Property purchases in Greece could become significantly more expensive for buyers from outside the European Union, following a major new housing measure announced by Prime Minister Kyriakos Mitsotakis.
Speaking at the Thessaloniki International Fair, Mitsotakis announced that Greece plans to increase the property transfer tax for buyers from non-EU countries from 3% to 15%.
The measure is aimed at addressing Greece’s housing affordability problem and reducing pressure from foreign investment on property prices.
The Prime Minister specifically referred to buyers from countries such as Israel, China and Turkey as examples of third-country purchasers who would fall within the new rules.
How big is the difference?
Under the existing system, buyers generally pay a property transfer tax of around 3%.
Under the announced measure, a non-EU buyer purchasing a property for €300,000 could see the basic transfer tax rise from approximately €9,000 to €45,000.
For a €500,000 property, it would rise from approximately €15,000 to €75,000.
The change therefore represents a substantial additional cost for non-EU nationals considering buying property in Greece.
What about EU citizens?
The announcement specifically targets buyers from countries outside the European Union, meaning EU citizens are not included in the proposed higher rate.
However, several important details have not yet been clarified.
For example, it is not yet clear how the rules will apply to:
- Non-EU citizens who are already legal residents of Greece
- Non-EU spouses or family members of EU citizens
- Properties purchased jointly by an EU and non-EU spouse
- Companies or other legal entities purchasing property
- Any possible exemptions or transitional arrangements
- Transactions already underway when the new rules take effect
These details are expected to become clearer once the government publishes the legislation and implementing rules.
Is the 15% tax already in force?
No.
The change has been announced by the Greek government, but the detailed legislation has not yet been published.
The Prime Minister presented the measure as part of the government's broader economic and housing package, much of which concerns measures for 2027. The precise effective date and transitional provisions for the higher property transfer tax still need to be confirmed.
Anyone currently considering a property purchase in Greece should therefore avoid assuming that the 15% rate already applies — but non-EU buyers should take the announcement seriously when planning future purchases.
Expats Greece will update this article as soon as the legislation is published and the rules for residents, EU-family members and joint purchases become clear.
