A 15% tax for non-EU buyers: what is changing in Greece and why 2027 matters

This is probably the most talked-about news among my clients this autumn. In September, at the Thessaloniki International Fair, the Greek Prime Minister announced that the tax on buying a home for buyers from outside the European Union will rise from 3% to 15%. Many people immediately asked me: "Venera, is that it, Greece is no longer for us?" No, it is not. Let's look at it calmly.

What exactly is proposed

Today, when you buy a home in Greece, you pay a property transfer tax of 3% plus a small municipal levy. Together that comes to about 3.09% of the value.

Under the new plan, for some buyers the rate will be 15%, or about 15.45% with the municipal levy. The tax is calculated on the sale price or the cadastral (so-called "objective") value, whichever is higher.

A simple example given by Greek tax publications:

• a flat for €100,000: today the tax is about €3,090;
• under the new rules: about €15,450.

That is a difference of more than €12,000. Not a small detail.

Who is affected and who is not

According to the published clarifications, the higher rate applies to private individuals who are citizens of non-EU/EEA countries buying residential property.

Not affected (based on what is known now):

• EU and EEA citizens;
• ethnic Greeks;
• foreigners with long-term resident status in Greece;
• commercial property, plots of land and industrial premises.

Reports also say that purchases through companies are not covered by the new rate, but this, like many other points, will only be fully clear from the text of the law.

When it starts

At first the date was 1 January 2027, but the Ministry of Finance then moved the start to 1 July 2027. The minister explained that the market should not be caught by surprise, and deals already underway should be able to finish calmly.

And an important detail: this is not law yet. The measure will be part of a large bill that still has to go through public consultation and a vote in parliament. Greek lawyers say clearly that changes and refinements are possible until then. Until the new rules take effect, the usual rate of about 3.09% applies.

What about the Golden Visa?

This is the main question I get. The Golden Visa is a residence permit, not long-term resident status, so as far as I understand, the exemption does not automatically cover Golden Visa investors. Migration specialists also write that it is not yet clear which rate will apply, for example, to the most affordable route from €250,000 (a building converted to residential use, or a restored listed building). This should be clarified in the draft law.

Experts disagree. Some think the news will actually push investors to act sooner. Others do not expect a big drop in demand: the Golden Visa threshold stays the same, and Greece is still one of the clearest countries for residency through property.

What this means for buyers

If you are not an EU citizen and have long been thinking about a home in Greece, this is how I would look at it:

1. There is still time, but not forever. The old rate applies until July 2027. A purchase in Greece, with document checks and paperwork, takes time, so it is better to start early, not in June 2027.
2. Count the full cost of the purchase. Not only the price of the property, but also the tax, the notary and the lawyer. After the change, the difference may be bigger than any discount you negotiate.
3. Follow the law, not the headlines. Different dates and conditions are already circulating online. The final rules will be in the official text, and I will definitely write about it when it appears.
4. Planning a Golden Visa? Check with a lawyer. Especially if you are looking at the €250,000 route.

My conclusion

There is no need to panic, but I would not put it off either. Northern Greece (Kavala, the coast, villages by the sea) is still very affordable compared with Athens and the islands. And if buying is in your plans anyway, it makes sense to do it under the current rules.

If you like, I will find options within your budget and help you plan the timing of the deal calmly.