Greece Property Transfer Tax to Increase to 15%: What Does It Mean for Golden Visa Investors?

Greece Property Transfer Tax to Increase to 15%: What Does It Mean for Golden Visa Investors?

Greece is preparing for a significant tax change affecting residential property purchases by non-EU third-country nationals.

Under the new measure announced by the Greek government, the property transfer tax applicable to residential property purchases by certain third-country nationals will increase from 3% to 15%.

This change also means that Turkish investors planning to purchase property under the Greece Golden Visa program will need to reassess the total cost of their investment.

So, when will the new tax rules take effect, who will they apply to, and how much could they increase the cost of a Golden Visa property investment?

What Is the Current Property Transfer Tax in Greece?

The current standard property transfer tax in Greece is 3% of the taxable value of the property.

An additional municipal levy of 3% is imposed on the amount of the main transfer tax, bringing the effective tax burden to approximately 3.09%. The tax is payable by the buyer.

What Will the New Property Transfer Tax Rate Be?

Under the measure announced by the Greek government in September 2026, the main property transfer tax applicable to residential property purchases by third-country nationals falling within the scope of the new rules will increase from 3% to 15%.

Including the municipal levy, the effective rate will rise to approximately 15.45%.

There is an important distinction to make:

This is not a tax increase specifically targeting the Golden Visa program. It is a tax measure applying to residential property purchases in Greece by non-EU third-country nationals who fall within the scope of the new rules.

According to the government's announcement, commercial properties, land and other types of real estate will not be subject to the new 15% rate.

Will the New Property Tax Apply to Turkish Investors?

As Türkiye is not a member of the European Union, Turkish citizens are generally classified as third-country nationals.

However, the measures announced by the Greek government also provide for certain exemptions based on status. The application of the new tax should therefore be assessed according to each investor's legal and residency status.

The change is particularly relevant for Turkish investors planning to purchase residential property in Greece for Golden Visa purposes.

How Much Could the Tax Increase Add to the Cost of a Golden Visa Investment?

The potential impact can be illustrated using a property with a taxable value of €250,000.

Under the current 3% main tax rate:

€250,000 × 3% = €7,500

Under the new 15% main tax rate:

€250,000 × 15% = €37,500

The difference is:

€30,000

Therefore, for the same taxable value of €250,000, the change in the main property transfer tax alone could result in an additional cost of €30,000.

The actual difference would be slightly higher once the municipal levy is included.

These examples are intended solely to illustrate the difference between the two tax rates and assume that the purchase price corresponds directly to the taxable value. The actual transaction cost may vary depending on the taxable value of the property and the legal circumstances of the transaction.

Are the Greece Golden Visa Investment Thresholds Changing?

No. The announced tax measure does not represent an increase in the minimum investment thresholds for the Greece Golden Visa program.

What is changing is the property transfer tax payable by investors on residential property purchases that fall within the scope of the new rules.

As a result, investors should no longer consider only the question, “How much do I need to invest to qualify for the Golden Visa?” The question “What will my total acquisition cost be?” is becoming increasingly important.

When Will the New 15% Property Transfer Tax Take Effect?

The announced measure is expected to apply from 1 July 2027.

This date creates an important timing consideration for investors who are currently planning a property purchase in Greece.

However, the final legislation and transitional provisions should be monitored carefully. In particular, further clarification may be required regarding transactions initiated before 1 July 2027 but completed after that date, including which date will determine the applicable tax rate.

Is It Advantageous to Invest in a Greece Golden Visa Property Before 2027?

For third-country nationals considering a residential property investment in Greece, the new tax measure makes investment timing an increasingly important part of the overall cost calculation.

However, investors should not make a rushed property decision solely to avoid a future tax increase.

When considering a Golden Visa investment, several factors should be assessed together, including:

• Golden Visa eligibility of the property;
• Location;
• Fair market value;
• Rental potential;
• Resale potential;
• Reliability of the developer;
• Legal status of the property; and
• Total acquisition cost.

The objective should therefore not simply be to invest before 1 July 2027, but to use the available time to identify the right investment opportunity.

Plan Your Greece Golden Visa Investment with Vesta Global

The new property tax measure in Greece makes the timing of an investment just as important as selecting the right property for Golden Visa investors.

At Vesta Global, we assess each investor's budget, family plans and investment objectives, compare different property alternatives and help identify suitable opportunities.

Together with our expert partners, we support investors throughout the different stages of the process, from property selection and legal due diligence to the purchase transaction, Golden Visa application and issuance of the residence permit.

If you are considering a Greece Golden Visa investment, you can speak with Vesta Global experts to assess the current tax rates, the potential impact of the 2027 changes and the options available to you.

Frequently Asked Questions

Is Greece increasing its property transfer tax to 15%?
Yes. Under the announced measure, the main property transfer tax on residential purchases by certain third-country nationals is expected to increase from 3% to 15%.

Will the new tax apply to Golden Visa investors?
The tax measure is not specific to the Golden Visa program. However, residential property purchases made for Golden Visa purposes by third-country nationals who fall within the scope of the rules may also be affected.

How much could the tax increase on a €250,000 investment?
Assuming a taxable value of €250,000, the difference in the main transfer tax would be approximately €30,000.

When will the new rate apply?
According to the announced timetable, the new measure is expected to apply from 1 July 2027. The date has not yet been finalised in legislation.

Will commercial properties also be subject to the 15% tax?
According to the details announced by the Greek government, the new measure targets residential properties. Commercial properties, land and other types of real estate are not included in the scope of the new 15% rate.

Fill out the form to plan your Greece Golden Visa investment ahead of the 2027 tax changes and explore the investment options best suited to you. A Vesta Global expert will get in touch with you.