Important Change for Property Investors in Greece: Transfer Tax Set to Increase
A significant potential cost increase is on the horizon for non-EU citizens purchasing residential property in Greece.
As of 1 July 2027, the property transfer tax is expected to increase from the current rate of approximately 3.09% to 15%.
This change is not limited to Golden Visa investors. It is expected to affect third-country nationals purchasing residential property in Greece, including those investing for rental income, a second home, long-term investment, or residency purposes.
How Much Could the Difference Be on a €250,000 Property?
To illustrate the potential impact, let’s consider a residential property valued at €250,000.
Under the current rate of approximately 3.09%:
Property value: €250,000
Current transfer tax: approximately €7,725
Transfer tax at 15%: €37,500
Potential difference: €29,775
This means that the transfer tax alone could potentially increase by €29,775 on a €250,000 property.
For third-country nationals planning to purchase property in Greece, this makes the timing of an investment an increasingly important consideration.
Who Could Be Affected?
The planned change concerns non-EU citizens purchasing residential property in Greece.
Therefore, it is not limited to investors applying for the Greek Golden Visa.
It may be relevant to third-country nationals who are considering purchasing property in Greece for:
Investment purposes
Rental income
A second home
Long-term capital investment
Residency purposes
Golden Visa eligibility
Whether you are purchasing a property purely as an investment or as part of a Golden Visa strategy, the potential change in transfer tax should be taken into account when calculating your total acquisition costs.
Why Is This Also Important for Golden Visa Investors?
The Greek Golden Visa remains one of the most attractive residency-by-investment programs in Europe. However, it is important to clarify that the potential transfer tax increase is not a Golden Visa-specific change.
Golden Visa investors purchasing qualifying property in Greece may be affected by the same transfer tax rules as other non-EU property buyers.
For investors considering properties around the €250,000 investment level, a potential additional cost of €29,775 could have a significant impact on the overall investment budget.
Look Beyond the Property Price
When purchasing property in Greece, the purchase price is only one component of the total acquisition cost.
Buyers may also need to consider transfer tax, notary fees, legal fees, land registry or cadastral costs, and other transaction-related expenses.
For this reason, investors should evaluate the total cost of acquisition, rather than looking at the advertised property price alone.
If the proposed tax increase comes into effect, purchasing the same property after the new rate applies could require a significantly higher overall budget.
Could Good Investment Opportunities Sell Faster?
The potential tax increase may also influence buyer behaviour.
If more non-EU investors bring their property purchases forward to avoid higher transaction costs, demand for competitively priced properties could increase.
This may be particularly relevant for properties that combine:
Attractive locations
Competitive prices
Strong rental potential
Golden Visa eligibility
Flexible payment plans
High-quality construction or renovation
As a result, some of the most attractive opportunities currently available on the market could become more limited as demand increases.
Planning to Invest in Greek Property?
The proposed change could have a significant impact on the total acquisition cost for non-EU citizens purchasing residential property in Greece.
A potential difference of €29,775 on a €250,000 property demonstrates why investors should consider the timing of their purchase alongside property prices and investment potential.
Whether you are considering Greece for a residential investment, rental income, a second home, or a Golden Visa, it is important to assess the current market and understand all associated acquisition costs before making a decision.
Explore Current Property Investment Opportunities in Greece
If you are considering investing in Greek real estate, our team can help you explore current property opportunities based on your budget, investment objectives, and preferred location.
Contact us to learn more about available properties, acquisition costs, investment locations, and Golden Visa-eligible opportunities in Greece.
