+357 2284 6000
+65 6330 6380
GREECE PLANS TO RAISE PROPERTY TRANSFER TAX TO 15% FOR NON-EU BUYERS
Property buyers from outside the European Union could face a considerably higher cost when purchasing real estate in Greece from 2027.
Greek Prime Minister Kyriakos Mitsotakis has announced plans to increase the country’s property transfer tax from 3% to 15% where the buyer is a national of a country outside the European Union. The proposed measure is expected to take effect from 1 July 2027.
For international investors considering property as a route to the Greece Golden Visa, this is a development worth following closely.
For the moment, the change has been announced by the Greek Government but no detailed legislation has yet been published. This means that some important questions, including possible exemptions, transitional provisions and the precise treatment of existing Golden Visa applicants, remain unanswered.
What is already clear, however, is that a move from 3% to 15% would materially change the acquisition costs for many non-EU property investors.
WHAT HAS GREECE ANNOUNCED?
During the Thessaloniki International Fair in September 2026, Prime Minister Mitsotakis announced that Greece intends to increase the property transfer tax for purchasers from “third countries” outside the European Union or European Economic Area.
The existing property transfer tax rate is 3% of the taxable property value, payable by the buyer. Greek tax authorities also apply a municipal levy of 0.9% to the transfer tax, bringing the total tax burden to 3.09%.
Under the announced measure, the base rate applying to non-EU buyers will rise to 15% from 1 July 2027. Adding the municipal levy, the total tax burden will become 15.45%.
The Government has presented the measure as part of a broader effort to address pressures within the Greek domestic housing market.
WHY IS THIS PARTICULARLY IMPORTANT FOR GOLDEN VISA INVESTORS?
The property route under the Greek Golden Visa program is specifically designed for third-country nationals.
Greece currently applies three property investment thresholds under the Golden Visa program.
For properties in the Attica region, Thessaloniki and all islands with a population exceeding 3,100, the minimum qualifying investment is generally €800,000.
In other areas of Greece, the general minimum property investment is €400,000.
A separate €250,000 route remains available in qualifying circumstances, including properties converted from commercial to residential use and investments involving listed buildings that are restored or reconstructed.
If the 15% transfer tax is introduced across all these property routes without a Golden Visa exemption, the additional acquisition cost would be significant.
HOW MUCH COULD THE PROPOSED TAX INCREASE COST?
The difference becomes easier to appreciate when applied to the principal Golden Visa property thresholds.
| Property purchase price | Transfer tax at 3.09% | Transfer tax at 15.45% | Increase |
| €250,000 | €7,725 | €38,625 | €30,900 |
| €400,000 | €12,360 | €61,800 | €49,440 |
| €800,000 | €24,720 | €123,600 | €98,880 |
These figures show why the announcement deserves attention from anyone currently considering the Greek Golden Visa through an investment in real estate.
An investor purchasing an €800,000 property, for example, could face €98,880 in additional transfer tax if the transaction falls under the proposed 15% regime rather than the current 3% rate.
DOES THIS MEAN INVESTORS SHOULD PURCHASE BEFORE 2027?
Not necessarily, but transaction timing now becomes an important consideration.
A Golden Visa property purchase should never be made solely to beat a tax deadline. The suitability of the property, location, investment criteria, residence objectives and the applicant’s wider circumstances remain far more important.
That said, somebody who was already intending to invest in Greek property during the coming months may now have an additional reason to proceed with the property purchase sooner rather than later.
WHAT REMAINS UNCLEAR?
Several details could substantially affect how important the proposed change ultimately becomes for Golden Visa applicants.
The announcement refers broadly to buyers from third countries outside the EU and EEA. On that basis, Golden Visa investors could fall within its scope. However, the Government has not yet published the detailed law setting out whether particular categories of investment will receive different treatment.
Also, what happens to transactions already in progress? This will be particularly important towards the end of 2026.
An investor may have paid a reservation deposit or entered into a preliminary agreement without completing the legal transfer of the property. Whether such a purchaser remains subject to the existing regime will depend upon any transitional provisions contained in the final legislation.
It should be noted that the transfer tax is payable just before the notarial contract is signed for the property’s purchase. It can take anything between 2 and 6 months between the time a property is found and the notarial contract is signed.
ARE THERE ANY EXEMPTIONS TO THE TAX INCREASE?
It has been confirmed that the transfer tax increase will not apply to Greek citizens or to long-term residents of Greece.
The increased tax will also not apply to properties bought through a company or to commercial property transactions. It is solely aimed at residential properties.
THE €250,000 GOLDEN VISA ROUTE DESERVES PARTICULAR ATTENTION
Greece offers the €250,000 Golden Visa route for certain investments that can bring idle commercial property back into productive residential use.
For example, a qualifying commercial property may be converted into residential accommodation, subject to the program’s requirements. A €250,000 minimum threshold can also apply to qualifying listed buildings requiring restoration or reconstruction.
These options are different from simply buying an existing residential property, which is possible under the €400,000 and €800,000 investment thresholds.
With the proposed 15% transfer tax, the total transfer tax on a €250,000 acquisition would rise from €7,725 to €38,625.
Prospective applicants looking specifically at the €250,000 route should therefore follow the forthcoming legislation closely.
THERE IS ANOTHER PROPERTY TAX ISSUE APPROACHING AT THE END OF 2026
The proposed transfer-tax increase is not the only tax development property buyers should have on their radar.
Purchases of new properties in Greece are ordinarily subject to VAT. The Government has issued three suspensions of this VAT charge since 1 January 2020. The current suspension expires on 31 December 2026, with property transfer tax applying instead. No announcement has yet been made as to whether the VAT suspension will be extended beyond 31 December 2026. If the suspension is not extended, this could result in new property purchases being subject to VAT at the current rate of 24%.
This is separate from the newly announced 15% transfer-tax measure, but the dates make the interaction between the two particularly relevant.
Investors considering newly-built property should therefore look at the complete tax treatment of their intended purchase rather than considering the transfer-tax announcement in isolation.
DOES THE ANNOUNCEMENT CHANGE THE ATTRACTION OF THE GREECE GOLDEN VISA?
The proposed tax increases the potential cost of property acquisition, but it does not change the underlying residence benefits of the Greek Golden Visa program.
A qualifying investment can provide a permanent Greek residence permit, which the investor will be entitled to keep indefinitely, provided the relevant qualifying investment continues to be maintained.
The program also continues to provide several property routes at different investment levels.
The question for investors will not simply be whether the Golden Visa program remains attractive, but whether property remains the appropriate investment route, which type of property makes the most sense, and when the transaction should take place.
Those answers will differ from one investor to another.
WHAT SHOULD PROSPECTIVE INVESTORS DO NOW?
For anyone already considering a Greek Golden Visa through property, there is no reason to panic or rush into an unsuitable investment. There is, however, good reason to begin planning earlier.
Investors considering a purchase during 2026 may now wish to:
- establish which Golden Visa property threshold is most relevant to them;
- calculate the full acquisition cost under both the existing and proposed tax regimes;
- allow sufficient time for property due diligence and completion;
- avoid relying on the assumption that an incomplete transaction will qualify for the existing rate;
- monitor the publication of the final legislation and any transitional provisions; and
- obtain appropriate tax and legal advice before committing to a transaction.
The difference between 3% and 15% is substantial enough that the tax treatment should now form part of the financial planning for a prospective Greek property purchase.
PLANNING A GREECE GOLDEN VISA APPLICATION?
The announcement makes advance planning particularly important for investors considering Greek property over the next 8 months.
Mercury Consulting assists international clients considering the Greece Golden Visa, including understanding the available investment options and coordinating the different stages involved in the residence process.
With our office in Athens and many years of experience in assisting international investors with Greek Golden Visa applications, our team can help you assess the available routes and understand the practical steps involved before you proceed with an investment.
If you are considering applying for a Greece Golden Visa or would like to discuss how the proposed 2027 changes could affect your plans, contact Mercury Consulting for an initial consultation.
Disclaimer: This article reflects information available as at September 2026. The proposed 15% property transfer tax has been announced by the Greek Government, but detailed implementing legislation was not available at the time of publication. The information above is provided for general informational purposes and should not be treated as legal, immigration or tax advice.