They want to raise the tax on the purchase of housing for citizens outside the EU from 3% to 15%

Greece announced its intention to increase from January 1, 2027 the tax on the purchase of housing by citizens of countries outside the EU from 3% to 15%.

For foreigners who have been living in the country for years and are planning to buy their own apartment, this is one of the most sensitive announcements after ΔΕΘ. But for now, it is not possible to confidently deduce from the general formulation how the new rules will apply to each type of residence and each category of buyers.

What exactly are they going to increase?

We’re talking about real estate transfer tax – Φόρος Μεταβίβασης Ακινήτου, ΦΜΑ. It is usually paid by the buyer in a taxable transaction. This is not an annual property tax ENFIA or a tax on rental income.

According to Dnews with reference to the Prime Minister’s announcementthe new rate for third-country citizens is expected to be set at 15% from the beginning of 2027. IN today’s presentation of the explanations of the Ministry of Finance The measure is described in relation to the purchase of housing by citizens of countries outside the European Union.

The stated goal is to ease the pressure of external demand on the housing market. However, the tax increase itself does not guarantee a reduction in prices: the result will depend on the supply of apartments and on the behavior of sellers.

How much is this in money

Below is an arithmetic comparison of the basic tax for the same taxable value. This is not a final calculation of transaction costs: incentives, additional fees and transition provisions are not taken into account.

In other words, the tax rate increases fivefold, and not the cost of the apartment itself. The difference between 3% and 15% is 12 percentage points. On an object with a tax base of €200 thousand, this is an additional €24 thousand of the basic tax alone.

What works now

On AADE official page the base rate is stated at 3% of the taxable value. Additionally, a municipal tax of 3% of the amount of the basic tax is provided. Applying this additional fee to a future rate without checking the new regulation should not yet be applied.

The total purchase budget includes other expenses. Our material sorts them out about tax, notary, cadastre and transaction support. The announcement of a new rate does not eliminate the need to separately calculate each cost item.

Will the measure affect residence permit holders?

There is no comprehensive answer in the verified advertisements. Citizenship, tax residency and right of residence are different characteristics of a person. Therefore, the presence of a Greek residence permit in itself cannot be declared either a basis for exemption or proof of the inevitable application of 15%.

The final text should clarify the position of permanent resident foreigners, family members of EU citizens, first home buyers and multi-buyer transactions. The rules for contracts and advances drawn up before the changes took effect are especially important.

Nor should you automatically transfer a housing advertisement to any land or commercial property: the purpose of the property matters, and the exact scope is determined by the regulation.

What to consider when preparing your purchase

The buyer needs a calculation based on his status, the object and the planned date of the contract. The intermediary’s promise “we will do it at the old rate” does not replace the verification of transitional provisions by a notary.

Order filing a tax return through myPROPERTY And general purchasing roadmap remain useful guides. But the financial part of the future deal will need to be updated after the publication of the final terms: now 15% is an announced measure for 2027, and not a basis for charging a new tax to every foreigner today.

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