Greek Property Tax Increase to Impact Non-EU Buyers
Greece has been attracting an increasing number of non-EU buyers interested in holiday homes. Between 2024 and 2026, they accounted for 44% of prospective buyers — a notable rise. However, the Greek government's decision to significantly increase property transfer taxes on non-EU purchases starting in July 2027 could reshape this landscape.
Increased Interest from Non-EU Buyers
Recent years have seen a substantial rise in interest from non-EU buyers in the Greek property market. Data shows that from 2024 to 2026, non-EU buyers constituted 44% of prospective home buyers in Greece, marking an 11.1% increase. In particular, interest from British and US buyers surged by 20% and 30%, respectively.
These buyers have shown a marked preference for certain areas. British buyers tend to favour the Ionian Islands, while US buyers are more interested in Crete and the mainland. Nearly 40% of non-EU buyers are looking for properties priced over €400,000.
Upcoming Tax Changes
A significant policy change looms as Greece plans to raise the property transfer tax rate for non-EU buyers from the current 3% to 15%, effective from July 1, 2027. This change, including the municipal surcharge, brings the effective tax rate to 15.45%.
These increases apply specifically to residential property purchases by non-EU citizens without long-term resident status and aim to address housing affordability issues for local residents by moderating foreign demand.
Financial Implications for Buyers
The upcoming tax increase is substantial and could significantly impact purchase decisions for non-EU buyers. For example, tax on a property valued at €200,000 will increase from €6,180 to €30,900 under the new rules.
Buyers with long-term resident status in Greece are exempt from this tax rate increase. Additionally, the new rules apply from July 2027, giving potential buyers a window to finalize transactions under the current tax rate.
What This Means for Prospective Buyers
With the impending tax hike, non-EU buyers considering a Greek property purchase should weigh their options carefully. Areas like the Ionian Islands, Crete, and the mainland are popular choices, but the financial landscape is changing. Acts soon could secure a more favourable tax rate.
Given the planned changes, contacting a local property advisor and staying updated with Greek property news are wise moves. Habio offers extensive listings and guides for those exploring property options in Greece. Always consult the official sources for the most current tax regulations.
Frequently asked questions
When will the Greek property transfer tax increase take effect?
The tax increase will take effect on July 1, 2027.
How much will the Greek property transfer tax increase for non-EU buyers?
The tax will increase from 3% to 15% for non-EU buyers, which equates to an effective rate of 15.45% including municipal surcharges.
Why is Greece increasing the property transfer tax for non-EU buyers?
The increase aims to address housing affordability issues in Greece by reducing foreign demand pressure on the housing market.
Are there any exemptions to the increased Greek property tax?
Long-term residents in Greece and purchases of commercial properties and land by legal entities are exempt from the tax increase.
Which areas are popular with non-EU property buyers in Greece?
British buyers favour the Ionian Islands, while US buyers prefer Crete and mainland Greece.
Sources
- Non-Dom Buyers Reshape Greece’s Luxury Property Market | GTP Headlines
- Greece announces property transfer tax rising from 3% to 15% for non-EU buyers from July 2027 – Remote Work Europe News
- Greece Property Transfer Tax 2027: 15% for Non-EU Buyers
- Greece's 15% Property Transfer Tax: What Changes in 2027 | BELL
- Greece Property Tax to Rise 15% for Non-EU Buyers by 2027
This article is general information, not legal, tax or financial advice. Markets and rules change — verify the current position with official sources before acting. Published 23 September 2026.
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