Greece to hike property transfer tax to 15% for non-EU purchasers starting 2027
Prime Minister Kyriakos Mitsotakis announced that the property transfer tax for third-country buyers will rise from 3% to 15% on Jan. 1, 2027, aiming to curb large foreign purchases of Greek real estate.
During his speech at the Thessaloniki International Fair, Prime Minister Kyriakos Mitsotakis said Greece will raise the property transfer tax for third-country purchasers from the current 3% to 15% beginning Jan. 1, 2027. The change is intended to slow the surge of large-scale purchases by foreign investors, particularly from non-EU states like Turkey, China and Israel. The tax is calculated on the higher of the agreed price or the objective tax value, so a €200,000 home would see tax rise from €6,000 to €30,000, while a €1 million property would jump from €30,000 to €150,000.
Additional costs such as notary fees and registration remain unchanged. The upcoming legislation will also clarify whether buyers holding dual citizenship, for example an Israeli with an EU passport, are subject to the higher rate. The government will outline the documentation required to verify buyer status before the law takes effect.
How the sides frame it
HIGH AGREEMENTBoth camps report the same tax increase, but left-leaning coverage emphasizes targeting Golden Visa investors and tempering a booming market, while right-leaning coverage stresses slowing large-scale foreign purchases and illustrates the tax impact.
LEFT
Frames the hike as a measure to curb a booming housing market driven by non-EU investors and to target Golden Visa investors.
RIGHT
Frames the hike as a step to slow large-scale foreign investor purchases and protect the market.
The left emphasises
- targeting Golden Visa investors
- temper a booming housing market
- investors from Turkey, China, Israel
The right emphasises
- slow the surge of large-scale purchases by foreign investors
- tax rise examples (e.g., €200,000 home tax from €6,000 to €30,000)
- clarify dual-citizenship buyers
