The Greek government plans to increase the tax on the transfer of residential real estate for buyers from countries outside the European Union fivefold—from 3% to 15%. The new measure is set to take effect in 2027 and may directly affect, in particular, buyers from Ukraine if they do not fall into the categories eligible for exemptions under the law.
Greek Prime Minister Kyriakos Mitsotakis announced this decision during a speech at the 90th International Fair in Thessaloniki. On September 7, the government published a detailed description of the tax changes. The authorities explain the increase by the need to limit additional demand for housing from buyers in third countries, which, according to their assessment, contributes to rising prices and reduces the affordability of real estate for permanent residents of Greece.
Currently, the base tax on real estate transfers in Greece is 3% of the property’s taxable value, and when the municipal surcharge is included, the effective rate reaches 3.09%. For homebuyers subject to the new rules, the rate will be 15%, or about 15.45% including the municipal surcharge. Thus, when purchasing an apartment worth 300,000 euros, the tax burden could increase from approximately 9,300 euros to 46,350 euros, and for a property worth 500,000 euros—from 15,450 euros to 77,250 euros.
The increased rate applies specifically to residential real estate. According to the government’s clarification dated September 7, it should not apply to commercial properties, land parcels, or other categories of real estate.
However, not all citizens of non-EU countries will be subject to the increased rate. Exceptions are provided, in particular, for individuals with long-term resident status in Greece, certain citizens of Greek origin, recognized refugees, and holders of specific categories of residence permits. Citizens of the EU and the European Economic Area will also be exempt from the increased rate.
For Ukrainians, the implications of this new measure will depend primarily on their legal and tax status in Greece. Ukraine is not a member of the EU or the EEA, so a Ukrainian citizen purchasing a home as a regular buyer from a third country is potentially subject to the 15% rate. The government’s published clarification does not specifically state whether there will be a special exemption for Ukrainians residing in the country under the temporary protection regime.
Mitsotakis described the tax increase as part of a broader policy to curb housing costs. At the same time, the government intends to extend a number of measures to support the domestic market, including exempting new buildings from VAT, providing tax incentives for long-term leases of vacant properties, and imposing restrictions on new short-term rental properties in certain areas of Athens and Thessaloniki. The government also announced a new €2 billion subsidized housing loan program called “Spiti Mou III.”
