Prepared for BUYGREECE® · Information reviewed September 7, 2026

Buying property in Greece could become substantially more expensive for some international buyers. The announced increase in the base property transfer tax from 3% to 15% would add €60,000 to the base tax on a home with a €500,000 taxable value. That is a change in the acquisition cost, not a prediction that the property itself will become more valuable.

Prime Minister Kyriakos Mitsotakis announced the higher rate at the Thessaloniki International Fair. This guide explains the announcement, illustrates its potential cost and identifies the questions buyers should resolve before committing. Prime Minister’s announcement

What is Greece’s current property transfer tax?

The Greek tax authority, AADE, states that the standard property transfer tax is 3% of the taxable value. A municipal levy equal to 3% of the main tax takes the combined charge to 3.09%. The buyer is responsible for payment. Exemptions and transaction-specific treatment can change the amount payable. AADE: real estate transfer tax

This is a transaction tax. It is separate from ENFIA, Greece’s annual property ownership tax. An increase in transfer tax should therefore not be described as a new annual 15% charge on existing homeowners. AADE: annual property taxation

What has been announced—and who could be affected?

The government’s detailed explanation describes a 15% base rate, or 15.45% including the municipal levy, for covered residential purchases. Commercial premises, plots and other property categories are excluded from the described measure.

The explanation identifies exceptions involving Greek citizens, qualifying people of Greek origin, EU/EEA citizens and qualifying long-term residents. It also references tax residence in third countries. Consequently, a passport alone is not enough to determine eligibility: the enacted definitions and the buyer’s circumstances must be checked. Government policy explanation

For Americans, Australians, Britons and Israelis considering a Greek home, the practical question is whether their particular purchase falls within the measure. Do not assume every person from those countries receives identical treatment.

How much more could buying a home in Greece cost?

The examples below apply each base rate to the same taxable value, with no exemption or relief assumed.

• €300,000 taxable value: Base tax at 3%: €9,000; base tax at 15%: €45,000; additional base tax: €36,000.
• €500,000 taxable value: Base tax at 3%: €15,000; base tax at 15%: €75,000; additional base tax: €60,000.
• €750,000 taxable value: Base tax at 3%: €22,500; base tax at 15%: €112,500; additional base tax: €90,000.
• €1,000,000 taxable value: Base tax at 3%: €30,000; base tax at 15%: €150,000; additional base tax: €120,000.

Including the municipal levy, the €500,000 example becomes €15,450 versus €77,250: an additional €61,800. These are calculations from the stated rates, not a personalised tax assessment.

Legal, notarial, registration, financing and other applicable transaction costs remain separate. Ask for an itemised acquisition budget rather than applying one headline percentage to an asking price.

A rise from 3% to 15% is a 12-percentage-point increase, a 400% increase in the tax, and a rate five times as high. Those descriptions are mathematically equivalent; “a 15% increase” is not.

When is the higher tax expected to start?

Reporting published on September 7, following the government’s detailed presentation, identifies July 1, 2027 as the planned start. Earlier coverage cited January 2027. The newer date should replace the January deadline in purchasing discussions, subject to confirmation against the enacted legislation. September 7 reporting

This article does not treat an announcement as proof that the final law has been enacted. Buyers need confirmation of the effective date, transitional provisions and the legal event that determines which rate applies. A deposit or reservation should not be assumed to secure the current rate.

Will the change make Greek homes more affordable?

The government links the measure to housing demand and pressure on permanent residents’ access to homes. Government explanation

The following is our assessment of possible market effects, not a forecast based on a statistical model.

Some purchases may move forward. Buyers already prepared to proceed could try to complete before the applicable deadline. Others may wait for legal clarity. Neither response guarantees a nationwide buying rush.

Negotiations may become tougher. A buyer with a fixed total budget may offer less for the property to accommodate the tax. Sellers may accept, wait or sell to an unaffected buyer. The tax does not automatically produce an equivalent reduction in asking prices.

The effect may differ by neighbourhood and property type. A luxury coastal residence and a modest apartment serving local households do not necessarily compete for the same buyers. Affordability also depends on incomes, finance and available housing supply.

New development could face a tradeoff. If sales slow, some developers may delay future projects. Reducing demand for existing homes could help certain local buyers, while a weaker construction pipeline could limit future supply.

What should Athens Riviera and island buyers check?

Whether searching in Glyfada, Voula, Vouliagmeni or on a Greek island, compare the full acquisition cost, the home’s suitability and the strength of its documentation.

For a new build, obtain written confirmation of the VAT or transfer-tax treatment of that transaction. Do not assume every development is taxed identically. Construction status, title, permits, delivery terms and the developer’s obligations deserve attention alongside the tax calculation.

For an existing home, verify title, planning compliance, registered area, condition and any restrictions relevant to the intended use. A sea view cannot resolve a documentation problem.

A practical checklist before committing

Ask your Greek lawyer, notary and tax adviser to establish:

1. Your status: how citizenship, tax residence and any qualifying residence status affect the purchase.
2. The property’s treatment: its legal category, taxable value and applicable tax regime.
3. The complete budget: tax, levy and other acquisition costs, including any exemption actually available.
4. The timing rule: which event determines the tax rate and whether transitional protection applies.
5. The due diligence: title, planning, technical checks and financing, without compressing essential work to meet a headline deadline.

Frequently asked questions

Is the announced 15% tax an annual charge?

No. The announcement concerns transfer tax on a covered purchase. Annual ownership taxation is a separate obligation.

Does every American buying a home in Greece face the higher rate?

That should not be assumed. The final scope, exceptions and the buyer’s circumstances determine treatment. Obtain an individual assessment before relying on a nationality-based headline.

Would a €500,000 home cost €60,000 more in tax?

The base-tax difference is €60,000 if €500,000 is the taxable value and the full rates apply. Including the municipal levy, the illustrated difference is €61,800. Other costs and any relief are separate.

Should I buy before the planned change?

Consider timing only after confirming that the measure applies to you and that the property meets your needs. A potential saving can be outweighed by overpaying, buying the wrong home or accepting unresolved legal issues.

Plan your Greek property search with a complete budget

BUYGREECE® can be the starting point for exploring homes and comparing locations. Browse properties in Greeceand define your priorities, budget and timetable. Have your independent legal and tax advisers confirm the treatment of the specific purchase before you commit.

Editorial note: This article distinguishes published policy announcements, reported implementation timing, illustrative calculations and market analysis. It does not claim legal or tax-professional review. Information reviewed September 7, 2026; general information only.

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