Greece to raise the transfer tax to 15% for non-EU buyers from 1 July 2027: what it means for the €250,000 route

What was announced, and by whom

On Saturday 5 September 2026, at the 90th Thessaloniki International Fair, Prime Minister Kyriakos Mitsotakis announced that Greece will raise the property transfer tax for buyers from third countries — countries outside the EU — from 3% to 15%. He presented it as a “disincentive”, part of a €2.2 billion housing package, and said that demand from buyers from countries such as China, Turkey and Israel had made it harder for Greeks to buy homes.

The effective date moved within days. The measure was first announced for 1 January 2027. On 8 September, the Minister of National Economy and Finance, Kyriakos Pierrakakis, stated that it will apply from 1 July 2027, adding that the government’s aim is not to take the market by surprise, and that the measure concerns natural persons, not legal entities. Deputy Minister Dimitris Markopoulos explained that the delay is meant to let transactions already under way complete.

Who pays, who is exempt

On the announced scope, the 15% rate applies to natural persons who are citizens of countries outside the EU/EEA and do not hold long-term resident status, buying residential property. Outside the scope, as stated so far:

• Legal entities — the measure is aimed at individuals;
• Ethnic Greeks (ομογενείς) and long-term residents of Greece;
• Commercial, industrial and land purchases — only residential property is affected.

The numbers

The base rate rises from 3% to 15%. With the municipal surcharge that is added to the transfer tax, the effective rate moves from 3.09% to 15.45%. At the €250,000 threshold:

Base rates, before the municipal surcharge. At the effective rates, a €250,000 purchase moves from €7,725 (3.09%) to €38,625 (15.45%) — a difference of €30,900. A €200,000 purchase goes from €6,000 to €30,000 at base rates.

What is not decided yet

Three things remain open:

1. The bill. The provision is to be included in an omnibus bill expected to go to public consultation within about a month of 8 September, and then to Parliament. The final text can differ from what was announced.
2. Transitional rules. How pre-contracts and deposits signed before the effective date will be treated has not been defined. The stated intention of the six-month delay is to let transactions in progress complete, but that intention has not yet been written into rules.
3. The residence-by-investment question. Purchases for residence by investment have not been exempted so far; the point is expressly described as pending. Market bodies intend to ask for an exemption, or an intermediate rate of around 8%, for the €250,000 category — conversions of commercial and industrial buildings and restorations of listed buildings — arguing that they create new housing stock. That is a request, not a decision.

What it means for the €250,000 conversion route

Under Law 5100/2024, as clarified by Circular 1/2026, a residential unit converted from commercial or industrial use qualifies for residence by investment at €250,000 anywhere in Greece, provided the change of use was completed after 5 April 2024 and before the application. Standard Athens property sits at €800,000 — the conversion route remains the only entry at €250,000. The transfer-tax announcement changes the cost of buying, not the eligibility of the asset.

What matters for planning is a single mechanical fact: the transfer tax is assessed and paid before the notarial deed is signed. On the announced framework, a deed completed before the effective date is taxed at today’s 3.09%; a deed completed after it, at 15.45% — unless the final bill says otherwise for this category.

For buyers of converted units at THEA Athina in Markopoulo, Attica — 1,700 converted units of 32–52 m² held by a single owning entity, Ovetana Trading Co. Ltd, whose title was acquired in 2025 at public judicial auction under Ernst & Young as court-appointed special liquidator — the sequence is the one we already publish:

• Greek bank onboarding and source-of-funds screening take 2–4 weeks and happen before any transfer;
• the notarial deed typically follows 2–3 months after reservation;
• the residence card follows the deed; the indicative end-to-end range is 6–8 months from reservation.

Read against a 1 July 2027 effective date, the conclusion is plain: a file that starts in the fourth quarter of 2026 closes its deed comfortably before the new rate; a file that starts in spring 2027 may not. Nobody should buy a property because of a tax date. But an applicant who has already decided on the route has a clear reason not to leave the bank onboarding for later.

This article is general information about Greek real estate and the investor residence framework (Law 5100/2024, as clarified by Circular 1/2026). It is not legal, tax or immigration advice. The transfer-tax measure described here is a government announcement that has not yet been enacted; its final scope, rate and transitional rules may differ. Eligibility is confirmed per applicant and per unit by independent Greek counsel; figures such as taxes and fees are indicative and change. GreeceVisaInvest is a property distribution company — we market properties eligible for residence by investment; residence applications are filed by licensed Greek lawyers and, where applicable, your migration agency.