Greece Property Investment for Residency: Rules, Tax, Rental Ban

Reviewed by Jane Katkova, Founder & Licensed CICC Consultant· Last updated: September 2026

Greece property investment for residency follows a clear procedure: acquire a qualifying home at the threshold for its zone and file. The obligations that most often create cost apply after completion: no short-term rental (€50,000 fine, permit revoked), 3.09% transfer tax or 24% VAT, annual ENFIA, and a proposed 15% transfer tax for non-EU buyers from 2027.

Greece golden visa property rules: key facts (2026)

• Residential Property Qualifies. one unit of at least 120 m² at €400,000 / €800,000; conversions and listed restorations at €250,000
• Ownership in Your Name or Your Company. a company must be wholly owned by you; joint purchase by spouses is fine
• Transfer Tax of 3.09%. on resale property and on new builds where the developer applies the VAT suspension (to 31 December 2026)
• VAT of 24%. on a new build only if the developer has not opted into the suspension; confirm per project
• Annual ENFIA Property Tax. state property tax; typically a few hundred to a few thousand euros a year depending on zone and size
• Short-Term Rentals Banned. €50,000 fine and revocation; long-term tenancies allowed, income taxed in Greece
• Resale Permitted at Any Time. the permit ends unless you reinvest at the current threshold; capital gains tax on individuals is suspended through 2026
• 2027 Proposal for a 15% Transfer Tax. for non-EU individual buyers of homes; announced 6 September 2026, not yet law

Greece property investment: €400,000 purchase costs, 2026 and 2027

Government and professional costs on a standard-tier home. Lawyer and notary fees vary; we quote per transaction.

Most new builds sold in 2026 use the VAT suspension and attract 3.09% instead of 24%; we confirm with the developer in writing before you commit. The 15% rate is a government announcement of 6 September 2026 with an effective date reported as 1 January or 1 July 2027; it is not enacted. Figures verified 27 September 2026.

Greece golden visa property obligations after completion

No short-term rental. A golden visa property cannot be listed on Airbnb, Booking or any short-term platform while you hold the permit. The penalty is a €50,000 fine and revocation. Long-term tenancies (a year or more) are allowed and are how most non-resident owners cover ENFIA and upkeep. Rental income is taxed in Greece on a scale from 15% to 45%; Americans and Canadians credit it against home tax under the treaties.

Holding or reinvestment. The permit is tied to the investment. Sell and you must reinvest at the threshold in force on the day you sell, not the one you bought at, or the permit ends at the next renewal. A buyer who resells to another golden visa applicant passes on the eligibility if the property still meets the rules.

ENFIA every year. Greece's state property tax is assessed on the objective value and paid in instalments; a €400,000 home in the Peloponnese is typically under €1,500 a year, an Athens equivalent higher. Municipal charges arrive through the electricity bill.

Capital gains. Tax on individuals' property gains has been suspended year to year and is suspended through 2026. Americans still report the gain to the IRS; Canadians who remain resident report it to the CRA.

Payment discipline. Every euro of the price must move by bank transfer from an account in your name. A deposit paid in cash, a payment from a relative or a company account, or a price on the deed lower than the price paid, each disqualifies the application. Greek notaries now record the payment method in the deed.

Buying property in Greece for residency: benefits and risks

Advantages

• You own a home, not fund units. Unlike Portugal (funds only) or Hungary (fund only), the asset is a house you can use, let long-term and leave to your children.
• Transfer tax is low today. 3.09% is among the lowest in Western Europe; France and Spain run 6–10%.
• No capital gains tax for individuals through 2026. Suspended again by the 2026 budget; renewed year to year since 2013.
• Long-term letting works. Annual tenancies are legal, and Greek rents have risen since 2020, though yields on €800,000-zone property are modest.

Limitations and risks

• The rental ban removes the tourist-let model. Many buyers expect short-term letting to cover the cost of an island property; golden visa property cannot be let short-term.
• A 15% transfer tax may arrive in 2027. If enacted for non-EU individual buyers, it adds €48,000 to a €400,000 home. Buying through a company is being discussed as outside the measure, but that is not settled.
• Liquidity outside Athens is thin. A 120 m² house in a €400,000 zone can take a year or more to sell; price it for the local market, not for golden visa buyers.
• Title and planning risk. Unregistered extensions, missing building permits and cadastre gaps are common in older Greek property. Legal due diligence by a Greek lawyer is essential before you commit.

Greece property investment for US and Canadian buyers

For US and Canadian citizens

As non-EU buyers, US and Canadian citizens would be subject to the proposed 15% transfer tax; if you intend to proceed, we recommend completing in 2026. Owning Greek property does not make you Greek tax resident, but Greek rental income is taxed in Greece first and credited at home under the US–Greece or Canada–Greece treaty. Americans: a Greek bank account used for the purchase goes on FBAR and Form 8938. Canadians: property abroad costing over CA$100,000 goes on Form T1135 every year while you remain resident, and if you later leave Canada, departure tax covers your other assets while the Greek home stays on the Canadian tax net until sold.

For US and Canada residents on another passport

The rules are the same for every non-EU nationality, and the payment rule matters most: the transfer must come from your own account, with a source-of-funds trail the bank and the ministry accept. If part of the money is a family gift, it must be documented as a gift before it reaches your account. Plan to let the property long-term rather than to tourists, and budget ENFIA and insurance in the years you are not there.

Request a property review before you sign a preliminary contract

Send us the listing. We check the tier, the deed area, the payment route, the developer's VAT position and the rental history, and give you the all-in cost in writing at today's tax and the proposed 2027 rate. Book a consultation.

Frequently asked questions

Can I buy a house in Greece and get residency?

Yes, if the house meets the threshold for its zone (€400,000 in most of Greece, €800,000 in Attica, Thessaloniki, Mykonos, Santorini and islands over 3,100 residents) and is a single property of at least 120 m², or is a completed conversion or listed restoration at €250,000. The residence permit lasts five years and renews while you own the property.

Do I pay VAT or transfer tax on a Greek property?

Resale property: 3.09% transfer tax. New build: 24% VAT unless the developer has opted into the VAT suspension, which runs to 31 December 2026 and which most developers use; then 3.09% applies. From 2027 the government proposes 15% transfer tax for non-EU individual buyers of homes; it is announced, not enacted.

Can I rent my golden visa property on Airbnb?

No. Short-term rental of golden visa property is prohibited; the fine is €50,000 and the permit can be revoked. Long-term tenancies are allowed, and the rent is taxed in Greece at 15% to 45% before treaty credit at home.

Can I get Greek citizenship by buying property?

No. Property gives you a residence permit. Citizenship needs seven years of actually living in Greece, a B1 Greek certificate and an exam. Owning a home from abroad, however long, does not count.

What happens to the permit if I sell?

It ends at the next renewal unless you reinvest at the threshold in force on the day of sale. If your buyer is also a golden visa applicant, the property carries its eligibility with it, which can help the sale.

This guide is part of our Greece Residency by Investment: Golden Visa overview.

Official sources and references

1. Greece Ministry of Migration and Asylum
2. IMI Daily: Greece to raise property transfer tax to 15% for non-EU buyers (September 2026)
3. KPMG: Greece VAT suspension on new real estate extended to 31 December 2026 (Law 5246/2025)
4. Canada Revenue Agency: Form T1135 foreign income verification