Greece will raise its real estate transfer tax on buyers from outside the European Union from the current flat rate of 3% to 15%, effective January 1, 2027. Prime Minister Kyriakos Mitsotakis announced the increase on September 5, 2026, in his keynote address at the 90th Thessaloniki International Fair (TIF), the annual trade event Greek governments traditionally use to unveil major economic policy measures.
The higher rate applies to property buyers who are nationals of “third countries” outside the EU. In his speech, Mitsotakis named Turkey, China and Israel as examples of the non-EU buyer pools the measure targets, saying their interest in Greek property, while “welcome to a degree,” has made it substantially harder for Greek residents to buy homes in several parts of the country. Greece’s Real Estate Transfer Tax is currently levied at a flat 3% on the higher of the contract price or the property’s official assessed (“objective”) value, and is paid by the buyer before the sale contract is signed; EU nationals continue to pay the existing 3% rate — only third-country buyers move to 15%. Mitsotakis presented the tax increase alongside other housing-affordability measures announced in the same speech, including an expanded ENFIA property-tax exemption and a new €2 billion “My Home III” home-ownership program for young buyers.
The five-fold jump from 3% to 15% will substantially raise the upfront cash a non-EU buyer needs to complete a purchase. Using the current 3% calculation method carried over to the new rate, a €500,000 property’s transfer tax would rise from €15,000 to €75,000, and an €800,000 property’s from €24,000 to €120,000 — an additional €96,000 in tax on the same purchase. One detail still unresolved in Greek reporting: it is not yet clear how the change will treat dual nationals who hold both a third-country and an EU passport, since the enabling legislation has not yet specified which nationality will govern eligibility for the standard 3% rate.
Investment Migration Insider (IMI Daily) frames the €96,000 example specifically around an €800,000 Athens purchase of the kind typically used to qualify for Greece’s Golden Visa residency-by-investment program, and reports that Greek lawyer Alexander Risvas has questioned the legality of the tax increase. Greek City Times reports the measure is intended to curb large-scale property purchases by non-EU buyers.
References
Prime Minister of Greece – Speech by Prime Minister Kyriakos Mitsotakis at the 90th Thessaloniki International Fair / Greek City Times – Greece to Raise Property Transfer Tax to 15% for Third-Country Buyers / Investment Migration Insider – Greece to Quintuple Property Transfer Tax to 15% for Non-EU Buyers From January 2027 / Dnews – Property Transfer Tax Rises From 3% to 15% for Third-Country Nationals: A Brake on Bulk Property Purchases
