Greece proposes 15% property transfer tax for non-EU buyers

Greece has proposed raising the property transfer tax for non-EU residential buyers from the current 3.09% to an effective 15.45%, a change that would dramatically increase the upfront cost of buying a home for foreign remote workers and investors. The Ministry of National Economy and Finance announced the measure on Sept. 6, 2026, with a target implementation date of July 1, 2027. The enabling legislation has not yet been submitted to Parliament.

What changed

Under the proposal, individual buyers from non-EU and non-EEA countries who are not long-term residents would pay a 15% transfer tax on residential property, rising to 15.45% once the standard municipal levy is included. Greek citizens and buyers from EU and EEA member states keep the existing 3.09% baseline rate.

The higher rate targets residential real estate only. Commercial property, hotels, storage facilities and undeveloped land stay at 3.09%. Prime Minister Kyriakos Mitsotakis framed the move as an effort to cool speculative foreign demand in local housing markets.

Importantly, third-country nationals who already hold Greek long-term resident status or second-generation permits before buying would remain exempt, keeping the lower 3.09% fee.

What it means for nomads

For non-EU remote workers planning to settle in Greece through property, the change is substantial. On a €250,000 entry-level purchase, the transfer tax would jump from about €7,725 today to roughly €38,625 — nearly €31,000 in additional cash due before the deal is finalized at the notary.

The impact is even larger at Golden Visa investment levels. On an €800,000 purchase in higher-priced areas such as Attica, Thessaloniki, Mykonos and Santorini, transfer taxes alone would come to around €123,600, on top of legal, notary and registry fees.

That matters for anyone eyeing Greece's Golden Visa, which offers residency in exchange for qualifying property investment. The proposal doesn't change investment thresholds, but it sharply raises the true cost of entry for buyers who don't already have residency status.

What to watch

Nothing is final yet. Until Parliament passes the bill and it appears in the Government Gazette, all property transactions continue under the current 3.09% rules. Buyers weighing a purchase may want to track the legislation's progress and consider whether securing long-term resident status first could preserve the lower rate. As always with pending tax measures, timelines and details can shift before a law takes effect.

Originally reported by Stamped Nomad.