Greece will raise the property transfer tax for most non-EU buyers from 3% to 15%. The higher rate applies to homes bought from 1 July 2027. With the municipal surcharge, the real cost rises from 3.09% to 15.45% of the property’s taxable value.
Prime Minister Kyriakos Mitsotakis announced the measure at the Thessaloniki International Fair on 6 September 2026. Two days later, Finance Minister Kyriakos Pierrakakis set the start date and the scope. On 5 October, the government included it in the draft 2027 budget.
Who pays the new Greece property transfer tax?
The 15% Greece property transfer tax applies to individuals who are citizens of countries outside the European Union and the European Economic Area, when they buy a home in Greece from 1 July 2027.
Three limits define its scope. It covers natural persons only, so purchases by companies fall outside it. It covers residential property only, not commercial property or land. And it applies regardless of the property’s value or whether it is the buyer’s first home.
Reports indicate that third-country nationals with long-term residence in Greece will be exempt. The Ministry of Finance is also studying further exemptions, such as purchases where an old building changes use and new homes are created. The final list has not been published.
How much more will non-EU buyers pay?
On a €500,000 home, the transfer tax rises from €15,450 to €77,250 — an extra €61,800.
Transfer tax before and after July 2027, including municipal surcharge
| Property value | Today (3.09%) | From July 2027 (15.45%) | Extra cost |
|---|---|---|---|
| €250,000 | €7,725 | €38,625 | €30,900 |
| €500,000 | €15,450 | €77,250 | €61,800 |
| €800,000 | €24,720 | €123,600 | €98,880 |
| €1,000,000 | €30,900 | €154,500 | €123,600 |
Greece calculates transfer tax on the property’s taxable value, which can differ from the agreed price. The examples above assume the two are equal.
Are British and American buyers affected?
Yes. The UK, the US and Australia supply most of Greece’s non-EU holiday-home buyers, and all three sit outside the EU and EEA.
Their preferences differ. British buyers lean towards the Ionian Islands, with 24% of their interest there. Buyers from the US and Canada favour Crete at 28% and the mainland at 25%. Almost four in ten non-EU buyers say they have a budget above €400,000.
Why is Greece raising the tax?
The government wants to cool house prices and make homes more affordable for residents. The draft budget states the aim directly: lower prices and easier access to housing for permanent residents.
Non-EU buyers invested €1.2 billion in Greek real estate in 2025, according to the Bank of Greece, and about €800 million of it went into homes. Pierrakakis named buyers from Turkey, China and Israel among those driving demand.
How is the market reacting?
Investors are pulling back; people buying to live in Greece are not. A US buyer walked away from a €3 million home in Vari, near Athens, just before completion. Developers say investors fear the higher tax will hurt resale value.
Agents expect the €250,000–€800,000 range to feel it most. For non-EU buyers in that bracket, the extra tax changes the return on the investment. In the luxury market, advisers expect buyers to shift towards company structures, since the tax applies to individuals only.
Agents also expect non-EU buyers to speed up decisions before July 2027.
What does this mean for short-term rental investors?
Buying a home to rent on Airbnb or Booking.com is exactly the kind of investment purchase the tax targets. For a property earning €30,000 a year in gross rental income, an extra €61,800 in transfer tax equals about two years of gross income before any costs.
That stacks on top of existing pressures: frozen registrations in central Athens and Thessaloniki until the end of 2027, the new national tourism spatial framework, and higher platform commissions. For non-EU investors, the time to break even on a Greek short-term rental gets longer.
Will the tax definitely happen?
Not certainly. Greece holds general elections by spring 2027, before the tax takes effect. The next government could keep, change or drop it. The measure appears in the draft 2027 budget, which makes it official policy for now.
Does this affect the Golden Visa?
Golden Visa investors are, by definition, non-EU nationals. Unless an exemption covers them, those buying homes from July 2027 would pay the higher rate on top of the Golden Visa’s €400,000 or €800,000 minimum investment. The government has not published a specific exemption for Golden Visa purchases.
Frequently asked questions
What is the new property transfer tax for foreigners in Greece?
From 1 July 2027, non-EU and non-EEA individuals buying a home in Greece pay 15% transfer tax, or 15.45% with the municipal surcharge, instead of 3.09%.
Does the 15% tax apply to EU citizens?
No. It applies only to citizens of countries outside the EU and EEA.
Does the 15% tax apply to UK buyers?
Yes. The UK is outside the EU and EEA, so British individuals buying homes in Greece from July 2027 would pay the higher rate unless an exemption applies.
Does the tax apply to companies buying property in Greece?
No. The Finance Minister said it applies to natural persons, not legal persons.
When does the 15% transfer tax start?
On 1 July 2027, according to the Finance Ministry. Elections due by spring 2027 add uncertainty.
How much is the tax on a €500,000 home?
€77,250 from July 2027, including the municipal surcharge, compared with €15,450 today.
About this article
This article is based on Greek and international reporting from September and October 2026 on the measure announced at the Thessaloniki International Fair and detailed by the Ministry of Finance, including its inclusion in the draft 2027 budget. Investment figures are from the Bank of Greece. The final legal text and list of exemptions had not been published at the time of writing. This is general information, not tax advice.
Related: Greece’s Golden Visa May Get a Multi-Property Category, Five Greek Property Markets Rising With Tourism, How Airbnb Income Is Taxed in Greece.
Greek BnB Data provides insights for property owners and investors across Greece. Brothers Consulting manages short-term rental properties in Porto Heli, Ermionida, Argolida and Thessaloniki, Greece.