help secure a property under the existing tax regime before the increase takes effect.
Source article: www.artoncapital.com
