Greece’s New 15% Property Transfer Tax for Third-Country Buyers: What Changes in 2027

Buying residential property in Greece could become significantly more expensive for certain buyers from countries outside the European Union under a new tax measure announced by the Greek government at the 2026 Thessaloniki International Fair.

Under the proposed framework, the standard property transfer tax for qualifying residential purchases by certain third-country individuals is expected to increase from 3% to 15%.

When the existing municipal levy is added, the effective tax burden would rise from approximately 3.09% today to 15.45%.

This is a substantial change. But it is equally important to understand what the measure does not mean.

It is not a blanket 15% tax on every foreign buyer. It does not apply to every type of property, and several categories of buyers are expected to remain outside its scope.

For international buyers considering property in Greece, the key question is no longer simply how much a property costs. Increasingly, the relevant figure is the total acquisition cost based on the buyer’s individual status.

What is the property transfer tax in Greece today?

Under the current system, property transfer tax in Greece is calculated at 3% of the property's taxable value.

A municipal levy equal to 3% of the main transfer tax is added to this amount, bringing the effective overall burden to approximately 3.09%.

For a residential property with a taxable value of €300,000, the current calculation would be approximately:

Main property transfer tax: €9,000

Municipal levy: €270

Total transfer tax: €9,270

This amount represents transfer tax only.

The total cost of acquiring property in Greece can also include notary fees, legal expenses, Land Registry or Cadastre charges, real estate agency fees and other transaction-related costs.

What would change under the new 15% tax?

According to the measures announced by the Greek government, certain residential property purchases by third-country individuals would be subject to a 15% main transfer-tax rate instead of the current 3%.

Once the municipal levy is included, the effective rate becomes 15.45%.

For the same property with a taxable value of €300,000, the calculation would change to:

Main property transfer tax: €45,000

Municipal levy: €1,350

Total transfer tax: €46,350

Compared with the current €9,270, this represents an additional tax cost of €37,080.

For an international buyer, that difference can materially alter the budget available for the property itself and, in investment cases, the economics of the entire transaction.

How much could buyers pay at different property values?

The impact becomes progressively larger as the taxable property value increases.

These figures illustrate the transfer-tax difference only and should not be interpreted as the complete acquisition cost of each transaction.

A €500,000 property, for example, does not simply represent a €500,000 capital requirement. Depending on the buyer’s status and the final rules, the announced tax regime could add more than €60,000 to the transfer-tax bill compared with today's system.

That changes how properties should be compared.

Who is expected to be affected?

One of the most important distinctions is that the announced tax increase does not apply to all foreign property buyers.

Based on the framework presented so far, the higher rate is aimed at certain natural persons from third countries, meaning countries outside the European Union and European Economic Area.

EU and EEA citizens are not expected to fall within the scope of the increased rate.

Exceptions have also been announced for certain categories, including long-term residents in Greece and other individuals who benefit from specific treatment under existing Greek property and first-home rules.

This means that simply knowing that someone is a foreign buyer is not enough to determine their tax position.

Nationality, residence status and potentially tax residence may all become relevant.

The final legislation will therefore be essential before definitive conclusions can be drawn for individual buyers.

Does the new tax apply to every type of property?

No.

The announced increase is specifically aimed at residential property.

The government has stated that commercial properties, plots of land and other non-residential categories are not intended to fall under the same 15% regime.

This distinction is particularly important for investors.

A residential apartment, an office, a retail property and a plot intended for future development should not automatically be treated as equivalent transactions under the proposed framework.

The legal classification and use of the asset at the time of acquisition could therefore become an increasingly important part of property due diligence.

Does the measure apply to companies?

The government’s current description of the measure refers to acquisitions by natural persons rather than legal entities.

That means purchases made through companies appear to sit outside the specific framework as it has currently been presented.

However, this should not be interpreted as a reason to create a company purely to avoid the increased tax.

Corporate ownership of Greek real estate can involve different taxation, accounting requirements, operating costs, ownership implications and future tax consequences.

The correct purchasing structure depends on the objectives and circumstances of each buyer and should be assessed with qualified legal and tax professionals.

When is the new property transfer tax expected to start?

The announced implementation date is 1 July 2027.

This makes transaction timing particularly important for third-country buyers already considering residential property in Greece.

However, a buyer should not assume that merely starting negotiations or signing an initial reservation before that date will automatically secure the current tax treatment.

The final legislation will need to define the transitional provisions.

Among the issues that require clarification are transactions that begin under the current system but reach final completion after the new regime becomes effective.

Reservation agreements, preliminary contracts and final purchase deeds may have different legal and tax implications.

Until the legislation is published, buyers considering transactions close to the implementation date should avoid relying on assumptions about which tax rate will ultimately apply.

What does the new tax mean for Golden Visa investors?

The announced increase in property transfer tax is separate from the Greek Golden Visa programme.

It does not, by itself, change the existing Golden Visa investment thresholds or the core conditions of the residency programme.

It can, however, have a major impact on the total capital required for certain Golden Visa property transactions.

An investment may still meet the eligibility requirements of a particular Golden Visa route while becoming substantially more expensive to acquire because of the higher transfer tax.

There is also an important unresolved issue involving properties that undergo a change of use, such as commercial or industrial spaces converted into residential property.

Because the proposed 15% rate targets residential purchases while excluding commercial property, the legal status and use of the property at the time of transfer may be decisive.

Further clarification will be required before these cases can be treated as settled.

Golden Visa eligibility and property acquisition taxation should therefore be assessed as two separate parts of the transaction.

Why is Greece introducing the measure?

The government has linked the proposed tax increase to its broader housing policy.

The stated objective is to limit part of the external demand for residential property that may contribute to upward pressure on housing prices and reduce availability for local residents.

Figures presented during the government's policy briefing indicated that net real estate investment from non-EU countries reached approximately €1.2 billion in 2025, with around €800 million estimated to relate to residential property.

Significant sources of demand include buyers from countries such as Türkiye, Switzerland, Israel, the United States, the United Kingdom, China and the United Arab Emirates.

That does not mean, however, that the new tax will automatically lead to falling property prices.

Housing prices are influenced by multiple factors, including domestic demand, available supply, new construction, financing conditions, location and the specific category of property being sold.

A reduction in one source of foreign demand may affect certain segments more strongly than others.

Prime urban areas, investment-oriented apartments, properties traditionally marketed internationally and parts of the Golden Visa market could react differently from standard residential markets dominated by local buyers.

What should a third-country buyer check before searching for property?

For international buyers, the purchasing process should increasingly begin with buyer qualification rather than with property listings.

Before determining the realistic budget for a Greek residential property, the buyer should establish:

nationality and residence status,

whether the proposed higher tax could apply,

whether an exemption may be available,

whether the purchase will be made personally or through another legal structure,

the legal classification of the property,

the intended timing of completion,

the property's taxable value,

and the expected total acquisition cost.

This allows the buyer to establish a genuine property budget before entering negotiations.

A buyer who has €500,000 available in total, for example, may no longer be in the same position as someone whose property-search budget alone is €500,000.

That distinction becomes increasingly important when acquisition taxes can differ by tens of thousands of euros.

Why Total Acquisition Cost matters more than asking price

Property searches typically begin with a price filter.

€200,000.

€350,000.

€500,000.

€800,000.

But the asking price does not tell the full financial story.

Two buyers purchasing the same €500,000 property could potentially face very different acquisition costs depending on their legal and residency status.

For buyers subject to the announced increased rate, transfer tax alone could reach €77,250 instead of approximately €15,450 under the existing system.

The relevant question should therefore become:

How much capital will I actually need to complete this purchase?

This is a better basis for comparing properties, determining affordability and evaluating an investment.

What remains uncertain?

The most important limitation at this stage is that the measure has been announced and politically detailed, but the final legislative framework has not yet been completed.

The final law will need to determine precisely:

who is included,

which buyers qualify for exemptions,

how nationality, residence and tax residence are treated,

how transitional transactions are handled,

and how more complex property classifications or changes of use are assessed.

Until the legislation is finalised, international buyers should treat the 15% rate as an announced future measure rather than a tax rule already in force.

For transactions planned during 2026 or the first half of 2027, this distinction is particularly important.

What the change means for international property buyers in Greece

If implemented as announced, the increase from 3% to 15% will represent one of the most significant recent changes affecting certain international residential property buyers in Greece.

For some transactions, the additional cost could exceed €100,000.

That does not necessarily make a Greek property purchase economically unattractive.

But it does mean the decision needs to be calculated differently.

Property value, buyer status, asset type, transaction timing and total acquisition costs should now be assessed together rather than separately.

For buyers who may fall within the new regime, understanding these factors before selecting a property can prevent a substantial gap between the expected purchase budget and the actual capital required to complete the transaction.

ReWize supports buyers throughout the property search and acquisition process, helping them identify suitable properties based on their actual requirements and purchasing position.

Where legal or tax interpretation is required, buyers should obtain advice from qualified professionals before making a binding commitment.

The property price is only one part of the purchase. Under the announced 2027 framework, understanding the full cost of acquisition becomes essential.