Greek Parliament Set to Vote on 15% Home Transfer Tax for Non-EU Tax Residents
Buying a home in Greece could soon cost five times more in transfer tax for many people who live and pay taxes outside Europe. A government bill now before the Hellenic Parliament would raise the tax on home purchases from 3% to 15% for individuals who are tax resident outside the European Union and the European Economic Area, and lawmakers are expected to vote on it this Thursday, November 12, 2026.
The change is one article in a much larger bill from the Ministry of National Economy and Finance, titled "Strengthening disposable income, savings and investment," which carries the measures Prime Minister Kyriakos Mitsotakis announced at the Thessaloniki International Fair in September. The bill was tabled on November 3, and Parliament's Standing Committee on Economic Affairs began examining it on November 6.
The committee heard from outside bodies on Monday, November 9, and is scheduled to hold the second reading on Wednesday, November 11. Greek media report that the bill will then go to the full chamber for a vote on Thursday. The bill's page on the Parliament website notes that the posted text is not yet final, and none of its provisions will apply until the law is passed and published in the Government Gazette.
What the 15% Rate Would Mean
Today, a buyer in Greece pays transfer tax of 3% on the taxable value of a property, plus a municipal surcharge equal to 3% of that tax, for a combined 3.09%. Article 16 of the bill sets a special rate of 15% when the buyer is a natural person who is tax resident outside the EU and EEA at the moment the tax is due. Greek financial reporting expects the surcharge to apply on top, which would bring the total to about 15.45%. On a home with a taxable value of €300,000, that works out to roughly €46,350, compared with €9,270 today.
The higher rate would apply to final purchase contracts signed from July 1, 2027, not from January 1 as first announced. A buyer in the target group who signs the final deed before that date would still pay the current rate. According to analyses of the tabled text, signing only a preliminary contract before July 2027 would not by itself protect a later final contract.
The measure is also narrower than the September headlines suggested. It covers homes only, so plots, land, shops, offices and other commercial property stay at the normal rate. It applies to individuals rather than companies, so purchases made through a legal entity fall outside it as written.
Tax Residence, Not Passport
The key test in the bill is where the buyer is tax resident, not which passport they hold. That is a shift from how the plan was first described. When we first covered the 15% plan in October, officials were talking about exemptions for Greeks abroad and long-term residents, and it was still unclear whether nationality or residence would decide. On the tabled wording, a Greek citizen who lives and files taxes in the United States, Canada, Australia or the United Kingdom falls inside the 15% rule, while a non-EU national who is a Greek tax resident does not. Switzerland is outside both the EU and the EEA, so Swiss tax residents are covered too.
After public consultation, the ministry added an important exception. The 15% rate does not apply to buyers who qualify for the first-home exemption in Article 42 of the Property Tax Code. That group includes Greek citizens, ethnic Greeks from Albania, Turkey and the former Soviet Union, EU and EEA citizens, recognized refugees, and non-EU nationals with long-term resident status, provided they live permanently in Greece or intend to settle there. According to the report that accompanies the bill, nine of the 14 consultation comments on the article asked for Greek citizens and other first-home beneficiaries to be excluded.
In practice, a Greek American buying a summer house while still living in New York could face the higher rate, while one buying a home to move back to Greece may be exempt if they meet the first-home conditions. Those conditions come with their own limits, including checks on other property owned by the buyer, a spouse and minor children. Buying a vacation home or investing for a Golden Visa does not, on its own, create a right to the exemption.
Why the Government Wants It
When Mitsotakis announced the measure in September, he called it a disincentive aimed at foreign demand that, in his view, has kept prices high in parts of the country and made it harder for Greeks to buy a home. He pointed to buyers from countries such as China, Turkey and Israel. The tax was presented together with other housing measures, including a new round of the "My Home" first-home program for young buyers.
The same bill contains other property changes as well. They include a wider ENFIA property tax exemption for main homes in settlements of up to 2,000 residents from 2027, another year of the VAT suspension on new buildings, and a window to correct E9 property declarations for 2014 through 2026 without penalties.
Real estate professionals have pushed back. Market agents quoted by Kathimerini warned that the higher rate will hurt demand for holiday homes from non-EU buyers without solving the housing shortage, which they blame mainly on limited supply. Kathimerini has also reported that some non-EU buyers are hurrying to complete purchases before the July 2027 start date.
What to Watch on Thursday
The bill is widely expected to pass, but amendments to Article 16, including its start date or its exemptions, can still be tabled before the final vote. Buyers outside the EU and EEA who are weighing a purchase should follow the final text closely and confirm how the rules apply to their own tax residence with a Greek lawyer or accountant before signing anything.
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Photo: Marylinalcyonova, CC BY-SA 4.0, via Wikimedia Commons
