Greece is preparing a significant change to the way residential property purchases by non-EU buyers are taxed.
Prime Minister Kyriakos Mitsotakis initially announced plans to increase the property transfer tax from 3% to 15% for non-EU buyers, with January 2027 first referenced as the implementation timeline. The Greek Ministry of National Economy and Finance later provided further details, with the current proposal pointing to July 1, 2027.
While the proposed effective date is July 1, 2027, the final legislation will need to clarify the transitional rules, including how reservations, deposits, preliminary agreements and transactions already underway will be treated.
The measure is particularly relevant to property-based Greece Golden Visa investors, as many would fall within its scope. However, the 15% rate is not yet in force, and final legislation and transitional provisions have not been published.
What Does the Proposed Property Transfer Tax Change Mean?
Property buyers in Greece currently pay a 3% property transfer tax, or approximately 3.09% including the municipal surcharge. This is a one-off tax paid when purchasing a property, separate from the annual ENFIA property tax.
Under the current proposal, the rate would increase to 15% for residential property purchases by non-EU and non-EEA buyers. Long-term residents in Greece would be excluded, as would commercial property, land and other types of real estate.
How Much Could a Greece Golden Visa Investment Cost Under the New Rate?
If the 15% rate enters into law as outlined in the government’s official package, and no specific exemption is introduced for relevant Golden Visa residential investments, the difference could be substantial.
For an €800,000 Golden Visa property, a 3% transfer tax amounts to approximately €24,000. At 15%, that figure would rise to €120,000, a difference of around €96,000.
For a €400,000 investment, the difference would be approximately €48,000. For a €250,000 investment under the conversion or restoration routes, the difference could be approximately €30,000.
These figures do not represent current Golden Visa costs. They illustrate the potential additional tax burden if the proposed 15% rate becomes law and applies to the relevant Golden Visa investments without an exemption.
What Could Change for Golden Visa Investors?
According to the official package, the measure would apply to residential Greek property purchases by third-country nationals from outside the EU and EEA. Long-term residents in Greece would be exempt.
This means the measure is directly relevant to third-country nationals considering residential property as the basis for a Greek Golden Visa. However, how different Golden Visa property categories will ultimately be treated will become clearer once the final legislation and implementation rules are published.
For investors, the key question is therefore not simply whether the rate will be 15%, but which transactions it will apply to, from what point, and under what transitional rules.
What Should Investors Pay Attention to Now?
The proposed July 1, 2027 effective date makes transaction timing increasingly relevant for investors already considering Greece.
This is particularly important for off-plan and development projects. Selecting or reserving a property in 2026 does not necessarily mean that the title transfer will also be completed in 2026. Depending on the project, a property may not be ready for transfer until 2027.
At the same time, the supply of well-located, appropriately priced properties that meet Golden Visa requirements is not unlimited. Investors still have access to projects offered under the current tax environment, including properties with attractive pricing and investment fundamentals.
The advantage over the coming months will therefore be in identifying strong opportunities early and assessing them not only on price, but also on location, rental potential and a realistic transaction timeline.
Why Does the Title Transfer Timeline Matter?
For investors already evaluating a property or development in Greece, the latest announcement makes the expected title transfer date an increasingly important part of due diligence.
Choosing or reserving a property in 2026 does not guarantee that the title transfer will take place within the same year. This is particularly relevant for development projects where completion and title readiness may extend into 2027.
With July 1, 2027 now identified as the proposed effective date, this timeline has become more concrete. However, the government has not yet announced how reservations, deposits, preliminary agreements or transactions already in progress will be treated under the new regime.
Investors should therefore consider when a property is expected to become title-ready and when the transfer itself is realistically expected to take place from the beginning of the acquisition process.
For those already considering Greece, the coming months are an important period for reviewing available projects, pricing and transaction timelines. The objective is not to rush into an investment because of a potential tax change. It is to avoid overlooking a strong investment opportunity simply while waiting for every detail of the new legislation to be finalized.
How Could Greece’s Housing Policy Affect the Golden Visa?
The Greek government says the measure is intended to limit additional residential demand from third-country nationals, ease pressure on property prices and improve access to housing for local residents.
From a Golden Visa perspective, however, not all property investments are the same.
Certain €250,000 Golden Visa investment routes cover the conversion of commercial properties into residential use or the restoration of qualifying historic buildings. In some cases, these investments can add residential units to the housing stock rather than competing for homes already available to local buyers.
The official package specifically excludes commercial property, land and other types of real estate from the proposed higher rate. How the €250,000 Golden Visa route involving the conversion of commercial property into residential use will be treated under the new tax regime will therefore be an important point to watch as the implementation rules take shape.
How Much Real Estate Investment Comes From Outside the EU?
Official figures also provide some context for the scale of non-EU investment in the Greek property market.
According to the Ministry’s presentation, net foreign direct investment in Greek real estate reached approximately €2.06 billion in 2025, of which around €1.22 billion came from investors outside the EU. Real estate investment originating from Türkiye reached €214 million in the same year.
What Should Greece Golden Visa Investors Do Now?
The proposed 15% rate is significant enough to factor into investment planning. The July 1, 2027 date set out in the official package gives prospective investors a clearer timeline to work with. Rather than looking at the tax change in isolation, investors should consider the expected title transfer date, the nature of the property and the conditions under which the current tax regime may remain available.
This is particularly relevant for development projects, where title readiness may extend beyond July 1, 2027 and the availability of suitable properties may change over time.
A property acquired for the Golden Visa is also an investment asset. Location, fair market value, rental potential, resale prospects and title-transfer timing should therefore be considered alongside the potential tax cost.
As part of our independent advisory approach, Get Golden Visa works with more than 20 trusted local property developers in Greece, allowing us to compare locations, projects and investment models based on each investor’s budget, objectives and timeline. The aim is not simply to identify a property that meets Golden Visa requirements, but to find an option that also makes sense as an investment.
We continue to monitor the legislative and operational developments in Greece closely. If you are considering the Greece Golden Visa, you can speak with our team to review the properties currently available and assess how the timing of your investment may affect your options.
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