Greece proposes increasing property transfer tax to 15% for non-EU buyers

Greek Prime Minister Kyriakos Mitsotakis has announced plans to increase the property transfer tax for certain non-EU buyers from 3% to 15%. The measure is intended to address housing affordability by curbing foreign demand in key areas, forming part of a broader €2.2 billion housing package.

Finance Minister Kyriakos Pierrakakis clarified that the new rate is expected to take effect on July 1, 2027. The tax will apply specifically to natural persons purchasing residential property from countries outside the European Union and the European Economic Area. Purchases made through companies are expected to fall outside this scope.

Exemptions have been proposed for EU and EEA citizens, qualifying long-term residents, and ethnic Greeks (omogeneis). While the effective tax burden for targeted buyers could rise to approximately 15.45% including municipal levies, the specific legislative details regarding the definition of diaspora status and the treatment of certain Golden Visa conversion routes remain to be finalized through upcoming public consultations.