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Buying Property in Greece: Proposed Changes for 2027

In The News

04.11.2026

If you are considering buying a house in Greece, it is worth following the new tax bill now before the Greek Parliament, and how its proposed measures may affect property transactions once they are adopted.

More specifically, the bill proposes changes to the property transfer tax and an extension of the VAT suspension on newly built homes. In this article, we explain how these changes may affect you as a prospective buyer and share data from our own research.

Higher Transfer Tax for Certain Property Buyers

How Transfer Tax Works

In general, when you buy a house in Greece, there are some additional costs on top of the purchase price. One of them, is the transfer tax, which is 3.09% of the purchase price or the taxable value, whichever is higher, and is typically paid by the buyer, not the seller.

What Is the Proposal For Transfer Tax

Under the proposed rules, the transfer tax would rise from 3% to 15% for a specific group of buyers. A municipal surcharge applies on top, which brings the total to 15.45%, compared with 3.09% today.


The new rate applies when all three of these are true:


  • You are buying a home. Plots, shops and agricultural land would stay at the standard rate. The rule also covers purchases only, not other ways of acquiring property, such as inheritance or a gift.


  • You are buying as a private individual. Purchases through a company would not fall under this rule.


  • You are a tax resident of a country outside the EU and the European Economic Area (EEA) at the moment the tax becomes due. The EEA is the EU countries plus Iceland, Norway and Liechtenstein. So, this does not apply to tax residents of EU countries.


If the bill passes as proposed, the higher rate would apply from 1 July 2027. What typically counts is the date of the final contract at the notary, not the date of a reservation.

Your Tax Residence Matters More Than Your Passport

Under the proposed rules, what decides the rate is your tax residence, not your nationality. Your tax residence is the country where you live and pay income tax. A British citizen living in the Netherlands, for example, would typically pay the standard rate. A Dutch citizen living in the United States could fall under the 15% rate.


Tax residence can be complicated, especially if you split your time between countries. It is a good idea to check your situation with a tax adviser in your country of residence before you plan your purchase.

VAT Suspension on New-Built Properties

When someone buys a newly built house in Greece, there is normally VAT to be paid, with the standard rate being 24%, while some regions benefit from lower rates.


Developers can apply to have this VAT suspended. When they do, the buyer pays transfer tax instead, which is currently 3.09%. The suspension was due to end on 31 December 2026, and the bill proposes to extend it.


As a result, the developers will be able to apply for a VAT suspension until 31 December 2027, while the suspensions already granted are extended automatically, without a new application being required.


If the bill passes, developers would be able to apply for a VAT suspension until 31 December 2027. Suspensions already granted would be extended automatically, without a new application.

What Our Data Shows

Following the initial announcements of these two law updates, we looked at data from our client base, and here is what we got:


There is a particularly strong demand for newly built homes measuring between 60 and 70 sq.m., which cost considerably less. In terms of property type, approximately seven out of ten buyers (71.7%) opt for a newly built home – or a newly built property that is ready for immediate occupancy.


Another important development, which began in 2025 and has continued into this year as well, is the increasing interest from US buyers.


As Mr. Giorgos Gavriilidis, CEO & Founder of Elxis, highlights: “In 2024, almost one in eight of our clients came from the United States. Today, following the first half of this year, we are seeing demand from the US and Canada increase by 50% compared with the corresponding period in 2025. Notably, three out of ten of these buyers are Greeks living abroad, from the second or even third generation of the diaspora.”

Seeking a House in Greece?

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Disclaimer: This article is for general information only and is not legal or tax advice. At the time of writing, the bill has been submitted to the Greek Parliament and has not yet been voted on. Its provisions may change before it becomes law, and how they are applied in practice may depend on later guidance from the Greek tax authorities. Every purchase is different, so please seek advice on your own situation before making any decisions.

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