The 15% Tax on Home Purchases in Greece Will Exempt Greek Expats

By Christos ILIOPOULOS*

Athens, 12 September 2026

The Greek government is seeking to tackle the country’s housing crisis, namely the extremely high cost of housing, which often seems completely out of reach for the average Greek household. When a newly built 100-square-metre apartment in an average Athens neighbourhood can easily cost €300,000–€400,000 depending on the floor and location, while prices in more expensive areas can reach €600,000–€800,000—and considerably more in the most exclusive districts—it is easy to understand why relatively few Greeks can realistically consider buying their own home when the average monthly salary is approximately €1,500–€1,800.

For this reason, the government has announced that, starting in July 2027, the tax on the purchase of residential property will increase substantially, from 3% to 15%. There is an important qualification, however. The measure will not apply to permanent residents of Greece, to Greek citizens—including Greeks living abroad—or to citizens of European Union (EU) and European Economic Area (EEA) countries. Nor will it apply to individuals who hold long-term resident status in Greece. In addition, the increased 15% transfer tax will apply only to residential property—namely apartments and houses—and not to plots of land or commercial properties such as shops and other business premises.

The legislation setting out the precise details of the measure has not yet been passed. It appears, however, that the tax payable by the buyer on the purchase of a home will increase significantly, from the current 3.09% to 15.45% for buyers who are not permanent residents of Greece and who do not hold Greek or EU citizenship. The change will therefore make home purchases substantially more expensive for this particular category of buyers, rather than for buyers generally.

For example, on a €200,000 apartment, a buyer currently pays a transfer tax of 3%, or €6,000. From July 2027, the tax is expected to rise to 15%, or €30,000. This means that a non-Greek buyer would pay €24,000 more in tax than under the current system. Alternatively, the additional cost could put downward pressure on the property’s sale price, as sellers may have to reduce their asking price to make the property affordable to prospective buyers.

The measure is aimed primarily at buyers from third countries, including countries such as China, Turkey and those in the Middle East, as well as the United States, Canada, Australia and elsewhere. Greek expatriates, however, are expected to be exempt. This has been stated publicly by government officials, although the precise legal definition of an “expatriate” has not yet been clarified. The most likely interpretation is that the new tax will not apply to people who are permanent residents abroad—whether in the United States, Canada, Australia or elsewhere—but who hold Greek citizenship. In that case, they would continue to pay the standard, lower 3% transfer tax on the purchase of a home.

This makes it particularly relevant for Greeks living abroad to consider whether they are entitled to obtain official recognition of their Greek citizenship and, consequently, a Greek passport, provided they have a Greek ancestor—such as a parent or grandparent—and can produce the required documentation. Thus, if a Greek living abroad wishes to purchase a home in Greece but is not registered in a Greek municipal registry and therefore does not hold Greek citizenship, from July of next year they may face a transfer tax of €60,000 on a €400,000 apartment or house. If, on the other hand, they hold Greek citizenship and can document it with a Greek passport, the tax would be only €12,000. If Greek citizenship can therefore save a Greek expatriate €48,000 in tax, as in the example above, this could represent a very significant financial advantage for anyone planning to purchase a home in Greece—a country where tens of thousands of foreign buyers purchase residential property every year.

*Christos ILIOPOULOS, attorney at

the Supreme Court of Greece , LL.M.

www.greekadvocate.eu

e-mail: bm-bioxoi@otenet.gr