Greece will raise the tax on buying a home to 15% for non-EU buyers

In brief

• From 1 July 2027 the transfer tax on homes bought by individuals from third countries will rise from 3% to 15%. With the municipal levy, from 3.09% to 15.45%.
• EU and EEA citizens are not affected. Exemptions were announced for people of Greek descent and long-term residents.
• Companies, commercial property and land are outside the increase.
• Status on 10 October 2026: announced and built into the 2027 budget plans, the law is not yet passed.
• On a €400,000 home the tax rises from €12,360 to €61,800.

What the government announced

In short: from 1 July 2027, 15% instead of 3% for individuals from third countries buying homes. Announced by the prime minister and the finance ministry in September 2026.

The prime minister announced the measure at the 90th Thessaloniki International Fair. The next day the Ministry of National Economy and Finance gave the details. The date first mentioned was 1 January 2027; the ministry then moved the start to 1 July 2027 so that transactions already under way can close.

The aim is stated plainly: to reduce additional housing demand from third-country buyers that pushes up prices for local residents. The increase is part of a housing package together with subsidised mortgage programmes for Greeks.

What this means for you. Until 1 July 2027 the old rate applies. A deed signed before a notary before that date is taxed at 3% under the announced terms.

What the whole purchase costs

In short: the tax is not the only cost, but after 1 July 2027 it becomes the largest after the price itself.

Take an example. A third-country investor buys an apartment for €400,000 outside Attica and Thessaloniki, the golden visa minimum for most regions. Today the transfer tax with the municipal levy is €12,360. After 1 July 2027, at the announced rate, it is €61,800. The difference of €49,440 is roughly a year's rent on a good apartment in Athens.

On top of the tax come the notary, the lawyer, cadastre registration, the €2,000 residence permit fee and health insurance for each applicant. These costs do not depend on the tax, but the tax becomes the main item of the budget. For an €800,000 property the difference between the old and new rate is almost €99,000.

An important detail: the tax is calculated on the higher of the contract price and the cadastral value. Writing a below-market price into the contract does not help: the base will not fall below the cadastral value.

What this means for you. Compare not apartment prices but the full cost of entering the programme before and after 1 July 2027. The tax difference may exceed any discount from the seller.

Who is affected

In short: citizens of non-EU and non-EEA countries buying homes in their own name. EU citizens, companies, commercial property and land are not affected.

The new rate was announced for individuals who are citizens of countries outside the EU and the European Economic Area, buy a home and do not hold long-term resident status. For everyone else the rate stays at 3%.

The most delicate point is long-term residents. A golden visa investor permit and long-term resident status are different documents. Whether the law will treat a golden visa holder as exempt will only be clear from the text of the bill. For now it is reasonable to assume that a new investor from a third country pays 15%.

What this means for you. If you are an EU citizen, the measure does not concern you. If you buy from a third country for the first time, budget the deal at 15.45% after 1 July 2027.

How to make it before 1 July 2027

In short: allow two to four months for the deal, so start no later than early 2027.

A purchase in Greece is not done in a week. The AFM tax number and bank account are opened by power of attorney, then the property is chosen, checked in the cadastre and for debts, funds are transferred with proof of source, and only then the deed is signed before a notary. The tax is paid before signing. If any step drags on, the deal may slip into July 2027 and fall under the new rate.

A separate question is deals still in progress on 1 July 2027: a deposit paid, a preliminary contract signed, but no notarial deed. How the law treats them will be clear from its text. For now it is reasonable to assume the date of the notarial deed is what counts.

What this means for you. If the decision on Greece is already made, do not leave choosing a property until spring 2027. A margin of two or three months protects against the new rate better than any rush.

Law or not yet

In short: for now it is an announcement and a line in the 2027 budget plans, not an enacted law.

The honest answer: not yet. The rate, the date and the group of buyers have been named officially, and the measure is built into Greece's 2027 budget plans. But the bill with precise definitions has not yet been passed by parliament. The law will answer the key questions: who counts as a person of Greek descent, how many years make a long-term resident, and how preliminary contracts and deposits will be treated.

What this means for you. Make purchase decisions on the announced terms, but check the final rate against the text of the law before signing.

Greek golden visas in 2025

In short: twice as many permits were issued, a quarter fewer new applications came in. The tax will cool demand further.

The tax increase lands on a market that has already changed. In 2024 Greece raised the thresholds: €800,000 in Attica, Thessaloniki, Mykonos, Santorini and the large islands, €400,000 elsewhere, and €250,000 only for converting commercial buildings and restoring listed ones.

The ministry's figures show a double effect. Almost twice as many permits were issued in 2025 as in 2024, as applications filed before the threshold rise came through. New applications fell by a quarter. In the first half of 2026 there were 2,551 against 4,553 a year earlier, down 44%. Almost half of valid permits are held by Chinese nationals.

What this means for you. The golden visa market has already become more expensive and quieter. The 15% tax continues that line: a third-country investor will pay more both at entry and on purchase.

Who the tax hits hardest

In short: first of all the buyers it is aimed at.

The finance minister named the countries whose demand presses on the housing market: Turkey, China and Israel. According to the Ministry of Migration, almost half of valid golden visa permits are held by Chinese nationals. For them 15% is a noticeable addition to an already higher threshold.

The tax hits least those who buy commercial property or convert a commercial building into housing at the €250,000 threshold: the increase was announced for homes only. Another option that will be discussed is buying through a company. Under the announced terms companies are outside the new rate, but the golden visa conditions via a company and the company's own taxes must be calculated separately.

What this means for you. If a commercial property or a company purchase suits you, cost that option before deciding. But do not build a strategy on a loophole before the law text is published.

What this means for Russians

In short: Russians with one passport are not affected; the programme has been closed to them since 2022. Those applying with a second passport are.

Greece has not accepted first-time golden visa applications from Russian citizens since 2022. With a second citizenship the route is open, and these are exactly the clients who will face the new rate: a Vanuatu, Caribbean or Argentine passport is also a third-country passport. Only an EU passport gives an exemption.

There is no reason to panic. On a €400,000 home the difference is about €49,000, roughly 12% of the price. Unpleasant, not a disaster. More important is that those already heading for Greece now have a clear deadline of 1 July 2027. For those still thinking, I would calculate both scenarios, before and after that date, and decide on the numbers.

Sergey EvdokimovManaging Partner, BRIDGES

Where buyers go wrong

In short: four mistakes that cost more than the tax.

1. Assuming a residence permit exempts you. A golden visa and long-term resident status are different things.
2. Going by the deposit date. Under the announced terms the notarial deed date is what counts.
3. Understating the contract price. The tax is still calculated on at least the cadastral value.
4. Buying in a rush in June 2027. An unchecked property can cost more than the tax difference.

What to check before deciding

In short: five questions for yourself and the deal.

What to do now

• If a purchase in Greece is planned, aim for a notarial deed before 1 July 2027.
• Allow time: a tax number, a bank account, property checks and the transfer take weeks.
• Watch the text of the law: it will set the exemptions and the rules for deals in progress.
• Count the full budget: threshold, tax, notary, lawyer, the €2,000 fee and insurance.
• Holders of a Russian passport only first need a second passport.

How this material was prepared

Prepared by Sergey Evdokimov, Managing Partner at BRIDGES. Rates and conditions were checked against the official presentation of the Greek Ministry of National Economy and Finance and the draft 2027 budget, statistics against Ministry of Migration and Asylum reports, on 11 October 2026. Tax calculations and deal timings are ours.

• Announcement of the increase - speech by the Greek prime minister at the 90th Thessaloniki International Fair on 6 September 2026.
• Rate, the 1 July 2027 date, the group of buyers and exemptions - official presentation of the Greek Ministry of National Economy and Finance.
• Inclusion in the 2027 plans - Greece's draft 2027 budget.
• Golden visa statistics - monthly reports of the Greek Ministry of Migration and Asylum for 2024-2026.
• Tax calculations - our calculation at the announced rates.
• All facts checked on 10 October 2026.

Related: Greek golden visa, Vanuatu passport and Greek residence.