Greece is preparing to raise the tax on residential property purchases for tax residents of countries outside the European Union and the European Economic Area. The new rate may affect investors who buy properties for the Greece Golden Visa.
Elena Kozyreva, Managing Director for Real Estate Projects at Immigrant Invest, explained how expenses will increase.
What will change for property buyers in Greece
The real estate transfer tax will increase from 3 to 15% for individuals who are tax residents of countries outside the European Union and the European Economic Area. This was announced by Greek Prime Minister Kyriakos Mitsotakis at the 90th Thessaloniki International Fair on September 6th, 2026[1]Source: Kyriakos Mitsotakis’ speech on the website of the Prime Minister of Greece.
On October 18th, 2026, Greece’s Ministry of National Economy and Finance published the relevant draft law, which must be put to a vote in the Greek Parliament[2]Source: Articles 16 and 48 of the Greek Ministry of Finance draft law dated October 18th, 2026, on the official public consultation portal.
The tax increase depends on the buyer’s country of tax residence, not citizenship. If the buyer is a tax resident of an EU country, Norway, Iceland, or Liechtenstein, the higher rate will not apply. For example, a US or UK citizen who is also a tax resident of an EU or EEA country will not be subject to the increased rate.
The new tax will apply to purchases of residential real estate. The increase does not apply to commercial premises, land plots, or other types of properties.
From July 1st, 2027, the 15% rate is planned to apply to final property sale and purchase agreements concluded on or after that date. The published draft does not provide exemptions for specific categories of buyers. If the law is adopted, purchasing property will also become more expensive for applicants seeking residence in Greece by investment.
The higher tax rate will not apply when residential property is purchased by a legal entity. Taxation of such transactions is determined separately.
Elena Kozyreva,
Managing Director for Real Estate projects
According to the Bank of Greece, foreign investment in Greek real estate amounted to €1.2 billion in 2025. Of this amount, around €800 million came from residential real estate[3]Source: Official real estate transaction statistics on the Bank of Greece website.
High demand for Greek real estate among investors from China, Türkiye, and Israel has led to rising prices and made it harder for Greek citizens to buy properties. By increasing the tax rate, the Greek Government will limit demand for real estate from foreign buyers and stabilise property prices.
How the tax is calculated now
In 2026, the real estate transfer tax in Greece is 3% of the taxable value of the property. The buyer pays it. A municipal fee of 3% of the tax amount is added to the main tax, so the final rate is currently 3.09%.
The tax is calculated based on the taxable value of the property. In Greece, it is determined under the Objective Determination of Real Estate Values system, taking into account the area, property characteristics, and coefficients[4]Source: Rules for calculating the objective property value under the APAA system on the website of the Independent Authority for Public Revenue, AADE.
If the price in the agreement is higher than the objective taxable value, the tax is charged on the higher amount. If the contract price is lower than the objective value, the tax base is not reduced: the calculation is based on the objective value of the property. This rule is established in Article 25 of Law No. 5219/2025, the Property Taxation Code[5]Source: Article 25 of Law No. 5219/2025, the Property Taxation Code in the TaxHeaven database.
How to get a Greece Golden Visa and applicable tax rates
Foreigners can obtain a Greece Golden Visa by buying real estate. The minimum investment amount depends on the property type and region:
- €800,000: purchase of real estate in Attica, Thessaloniki, Mykonos, Santorini, and islands with a population of more than 3,100 people;
- €400,000: purchase of real estate in other regions of Greece;
- €250,000: purchase of certain categories of properties, such as real estate converted into residential use or properties subject to restoration.
Below are calculations for the real estate transfer tax based on the Golden Visa thresholds. The calculations do not include notary, registration, legal support, and other fees. Including the municipal fee, the total tax burden will amount to 15.45%.
Tax calculation when buying property in Greece
The buyer pays the property transfer tax before signing the purchase and sale agreement. Under the standard procedure, the parties submit a real estate transfer tax declaration, after which the tax must be paid within 3 working days.
Immigrant Invest lawyers help investors choose a suitable property, calculate expenses, check legal risks, and prepare documents for obtaining a Greece Golden Visa.
