Recent reports suggested that the Greek government plans to raise the property transfer tax for non-EU and non-EEA citizens from 3% to 15%.

Minister of National Economy and Finance Kyriakos Pierrakakis has provided several important details. The increase will not take effect at the beginning of 2027, but on July 1, 2027. He also noted that the reform will apply only to individuals and will not affect companies.

In addition, the minister clarified that the measure will apply exclusively to residential property. Commercial real estate, land plots and other non-residential properties will not be affected by the reform.

Transactions involving residential properties can still be completed under the current 3% rate until June 30, 2027.