A draft law introducing a 15% levy on property transfers has been submitted to the Greek Parliament on 9 November 2026. The measure targets all purchasers, with particular implications for foreign investors seeking residency through the Golden Visa scheme.
Scope and Legislative Status
The bill, formally titled the “Property Transfer Tax Amendment,” was tabled in the Hellenic Parliament on 9 November 2026 and is currently under debate. It proposes to raise the existing transfer tax from the current 3%‑4% band to a flat 15% on the transaction value, irrespective of property type or buyer nationality. The amendment is reported by Get Golden Visa and is still a proposal; it has not yet been enacted into law.
If approved, the tax would apply to all conveyances of immovable property situated in Greece, including residential, commercial and mixed‑use assets. Existing exemptions – such as the reduced rate for primary residences under €250,000 – would be eliminated, and the new flat rate would become the default.
Who Is Affected
The measure targets a broad spectrum of market participants. Domestic home‑buyers will see a steep increase in acquisition costs, potentially curbing demand in the secondary market. Foreign investors, particularly those purchasing under the Golden Visa programme, face the most immediate financial impact because the tax is payable at closing and is not deductible against the visa‑related investment threshold of €250,000.
Landlords who acquire additional units for rental or short‑term tourist let purposes will also bear the higher levy, influencing the economics of the burgeoning short‑stay market. Developers planning new projects must factor the tax into the cost structure of land purchases, which could affect pricing of off‑plan units.
Practical Steps for Buyers and Owners
Prospective purchasers should first confirm the bill’s final wording and any transitional provisions before signing a purchase agreement. Engaging a Greek notary early can clarify whether the tax will be calculated on the contract price or the market valuation, a distinction that has caused disputes in past reforms.
For Golden Visa applicants, it is advisable to separate the investment component from the transfer tax by structuring the purchase through a special purpose vehicle, where permissible, to preserve the €250,000 residency threshold. However, such structures must comply with anti‑money‑laundering regulations and be disclosed to the Ministry of Migration and Asylum.
Existing owners planning to sell should consider timing the transaction before the law comes into force, if a definitive commencement date is set, to avoid the higher levy. Sellers can negotiate price adjustments to offset the buyer’s tax burden, a practice common in the Greek market.
Risks and Compliance Considerations
The primary risk lies in the uncertainty of the bill’s passage and the exact date it would become effective. Investors should monitor parliamentary votes and any amendments that could introduce exemptions or phased implementation. Non‑compliance, such as under‑reporting the transaction value, carries penalties under Greek tax law, including fines and potential criminal prosecution.
Foreign buyers must also be aware of Greece’s broader regulatory environment, including the requirement for a tax identification number (AFM), registration with the local land registry, and adherence to anti‑terrorism financing checks. The transfer tax is payable within 30 days of registration; failure to remit the amount can delay the title transfer and attract interest charges.
- Verify the final status of the 15% transfer tax before signing any purchase contract.
- Engage a qualified Greek notary to confirm the tax base (contract price vs. market value).
- Consider structuring Golden Visa purchases through a compliant vehicle to preserve the €250,000 threshold.
- If selling, assess whether an early transaction can avoid the higher levy.
- Maintain a valid AFM and ensure full tax payment within the statutory 30‑day window.
- Consult a local tax adviser to understand potential penalties for under‑payment.
The proposed 15% transfer tax, if enacted, would raise the upfront cost of acquiring Greek real estate by a significant margin, narrowing the price advantage that has attracted many Golden Visa investors. While the tax applies uniformly, the impact on resale value may be mitigated if the market adjusts to higher entry costs, potentially stabilising at lower price growth rates. Investors should benchmark against comparable Mediterranean markets—such as Portugal, where transfer taxes remain at 6%—to gauge relative attractiveness. A careful cost‑benefit analysis, factoring in the residency benefit, rental yields and possible tax‑efficient structuring, remains essential before committing capital.
Related reads
Greece’s Proposed 15% Property Transfer Tax Could Set Off a Golden Visa Buying Rush (IMI Daily, 23 Oct 2026)
Greece’s Proposed 15% Property Transfer Tax Reaches Parliament (Get Golden Visa, 9 Nov 2026)
Ever more Israelis moving to and investing in Cyprus (Inquirer.net, 20 Sep 2026)
Sources & credits
- Feature: Greece’s Proposed 15% Property Transfer Tax Reaches Parliament — Get Golden Visa. Linked, not reproduced.
- Headlines via Google News RSS; content belongs to the linked publishers.
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