The Greek government plans to raise the property transfer tax for buyers from outside the European Union from the current 3% to 15%.
Prime Minister Kyriakos Mitsotakis announced the proposal at the Thessaloniki International Fair. According to Greek media, the higher rate is expected to take effect on July 1, 2027, although implementation details are still being finalised.
The measure is intended to limit the impact of foreign demand on property prices and make housing more affordable for Greek citizens.
The financial impact on non-EU buyers would be significant. For a property worth €300,000, the tax would rise from €9,000 to €45,000. For a €500,000 property, it would increase from €15,000 to €75,000.
It remains unclear how the rules would apply to non-EU nationals with permanent residence in Greece, mixed-nationality couples and jointly purchased properties.
Market representatives have also questioned whether the higher tax will reduce housing prices. Some experts argue that expanding the supply of newly built homes could be a more effective way to improve affordability.
Another option under consideration is purchasing property through a company registered in Greece. However, this approach may involve additional legal and residency requirements and would not be suitable for every buyer.