08.09.2026
Eirini Notara
Greek Prime Minister Kyriakos Mitsotakis has announced series of housing measures affecting property buyers and owners at the Thessaloniki International Fair.
Expected to take effect in 2027, the changes are aimed at easing pressure on the housing market while also supporting smaller communities. Here is what changing and what it means if you are planning to buy or already own a property in Greece.
The property transfer tax for purchases by non-EU citizens was announced to increase from 3% to 15%, with the change expected to apply from 2027. Currently, the transfer tax is 3.09% of the purchase price (including the municipal surcharge) and is paid by the buyer. This change will apply only to residential properties, not commercial premises, plots of land, or other kinds of properties. It is also expected to apply to transactions involving individuals and not legal entities. From what has been reported so far, buyers from the EU, the EEA (which includes Iceland, Norway and Liechtenstein), as well as long-term residents in Greece, will not be affected, but further details are expected once the measure is finalized.
According to Deputy Minister of National Economy and Finance, Dimitris Markopoulos, these changes were made in response to local communities and their needs, with the goal of relieving the pressure from international demand and improving affordability for local buyers. For non-EU citizens considering purchasing a home in Greece, this makes the timing of the purchase important, as purchases completed before the new reform takes effect will remain subject to the existing transfer tax rules.
From 2027, more property owners in small settlements will also benefit from the abolition of ENFIA, Greece’s annual property tax. The measure was originally introduced to reduce the burden in smaller and more remote communities, where population decline and lower property demand are pressing concerns. Under the current rules, the exemption applies to settlements with up to 1,500 residents, with a higher limit of 1,700 residents in Western Macedonia and certain border regions.
From 2027, the population threshold will rise to 2,000 residents across communities in Greece, and 2,200 in Western Macedonia, expanding the measure to 131 additional communities and 62,000 properties. This includes settlements from mainland Greece to the islands, and even areas of strong touristic interest, such as communities in Mykonos, Santorini and Rhodes.
This expansion is particularly relevant for property owners in smaller and more secluded settlements and is part of the government’s wider effort to support and keep these communities alive.
Measures were also announced to encourage owners to bring vacant properties back into the long-term rental market. These include a three-year income tax exemption for qualifying vacant homes, tax incentives for building renovations, and the continued suspension of VAT on new buildings.
Restrictions on short-term rentals will also continue in the three municipal districts of Athens and the First Municipal District of Thessaloniki.
For property owners, this is an important incentive to bring more properties into the market, helping increase the supply of long-term rentals and easing the pressure on rents, while the continued VAT suspension keeps new construction moving.
A new “My Home III” (Spiti Mou III) housing program, with a total budget of 2 billion euros, is expected to launch in early 2027 and could help an additional 17,000-20,000 households purchase their first home. The program will expand the eligibility criteria of “My Home II”. More specifically:
The maximum age will rise to 55 from 50.
The maximum property value will rise to €300,000 from €250,000.
The maximum loan amount will increase to €230,000 from €190,000
Financing can cover up to 90% of the property’s value, with half of each loan being interest-free and funded by the state and the other half provided by commercial banks.
The income limit allowance will increase to €7,000 from the previous €5,000 per child.
The permitted floor area will increase for households with more than 4 children, while the general permitted floor area remains at 150 sqm.
Income limits also widen and are set at:
€25,000 for single, divorced or separated applicant with no children
€35,000 for married couples or civil partners, plus €7.000 for each child.
€39,000 for single-parent families, plus €7,000 for each additional child beyond the first.
Because this program is based on living and tax criteria in Greece, foreign residents who file taxes and are considering buying a primary home in the country may find it worth exploring. One thing to note is that it concerns primary residences only, so holiday or investment homes do not qualify. As the final terms have not yet been published, the details should become clearer once the official decision is issued.
These new measures raise important considerations when planning to purchase property in Greece. For non-EU buyers, the new transfer tax could significantly affect the overall cost of the purchase, making it important to consider the timing and financial planning for the move.
The broader ENFIA exemption means that qualifying properties will be less costly to own on an annual basis. This could put smaller, less-populated areas on the map for prospective buyers, where lower ongoing costs can make a difference in the long run. At the same time, the incentives for vacant homes and the continued VAT suspension on new construction point to more properties entering the market, and combined with the “My Home III” initiative, they form part of a wider move toward more accessible housing.
With the new measures expected to come into effect from 2027, understanding how the Greek real estate market is shifting is important for future buyers and property owners alike. Further clarifications and details are expected once the official changes are issued. Whatever you’re planning, our team is here to guide you in your next step.
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Disclaimer: This content is for informational purposes only and does NOT constitute legal or tax advice. For any issues relating to specific cases, it is highly recommended to consult a lawyer, an accountant or a notary, depending on your needs.
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