Greece is preparing to raise the property transfer tax for non‑EU buyers from the current 3 % to 15 %, a change that could add up to €96,000 to the cost of an €800,000 residence‑by‑investment property. The proposal, announced by Prime Minister Kyriakos Mitsotakis at the Thessaloniki International Fair in September 2026, is not yet law, but it raises immediate questions for investors seeking a Greece Golden Visa.
Proposed property‑transfer‑tax increase
- Current rate: 3 % of the taxable value, plus a municipal surcharge.
- Proposed rate for non‑EU buyers: 15 % of the taxable value.
- Illustrative impact: On an €800,000 purchase, the transfer tax would rise from roughly €24,000 to €120,000, an additional €96,000 if no exemption applies.
The government frames the measure as a response to pressure on the Greek housing market from third‑country buyers. Final legislation, transitional provisions, and the exact scope of the tax remain to be defined.
Implications for the Greece Golden Visa
The Golden Visa program, launched in 2013, grants renewable residence permits to non‑EU investors who meet specific investment thresholds, most commonly through real‑estate purchases. The tax proposal does not alter the minimum investment amounts, but it could substantially increase the overall outlay required to qualify.
Current investment thresholds
| Location / Property type | Minimum investment |
|---|---|
| High‑demand areas (Greater Athens, Greater Thessaloniki, Mykonos, Santorini, larger islands) | €800,000 |
| Other areas of Greece | €400,000 |
| Conversion projects (commercial/industrial to residential) and certain historic buildings | €250,000 |
Qualifying residential units must be at least 120 m², cannot be used for short‑term rentals, and must meet size and use criteria set by the program.
Additional costs to consider
- Transfer tax: Potentially up to 15 % for non‑EU buyers.
- Municipal charges: Calculated on top of the transfer tax.
- Legal and notary fees: Typically 1–2 % of the purchase price.
- Ongoing property taxes and maintenance: Vary by location.
Benefits of the Greece Golden Visa (aside from tax considerations)
- Residence permit for the investor and eligible family members, without requiring Greek tax residency.
- Asset ownership rather than a donation, allowing for rental income or capital appreciation.
- Schengen mobility after obtaining a residence permit, though citizenship remains a separate, longer process.
Practical advice for prospective investors
- Monitor legislative developments – The tax increase is still a proposal; any exemptions for Golden Visa purchases could be introduced before the law is enacted.
- Calculate total acquisition costs – Include the highest possible transfer tax, municipal fees, legal expenses, and ongoing property costs to assess affordability.
- Verify property eligibility – Ensure the chosen real estate meets the program’s size, use, and location criteria.
- Consider timing – Completing a qualifying purchase before the tax change takes effect could lock in lower transaction costs, but rushing without full due diligence carries risks.
- Engage qualified professionals – Use experienced legal and tax advisors familiar with Greek real‑estate law and the Golden Visa program to navigate the evolving regulatory environment.
While the proposed tax hike could raise the financial barrier to obtaining a Greece Golden Visa, the program’s core advantages—residence rights for investors and families, and ownership of a tangible asset—remain unchanged. Investors should weigh the potential increase in upfront costs against these benefits and stay informed about the final legislative outcome.
Source article: apexcapital.one
