Reviewed by Jane Katkova, Founder & Licensed CICC ConsultantGreece is preparing a major policy shift that directly affects international buyers and investors seeking European residency. Under a housing package announced by Prime Minister Kyriakos Mitsotakis at the Thessaloniki International Fair on 6 September 2026, the Greek government intends to raise the property transfer tax on residential acquisitions by third-country nationals from 3% to 15%.
With the standard 3% municipal levy on the tax, the effective rate rises from 3.09% to 15.45%. For high-net-worth individuals using the Greece golden visa to secure residency, the change adds significant financial and strategic considerations to a purchase. No draft bill has been published yet, and reports of the start date differ between 1 January and 1 July 2027, so the details remain subject to change.
Financial impact across the golden visa investment thresholds
The measure means a substantial rise in upfront transaction costs for residential real estate. On a typical acquisition, a non-EU buyer faces an additional outlay of more than 12% of the declared purchase value.
| Qualifying property threshold | Current effective tax (3.09%) | Proposed effective tax (15.45%) | Additional upfront capital |
|---|---|---|---|
| €250,000 (conversion or restoration) | €7,725 | €38,625 | +€30,900 |
| €400,000 (regional real estate) | €12,360 | €61,800 | +€49,440 |
| €800,000 (prime areas: Attica, Thessaloniki, islands) | €24,720 | €123,600 | +€98,880 |
In prime markets such as central Athens, the Athenian Riviera, Mykonos and Santorini, where the golden visa threshold is €800,000, the transfer tax alone rises from under €25,000 to over €123,000, adding nearly €100,000 to the cost of the transaction.
Who the 15% transfer tax applies to, and who is exempt
Understanding who falls within the scope of the measure matters for estate and cross-border tax planning:
- Who it targets: the 15% rate applies to residential property acquisitions by third-country nationals (non-EU/EEA tax residents).
- Key exemptions: Greek citizens, qualifying members of the Greek diaspora, residents of EU/EEA member states and long-term domestic tax residents qualifying under first-home exemptions remain under the existing rules.
- Asset classes: the policy is focused on residential real estate. Commercial properties, land plots and non-residential premises are currently excluded from the 15% rate.
Strategic implications for Greece golden visa applicants
The Greek golden visa remains one of Europe's most compelling residency-by-investment programmes, with free movement across the Schengen Area, no minimum stay and a Mediterranean lifestyle. The tax change does, however, alter how applicants should allocate capital.
1. Consider the €250,000 conversion and restoration routes
Investors seeking to limit the outlay can evaluate the €250,000 qualifying routes, which cover commercial-to-residential conversions and restorations of listed buildings. Even at 15.45%, the transfer tax on a €250,000 property is €38,625, far below the tax on an €800,000 prime residential purchase. Our guide to Greece golden visa property rules explains what qualifies.
2. Commercial real estate diversification
Because commercial assets fall outside the proposed residential tax, commercial real estate offers a tax-efficient route for private investors and family offices that prioritise capital preservation while maintaining European residency.
3. Timeline management and transition windows
Measures of this scale typically come with transitional provisions and grandfathering rules for contracts already under way. Investors with active acquisition plans should consider bringing forward preliminary purchase agreements and tax registry filings to secure the current rate before the measure takes effect.
Your next steps
Changing rules call for guidance tailored to each family. At Fast Passport Boutique by Jane Katkova, our specialists assist investors with immigration, real estate acquisition and residency-by-investment planning, with complete discretion and precision.
Our team works closely with leading legal and tax advisers in Greece to structure your acquisition efficiently, limit tax exposure and protect your family's mobility objectives. Book a consultation to review your Greece plans, or compare the alternatives in our guide to the European golden visas still open.