Buying property in Greece could become significantly more expensive for non-EU citizens starting in 2027. Greek Prime Minister Kyriakos Mitsotakis announced an increase in the transfer tax on residential property purchases for buyers from non-EU countries – from the current approximately 3% to as high as 15%. He stated that strong demand from foreign buyers in certain parts of Greece is driving up real estate prices, making it difficult for local citizens to acquire homes. The higher tax is intended to discourage some non-EU buyers and reduce price pressure on the market.
What does this mean in numbers?
Here is what it would look like in practice:
- For a property worth €150,000, the current transfer tax is around €4,635, while under the proposed rate it would be approximately €22,500.
This means the purchase cost would increase by nearly €18,000.
How does this affect existing owners?
This change would not apply retroactively to individuals who already own property in Greece – they will not be required to pay the difference later. However, it could affect them if they decide to sell in the future. If non-EU buyers become less interested due to the new tax, existing owners might find it harder to secure buyers or achieve their desired selling price.
When does the increase take effect?
It is important to emphasize that this is currently only an official announcement by the Greek Prime Minister. The law has not yet been passed, and all details, exceptions, and transitional rules remain unknown. As of September 8, 2026:
- An official political announcement exists;
- No draft legislation has been published yet;
- The law has not been approved by parliament;
- It has not been published in the Greek Government Gazette;
- Exceptions and transitional rules are not yet known.
Therefore, it is too early to claim for certain that every non-EU citizen will pay exactly 15% starting January 1.
Open questions with no definitive answers yet:
- What if you hold dual citizenship (EU + Non-EU)? If you hold a passport from an EU member state alongside your non-EU citizenship, logically this tax should not apply to you, but official confirmation in the final legal text is required.
- Does it apply to land plots and commercial properties? Prime Minister Mitsotakis specifically used the word κατοικία (katoikia), which denotes residential properties (houses, apartments). Whether the new tax will extend to land plots and commercial spaces is currently unknown.
- What about residents and specific legal situations? The text of the law has yet to define how the following cases will be treated:
- Non-EU citizens who hold permanent residency or tax residency in Greece;
- Married couples where one spouse is an EU citizen and the other is a non-EU citizen;
- Property purchases made through companies registered within the EU;
- Co-ownership arrangements with an EU citizen.
What if you are buying property this autumn or have already paid a deposit?
The law has not been passed yet, and all transactions are currently carried out under the existing tax regime of 3.09%. If the proposed law is enacted, a transitional period for ongoing purchases is expected. There is currently no reason for panic or abandoning transactions – purchases are still proceeding under current conditions.
Our articles on buying a house or apartment by the sea in Greece can help you prepare as thoroughly as possible:
- Buying Property in Greece – Essential Guide: A step-by-step guide covering the entire process, taxes, costs, and owner obligations.
- Buying an Apartment or House by the Sea in Greece – Experiences: Real buyer stories, practical examples, and tips based on experience.
- 10 Biggest Mistakes When Buying Property in Greece (and How to Avoid Them):
- Property Purchase Costs in Greece: Taxes, fees, and additional expenses.
- Key Experts When Buying Property in Greece: The essential roles of the lawyer, notary, and engineer.
- How to Get an AFM (Tax Number) in Greece: A practical guide for property buyers and investors.
- Work Permits and Property Ownership in Greece: Overview of residence and work permits and how they relate to buying real estate.
- Where is the Best Place to Buy Property in Greece?: Analysis of top regions and recommendations based on budget and purpose.
- Buying Property Near Thessaloniki: Tips and recommendations focusing on the most promising areas.
- Greek Golden Visa Program: Complete overview of requirements, investment thresholds, and benefits.
- Working from Greece: Digital Nomad Guide: Requirements for obtaining a residence and work visa for digital nomads.
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