Greece 15% Property Transfer Tax 2027: What Foreign Property Buyers Need to Know
Foreign buyers already considering residential property in Greece now have a potentially important timing issue to factor into their plans.
The Greek government has announced an increase in the property transfer tax on certain residential purchases by third-country buyers from 3% to 15%. Including the municipal levy applied to the transfer tax, the effective burden would rise from approximately 3.09% to 15.45%.
The currently reported implementation date is 1 July 2027.
For a buyer purchasing a residence with a taxable value of €500,000, the difference between the current and announced rates could exceed €60,000. At €700,000, the difference could exceed €86,000.
Why timing matters: Buyers who are already planning a purchase should not wait until the final weeks before the expected change. Legal checks, tax registration, banking arrangements, contract preparation and notarial completion can take time, especially in an international transaction.
The measure has been officially announced, but the final implementing legislation and transitional rules have not yet been published. Buyers should therefore plan early while avoiding assumptions about who will ultimately be covered or which stage of a transaction will determine the applicable tax rate.
What Is Changing?
The current standard property transfer tax is 3% of the taxable property value.
The government has announced that this will increase to 15% for certain residential purchases by third-country buyers.
According to the government announcement, the measure concerns residential property and does not extend to commercial properties, plots of land or other non-residential real estate.
Greek citizens, EU and EEA citizens and certain other categories of residents are expected to remain outside the higher rate. The final law will establish the precise eligibility rules.
How Much Could the New Tax Cost?
The difference becomes much clearer when translated into actual purchase costs.
| Taxable Property Value | Current Approx. Tax 3.09% | Announced Approx. Tax 15.45% | Potential Additional Cost |
|---|---|---|---|
| €300,000 | €9,270 | €46,350 | €37,080 |
| €500,000 | €15,450 | €77,250 | €61,800 |
| €700,000 | €21,630 | €108,150 | €86,520 |
A buyer purchasing a residence with a taxable value of €500,000 could therefore face more than €60,000 in additional transfer tax if the higher rate applies.
Important: These examples are illustrative. The actual amount payable will depend on the property's taxable value, the buyer's status and the final provisions of the legislation.
Who Could Be Affected?
The measure is aimed at certain buyers from third countries, meaning countries outside the European Union and European Economic Area.
This could include buyers from markets such as:
- United Kingdom
- United States
- Israel
- Turkey
- China
- United Arab Emirates
The government has identified several categories that are expected to remain outside the higher rate, including Greek citizens, EU and EEA citizens, certain long-term residents, recognised refugees and some other qualifying residents.
Government material refers to both citizenship and tax residence when describing the measure. The final legislation will therefore need to establish exactly how buyers with dual nationality, Greek residence permits or more complex residency situations will be treated.
Foreign buyers should confirm their individual position with a qualified Greek tax or legal adviser.
Why Is Greece Introducing the Higher Tax?
International capital now represents a significant part of the Greek real estate market.
Foreign direct investment in Greek real estate reached approximately €2.06 billion in 2025. Around €1.22 billion, or approximately 59%, came from countries outside the European Union.
The government has presented the higher transfer tax as part of a wider effort to reduce external pressure on the residential housing market and improve access to housing for permanent residents.
Greek Property Prices Are Still Increasing
The tax announcement comes while residential prices in Greece continue to rise.
According to the Bank of Greece, apartment prices increased by 5.7% year-on-year nationally in the first quarter of 2026.
In Thessaloniki, the increase reached 6.4%, while new apartments nationally recorded growth of approximately 6.0%. Thessaloniki had already recorded average apartment price growth of 9.7% during 2025.
For buyers already planning a purchase, this creates two separate cost pressures: property prices may continue to change, while transaction costs could rise sharply if the announced tax applies.
That does not justify rushing into the wrong property. It does mean that postponing a decision has a potentially measurable financial cost.
Why the 1 July 2027 Date Matters
The currently reported implementation date is 1 July 2027.
That date should not yet be treated as an enacted statutory deadline because the final implementing legislation still needs to be published. It also remains unclear how transactions already underway will be treated.
Under the current system, property transfer tax is declared and paid before the final property transfer contract is signed. What has not yet been confirmed is whether transitional protection will apply to buyers who have already:
- Reserved a property
- Paid a deposit
- Signed a preliminary agreement
- Begun legal due diligence
- Entered another stage of the purchasing process
A reservation alone should therefore not be assumed to secure the current tax rate.
For buyers who are already intending to purchase, the practical issue is lead time. An international transaction can involve:
- Obtaining a Greek tax number
- Legal and title checks
- Technical due diligence
- Banking arrangements
- Preparation of contracts
- Transfer-tax declarations
- Notarial signing
- Registration of ownership
Transactions with additional legal, financing or residency requirements may take longer.
The closer a buyer gets to the expected implementation date, the less room there may be for delays, additional checks or documentation issues.
What Does This Mean for Golden Visa Buyers?
The proposed transfer-tax increase is separate from the Greek Golden Visa programme.
It does not change the Golden Visa investment thresholds or the residence permit itself.
However, many Golden Visa investors are third-country buyers. Those who fall within the scope of the new tax could therefore face a higher total acquisition cost even though the Golden Visa investment requirement remains unchanged.
The key distinction is between:
- The minimum property investment required for residency
- The total cost of acquiring the property
These are not the same amount.
What Should Foreign Buyers Do Now?
The announcement creates a reason to plan earlier, not to make a rushed purchase.
Confirm Whether the Higher Rate Could Apply to You
Citizenship, residence status and other personal circumstances may affect the final tax treatment.
Calculate the Full Acquisition Cost
Look beyond the advertised property price. Transfer tax, legal fees, notarial expenses and other acquisition costs should all form part of the budget.
Begin Legal Checks Early
Legal due diligence is essential, particularly for international buyers. Starting earlier leaves more time to resolve title, documentation or technical issues before they affect a transaction timeline.
Focus on Properties That Fit Your Timeline
Location, construction quality, legal status, energy efficiency, functionality and long-term value remain more important than any tax deadline.
However, buyers who already intend to complete a purchase before the expected change should factor the full transaction timeline into their property selection.
Property Opportunities in Northern Greece
For buyers already researching Northern Greece, there are different types of residential opportunities across Chalkidiki and Thessaloniki.
Darion Complex - Nikiti, Chalkidiki
Darion Complex is a completed residential community located only 100 metres from the Aegean Sea in Nikiti.
The development combines contemporary Mediterranean architecture with two swimming pools, landscaped grounds, an outdoor gym, children's playground, barbecue facilities and professional property maintenance.
With only a small number of residences remaining, buyers can visit the development, experience the location and inspect the completed construction before making a decision.
Horizon Kalyves Apartments - Kalyves, Chalkidiki
Horizon Kalyves Apartments offers a different type of opportunity: a genuine seafront location.
The boutique development comprises only 8 residences positioned directly on the coastline in Kalyves, Chalkidiki.
For buyers specifically seeking immediate access to the sea, Horizon Kalyves combines a rare location with contemporary residential design and private outdoor living.
Thelxis Residence - Kalamaria, Thessaloniki
For buyers looking for an urban residence, Thelxis Residence is currently under construction in Kalamaria, Thessaloniki.
The development comprises 33 apartments with 1, 2 and 3 bedrooms on a privately owned 2,950 sq.m. plot.
Residents will have access to a fully equipped indoor gym, leisure and social areas, landscaped green spaces, a private playground, barbecue facilities, parking, storage and property maintenance services.
Its location provides convenient access to Kalamaria's seafront, schools, shops, services and public transportation.
Frequently Asked Questions
Is the 15% property transfer tax already in force?
No. The standard property transfer tax currently remains 3%. The higher rate has been announced but has not yet entered into force.
When is the new rate expected to apply?
Current reporting places the intended implementation date at 1 July 2027. The final legislation still needs to confirm the effective date and transitional provisions.
Will every foreign buyer pay 15%?
No. The measure targets certain third-country buyers purchasing residential property. EU and EEA citizens and several other categories are expected to remain outside the higher rate.
Does it apply to every type of real estate?
No. The government announcement concerns residential property and excludes commercial property, plots and other non-residential real estate.
Does it change the Golden Visa programme?
No. The transfer-tax measure does not itself change Golden Visa investment thresholds. It could, however, increase the total acquisition cost for some qualifying buyers.
Final Thoughts
For foreign buyers already considering residential property in Greece, the announced tax increase changes the importance of timing.
The difference between an effective transfer-tax burden of approximately 3.09% and 15.45% can amount to tens of thousands of euros. The currently reported 1 July 2027 implementation date may appear distant, but international property transactions can take time and the final transitional rules are still unknown.
The strongest reason to act earlier is not pressure to buy. It is to preserve options.
Starting the process earlier gives buyers more time to compare properties, complete due diligence, understand their tax position and deal with delays without being forced into a last-minute decision.
Considering Buying Property in Greece?
Explore Darion Complex in Nikiti, Horizon Kalyves in Chalkidiki and Thelxis Residence in Kalamaria, or contact our team to discuss properties that fit your preferred location, budget and purchasing timeline.
Speak with Solid Development about available property in Greece.
Disclaimer: The information provided above is for general informational purposes only and does not constitute legal, tax, immigration or investment advice. The 15% property transfer-tax measure has been announced but final implementing legislation and transitional provisions have not yet been published. The 1 July 2027 implementation date is currently reported following the government announcement and should be confirmed against the final legislation once enacted. Prospective buyers should obtain independent advice from qualified Greek legal and tax professionals before executing any property transaction.