Law and taxes
Greece Plans to Raise Property Transfer Tax for Non-EU Buyers from 3% to 15%
Announced Changes in the Real Estate Market
An important change is underway for the Greek real estate market. Kyriakos Mitsotakis’s government has announced plans to raise the residential property transfer tax for certain non-EU buyers from the current 3% to 15%.
The new measure has not yet been finalized, but if it comes into force, it will significantly change the cost of buying residential property in Greece for some foreign investors.
Who Will Be Affected by the 15% Tax?
The increased rate is not intended for all foreigners. It is set to apply to the purchase of residential property by third-country nationals who do not belong to designated exempt categories.
- EU and European Economic Area citizens are not affected by the increase.
- Exceptions are provided, particularly for certain long-term residents of Greece.
Important: This applies specifically to residential real estate. According to government clarifications, the new rate does not apply to commercial properties, land plots, or other property categories.
Calculation of Tax Costs
Currently, the property transfer tax is 3%, or effectively about 3.09% including the municipal surcharge.
After the change, the effective rate for buyers subject to the new rules will be approximately 15.45%.
| Property Value | Current Tax (~3.09%) | New Tax (~15.45%) | Difference |
|---|---|---|---|
| €500,000 | ~€15,450 | ~€77,250 | >€61,000 |
Reasons Behind the Rule Change
The government links this decision to growing foreign demand and rising housing prices. In 2025 alone, investments by third-country buyers in Greek real estate reached around €1.2 billion, of which approximately €800 million was spent on residential property.
The goal of the new measure is to reduce the pressure of foreign demand on the housing market and make housing more affordable for permanent residents of the country.
Recommendations for Buyers
Those currently considering buying an apartment or house in Greece should closely monitor the final version of the law and calculate all transaction expenses in advance.
For those interested in Athens, our article “20 Interesting Places in Athens” will be useful—it features various districts of the city, including the coast and Glyfada.
To explore the historic center, see our guide “Monastiraki in Athens”.
Greece’s real estate market may be on the verge of major changes. For non-EU buyers, tax status may now become one of the key factors when choosing a property.