*Updated: 9 September 2026. Editor’s note: This is a government announcement. As of writing, there is no bill text yet; we will update this article the moment it is published.*
Over the weekend, from the stage of the Thessaloniki International Fair, Greek Prime Minister Kyriakos Mitsotakis announced a package of economic measures. One of them directly concerns anyone considering buying property in Greece who is not an EU citizen: “the property transfer tax will rise from 3% to 15%”. The date reported by the Greek press is “1 July 2027”, and our Greek lawyer told us on 8 September 2026 that the date in the announcement is 1 July 2027. Greek media specifically named buyers from China, Turkey, and Israel.
What it means in numbers
Greece’s transfer tax is paid by the buyer, on the property value, before signing at the notary. Today, the rate is 3% (3.09% with the municipal surcharge). Under the announcement:
| Property value | Tax today (3%) | Tax as announced (15%) | Difference |
| €100,000 | €3,000 | €15,000 | €12,000 |
| €300,000 | €9,000 | €45,000 | €36,000 |
| €500,000 | €15,000 | €75,000 | €60,000 |
On a €100,000 plot near Karystos, Evia, Greece, the difference is €12,000 before we even talk about the plot price itself.
What is still unknown
Let’s be precise: “this is an announcement, not a law.” There is no bill text and no transitional provisions yet. What our Greek lawyer has now confirmed: the tax applies only to residential property bought by individuals from third countries. It does not apply to land plots, to land, or to commercial property. These are the questions that remain open:
- What fixes the date: The notarial deed, the tax payment, or a preliminary agreement signed in 2026. Weeks can pass between signing and payment.
- Dual nationals: Buyers holding an EU passport (Portugal, Romania, Germany, and others) alongside an Israeli one may not be affected at all.
- Purchase through a company: Whether buying via a Greek or EU company is treated differently.
- Residents: Non-EU citizens legally living in Greece, spouses of EU citizens, and joint purchases.
We have lived in Greece for more than 4 years, work with a Greek lawyer and an Israeli trustee lawyer (Ronit Amir-Yaniv Law Office), and we follow the legislation. As soon as there is a text, we will update here.
Why “the Canadian model”
The Greek press calls the measure “the Canadian model”: in 2017, Ontario imposed a 15% tax on foreign buyers to ease pressure on the local housing market, and has since raised it to 25%. Greece’s stated goal is similar: to cool foreign demand pressure on housing prices, mainly in Athens and the popular islands.
What it means if you were already thinking about a plot or villa in Greece
What is already clear: Anyone who completes a purchase by the end of 2026 pays 3%. If the announcement becomes law as reported, the end of the year is no longer an arbitrary date.
In our process: Buying a plot near Karystos, then planning and building a villa with a pool to the design you choose, the transfer tax is paid once, on the plot, at purchase. The construction itself is not a property transfer and carries no transfer tax. In other words: buying the plot in 2026 settles the transfer-tax question at today’s rate, and the villa is built afterwards at your own pace.
FAQ
Is this already law?
No. It is a Prime Minister’s announcement. The text has not been published.
From when is it meant to apply?
The press reported 1 July 2027. Our Greek lawyer puts the date at 1 July 2027, subject to legislation.
Does it apply to land plots too?
No. The tax applies only to residential property bought by individuals from third countries. It does not apply to land plots, to land, or to commercial property.
I also hold an EU passport; does it affect me?
Possibly not. The announcement refers to non-EU buyers. We are waiting for the text.
What fixes the date: contract or payment?
Not yet determined. This is one of the key questions we are checking with the lawyers.
What should I do now?
If you were considering a purchase this year look at the available plots and understand the timeline to close by the end of 2026. A short call with us: +972-73-3678685.
Sources
- Greek City Times, 6 Sep 2026: Greece to Raise Property Transfer Tax to 15% for Third-Country Buyers
- Expats Greece, Sep 2026: Greece Announces 15% Property Transfer Tax for Non-EU Buyers
- Greek Reporter, 5 Sep 2026: Greek PM Announces Broad Tax Relief and Income Support at Thessaloniki Fair
Greece Invests: Plots and villas with a pool near Karystos, Evia, Greece. We have lived in Greece for more than 4 years. +972-73-3678685
