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Greece to Fivefold Real Estate Tax for Non-EU Buyers, Including Israelis
Greece plans to quintuple its real estate purchase tax for non-EU buyers, including Israelis, from 3% to 15%, effective July 2027. Prime Minister Kyriakos Mitsotakis cited rising property prices and housing affordability issues for Greeks as reasons for the change.
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What happened
- 01Greece will raise real estate purchase tax for non-EU buyers from 3% to 15% starting July 2027.
- 02Prime Minister Kyriakos Mitsotakis cited Israeli, Chinese, and Turkish investors for rising property prices.
- 03The tax hike aims to cool foreign demand and address housing affordability for Greeks.
- 04Previous measures included raising the Golden Visa investment threshold to €800,000 in key areas.
- 05Experts advise acting quickly before the new tax takes effect, though market fundamentals may remain strong.
- 06The legislation is not yet finalized and potential exemptions are being considered.
The move follows previous restrictions on foreign investment and Golden Visas. While the legislation is not final, experts advise potential buyers to act quickly, though some believe the market's fundamentals will remain strong.
The Jerusalem Post publishes in English. The key points are summarized above. Read The Jerusalem Post’s full report from the link below.
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