Previously announced by Prime Minister Kyriakos Mitsotakis, the proposed tax increase is now part of a government bill submitted to Parliament, with a planned implementation date of July 1, 2027.
Greece’s proposed increase in property transfer tax from 3% to 15%, first announced by Prime Minister Kyriakos Mitsotakis, has formally reached Parliament.
The measure is included in Article 16 of a government bill submitted on November 3, 2026, marking a new legislative stage for a proposal closely watched by Greece Golden Visa investors.
Under the bill, the higher rate would apply to residential property purchases by individuals who are tax residents outside the European Union and European Economic Area (EEA), for final purchase contracts signed from July 1, 2027.
Importantly, the proposed measure is based on tax residency rather than nationality. This means an EU citizen who is tax resident outside the EU/EEA could fall within its scope, while a non-EU citizen who is tax resident in Greece would not be subject to the higher rate on that basis.
What Does This Mean for Greece Golden Visa Investors?
The proposed increase could substantially raise property acquisition costs for affected investors, without changing the Golden Visa programme’s minimum investment thresholds.
For example, an €800,000 residential property purchase would incur approximately €120,000 in transfer tax at the proposed 15% rate, compared with €24,000 at the current 3% rate – an additional €96,000, assuming the full purchase price is taxable.
Beyond the potential cost increase, the timing of the title transfer is an important consideration. As Get Golden Visa’s Greece team has previously highlighted, reserving a property does not guarantee that its title transfer will be completed within the same year, particularly for development projects.
The proposed higher rate concerns residential property, rather than commercial premises or land. Its application to Golden Visa investments involving commercial-to-residential conversions will therefore require particular attention as the legislation progresses.
The bill remains under parliamentary review and has not yet become law. The final provisions, applicable exemptions and treatment of transactions already underway will need to be confirmed.
For prospective investors, the latest development reinforces the importance of reviewing acquisition costs, property eligibility and realistic title-transfer timelines together.
