Greece to Hike Property Tax for Non-EU Buyers, Impacting Israelis
Translated & summarized from Ice by baba
Greece is proposing a significant increase in property purchase tax for non-EU/EEA buyers, including Israelis, from 3% to over 15%. This measure aims to cool down a housing market that has seen prices rise by about 50% since 2021. The higher tax could add tens of thousands of euros to property deals. While purchasing through a Greek company might offer an alternative, the final law's details remain uncertain for ongoing transactions.
The story in 6 lines · by baba
- Greece plans to raise property tax for non-EU buyers from 3% to 15.45%.
- The move aims to address a 50% rise in Greek property prices since 2021.
- Israeli investors' property purchases in Greece reached 88 million euros in 2025.
- The tax hike could add over 24,000 euros on a 200,000 euro property.
- Purchasing via a Greek company may be a way to avoid the increased tax.
- The new tax applies based on tax residency, not nationality alone.
Greece is set to significantly increase the property purchase tax for buyers from outside the European Union and European Economic Area, a move that will affect Israeli investors. The proposed legislation aims to curb rising housing prices, which have surged approximately 50% between 2021 and 2025, with a further 5.5% increase in the second quarter of 2026 compared to the previous year. Israeli investments in Greek property reportedly reached 88 million euros in 2025 alone.
The Greek government plans to raise the property purchase tax from the current 3% to 15%, with an additional local levy bringing the total to 15.45%. This increase is intended to make it harder for foreign buyers to acquire properties, thereby freeing up more homes for local residents. For example, the tax on a property valued at 200,000 euros could jump from around 6,180 euros to approximately 30,900 euros, an increase of over 24,700 euros.
The new tax applies based on an individual's tax residency, meaning an Israeli citizen living and paying taxes in Israel would still be subject to the higher rate, even with a European passport. However, the proposal does not explicitly block investments made through a Greek company, which would continue to pay the standard tax rate. Establishing a company involves its own costs and tax implications, and the final wording of the law may still change.
This measure follows previous tightening of conditions for Greece's "Golden Visa" program, which requires significant real estate investment for residency permits. In popular areas like Athens and Thessaloniki, the minimum investment for a Golden Visa has risen to 800,000 euros, and 400,000 euros in other regions. The current proposal targets even those Israelis looking to buy property without seeking residency.
For Israelis who have already purchased property, the new tax will not apply retroactively. However, individuals currently in the process of buying property, especially those whose transactions are set to close next year, face uncertainty regarding the final tax amount they will have to pay.
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