Greece Announced to Rise Property Transfer Tax To 15% For Non-EU Buyers
Greece Government plans to Rise It’s Property transfer Taxes from 3.09% to 15% transfer tax for non-EU Property buyers and Golden Residency buyers, which will be effect from July 2027, adding up to €96,000 to a Golden Visa purchase.
The Prime Minister Kyriakos Mitsotakis announced the measure at the Thessaloniki International Fair as a part of €2.2 billion housing package, that also includes €2 billion in subsidised mortgages, decreasing electricity cost and the abolition of the ENFIA property tax in small settlements. The greece government’s aim is to ease foreign demand on residential prices.
The greece Government new rule of 15% increment applies to residential property only. And The Offices, retail units, warehouses, hotels and development land stay at the old tax rule of 3.09% for all buyers, and the Greece Golden Visa’s fund and deposit routes sit outside the measure entirely.
Every real estate investor in the Greece Golden Visa Program is a third-country national, so the new rate reaches the whole of the property route unless the final legislation carves out an exemption. And Nothing else about the Program itself changes. Source
What The Increase Means In Euros
Transfer tax is payable on the greater of the agreed price and the state-assessed objective value, and it becomes due prior to the notary’s signature on the deed.
- At the €250,000 tier, which encompasses commercial-to-residential restoration of listed buildings, the tax increases from approximately €7,700 to €37,500, resulting in an additional cost of roughly €30,000.
- If you’re in the €400,000 bracket, which is common in Greece, your tax bill jumps from about €12,400 to €60,000, which is a pretty significant increase of almost €48,000.
- If you’re looking at the €800,000 level for Athens, Thessaloniki, and the bigger islands, the tax jumps from about €24,700 to €120,000. That’s a pretty significant increase, adding around €96,000 to each deal.
The total cash required to enter the €250,000 tier increases from approximately €257,700 to €287,500, while the top tier increases from around €824,700 to €920,000.
Why The up Coming Months Matter to Save your €96,000
The Government old Rules 3.09% tax rate applies to any deed signed before the measure rule of 15% tax increment takes effect. A reservation of property, preliminary agreement or paid deposit does not fix the rate, so as a buyer you should Complete the purchase before July 2027. Not Just Make an Agreement.
Once your transfer will finalised, you’ll find the Greek tax number, a Greek bank account, checks showing where the funds are coming from, and a title check to make sure everything is in order. If the buyer can’t be there to sign, we’ll also need to create a power of attorney for them. Usually, we give it about six months to complete on an Athens purchase, but that can take longer if there’s a lot of interest. You may Contact our Experts for a Free Consultation
Demand for properties in the €250,000 route is expected to rise. The route already has a limited supply of suitable properties, with a narrow price range for converted units. The estimated number of potential conversions in the Athens metropolitan area ranges from 3,000 to 5,000 homes.
Conclusion
Greece remains one of the strongest residency propositions in Europe, and the proposed transfer tax changes the arithmetic of a purchase rather than the case for the Program. Buyers who complete before July 2027 secure the current 3.09% rate, and the fund and deposit routes are untouched whatever parliament decides.
Goldenresidencyvisa Experienced advisers have guided investors through the Greece Golden Visa Residency since the Program is launched and can manage the full process, Get in touch with our expert team to discuss your timeline and the route that suits you