Last reviewed 27 October 2026 · Demetre E. Katsouris, Managing Partner
In a nutshell. A purchase of Greek real property attracts either property transfer tax or VAT, never both. Transfer tax is 3% plus a 3% municipal surcharge — 3.09% — on the higher of the contract price and the objective (tax) value, declared and paid before the deed. A newly built property sold by a developer is in principle subject to 24% VAT, which has been suspended at the developer’s election since 2020, currently to 31 December 2026, so that such buyers pay 3.09% instead. From 1 July 2027 the Government has announced a 15% transfer tax for non-EU individuals buying residential property; no bill had been published as at the date of review.
Transfer tax
Payable by the buyer; declared electronically and paid before the deed, the notary requiring the receipt; computed on the higher of price and objective value; applicable equally to individuals and companies today. A first-home exemption exists — €200,000 for a single buyer, €250,000 for a married buyer or registered partner, increased per child — but it is confined to beneficiaries meeting the Greek-residence conditions and is therefore rarely available to a non-resident (Property Tax Code, Law 5219/2025). Exchanges, contributions to companies and transfers of plot shares under an antiparochi carry transfer tax on the value transferred. Parental gifts are outside transfer tax and within the gift-tax regime.
VAT on new builds
New buildings sold by a developer under a permit issued after the VAT regime’s reference date are in principle subject to 24% VAT on the price. The suspension, elected by the developer per project, substitutes 3.09% transfer tax; it runs to 31 December 2026 unless extended, and the operative act is the signing of the final deed under a covered election. A reservation or pre-contract does not fix the position. On a €500,000 apartment the difference is €120,000 against €15,450.
The announced 15% rate
Announced on 6 September 2026 and detailed by the Finance Ministry on 7 September: 15% transfer tax on residential property acquired by third-country nationals in their own name from 1 July 2027, with announced exemptions for persons of Greek descent and for third-country nationals holding long-term resident status, and with companies outside the measure as described. The effective rate with the surcharge would move from 3.09% to 15.45%. Open points: the final text, whether the deed date or an earlier contractual step is the trigger, the definitions of the exemptions, and any anti-avoidance rule for companies. A deed signed before 1 July 2027 pays the current rate.
Structuring questions we address
Personal or corporate ownership; title in one spouse’s name or jointly where citizenships differ; the sequence of reservation, pre-contract and deed against the two statutory dates; the allocation of tax risk in the preliminary agreement where completion may slip; and the position of a non-EU buyer of a new build who may face either 24% VAT or 15.45% transfer tax in the second half of 2027 depending on how the two measures are finally drafted.
Frequently asked questions
Is transfer tax charged on the price or the tax value? On the higher of the two.
I am buying from a developer. Which applies? Transfer tax at 3.09%, if the developer’s VAT election under the suspension covers the sale and the deed is signed within the suspension period; otherwise 24% VAT. Obtain the developer’s written confirmation.
I am American and my spouse is Irish. How does the 15% affect us? The measure as announced turns on the buyer’s citizenship. Title in the EU spouse’s name, or jointly, changes the analysis and has consequences for the couple’s own arrangements; take advice before the preliminary agreement.
Related Insights
- Greece’s 15% transfer tax for non-EU buyers from 1 July 2027
- Three Greek property tax breaks end on 31 December 2026
- Buying Greek property through a company
- Non-EU buyers: be deed-ready before 1 July 2027
This page is general information and does not constitute legal advice. It reflects the law as at the date shown and may change.
