Tax Increases Fivefold Starting Next July
On September 5, 2026, Greek Prime Minister Kyriakos Mitsotakis announced at the Thessaloniki International Fair that the property transfer tax for foreign citizens will increase from 3% to 15% effective July 1, 2027.
This is a significant change. An investment of €250,000 will incur approximately €30,000 in additional taxes under the new 2027 rules. In effect, the transfer tax will increase fivefold.
Who Is Affected?
This change applies only to non-EU citizens. If you are an EU citizen, you will continue to pay the old 3% tax rate.
If you are considering Greece Golden Visa, you should know: The minimum investment requirement is €800,000 in high-demand areas and €400,000 in less populated areas. However, there are still €250,000 investment options available, such as converting commercial property to residential use or restoring protected buildings.
Application Deadline: Before July 1, 2027
If you want to avoid the new 15% tax rate, you need to complete your property purchase transaction before July 1, 2027. After that date, the new tax will apply.
However, note this: The time from now until July 1, 2027 is approximately 9 months. To complete your transaction within this timeframe, you need to:
- Find a suitable property
- Complete all legal procedures
- Transfer funds and sign contracts
This is not a long window. If you have not already started the process, it will be difficult to meet the deadline.
Important Caution: Not All Investments Qualify
The Greece Golden Visa program underwent significant regulatory changes in September 2024. The old €500,000 property investment category was eliminated and replaced with a revised tiered structure.
This means if you are unsure whether your property qualifies for Golden Visa, you need to verify this. Not all properties are accepted.
Additionally, while you cannot obtain Greek citizenship by purchasing property through Golden Visa, you may qualify for citizenship by meeting legal requirements, including spending 183 days in Greece over a 7-year period, passing language, history, and culture tests.
In Summary
If you are considering Greece Golden Visa, act quickly. The July 1, 2027 deadline is approaching, and the new tax will significantly increase costs. However, make sure the property you choose truly qualifies and that you fully understand all requirements before making a commitment.