Property Transfer Tax in Greece: What Buyers Pay in 2026

How is Greek property transfer tax calculated?

The Greek tax is called φόρος μεταβίβασης ακινήτου (ΦΜΑ), commonly abbreviated to FMA.

The Independent Authority for Public Revenue (AADE) specifies two components:

For example, if the taxable value is €300,000:

Main transfer tax: €300,000 × 3% = €9,000.

Municipal levy: €9,000 × 3% = €270.

Total property transfer tax: €9,270.

The municipal levy is not another 3% of the property's value. It is calculated on the tax itself.

Source: AADE — Real Estate Transfer Tax.

What this means for a buyer

When calculating your purchase budget, use 3.09% for an ordinary transaction subject to the current standard transfer-tax rate, not 3%. But confirm the taxable value before treating the result as your actual tax bill.

Is transfer tax based on the purchase price or the Objective Value?

This is one of the most important distinctions in a Greek property purchase.

Greece uses a statutory property-value system known as Objective Value (αντικειμενική αξία) in areas covered by that system.

Objective Value is calculated under government rules for taxation. It is not a professional market valuation and does not establish what a property would sell for.

According to the Greek government's official guidance, in areas covered by the objective-value system, transfer tax is calculated using the Objective Value unless the contractual purchase price is higher. In that case, the higher contractual price is used.

In practical terms, the taxable basis is generally:

The higher of the contractual purchase price and the applicable Objective Value.

Outside areas covered by the objective-value system, a different assessment procedure applies, involving the declared value and possible tax-authority assessment.

Source: Gov.gr — Real Estate Transfer Tax.

Worked example: Two properties with the same purchase price

Consider two hypothetical resale apartments, each purchased for €300,000 and subject to the ordinary 3.09% effective rate.

Illustrative calculations, not actual properties or assessed tax returns. Both examples assume the objective-value system applies and no exemption or special treatment is available.

The same purchase price produces a €927 difference in transfer tax.

What this means for a buyer

A discount negotiated with the seller does not necessarily reduce the transfer tax by the same proportion.

Before committing to a final purchase budget, ask the notary to confirm the applicable taxable value and the calculation used for your specific property.

Who pays the transfer tax, and when?

The buyer is the person legally responsible for Greek property transfer tax.

Before the final notarial deed is drawn up, a property transfer tax declaration must be submitted. This is a joint declaration involving the buyer and seller.

For transactions covered by the digital procedure, the notary submits the declaration through myPROPERTY, AADE's digital property-tax system.

AADE states that the tax must generally be paid in full within three working days following submission of the declaration or issuance of the relevant tax assessment. Payment must be dealt with before the transfer contract is executed.

Sources: AADE — Real Estate Transfer Tax and AADE — myPROPERTY guidance.

What this means for a buyer

The transfer tax is not a cost to discover at the final signing appointment. It should already be part of the funds available to complete the purchase.

Ask the notary when the declaration will be submitted, what amount will become payable and what evidence of payment you should retain.

Can a foreign buyer qualify for a first-home transfer tax exemption?

Possibly, but the exemption must not be assumed merely because this is the buyer's first property in Greece.

Greek law provides a first-residence exemption subject to conditions involving the buyer, qualifying family members, other property rights, nationality or residence status, and the intended use of the home.

AADE's published guidance includes exemption limits of €200,000 for an unmarried eligible buyer and €250,000 for a married eligible buyer purchasing a residence, with possible increases depending on family circumstances.

Crucially, AADE also requires the buyer to reside permanently in Greece or intend to settle there within two years of purchase.

The exemption is available to specified categories of eligible buyers, including EU and EEA citizens, but nationality alone does not establish eligibility.

Source: AADE — First-residence exemption and eligibility.

What this means for a second-home buyer

If you live in Germany, the Netherlands, the United Kingdom or the United States and plan to use the Greek property primarily as a holiday home, do not assume you qualify for a first-residence exemption.

Your notary or Greek tax adviser should confirm eligibility from your actual circumstances before any exemption is included in your budget.

Is Greece introducing a 15% transfer tax for some foreign buyers?

Yes, Greece has published a draft law proposing a substantial increase in transfer tax for certain residential purchases. As of 28 October 2026, it is not yet enacted law.

The proposal was first announced in September 2026 as part of the Greek government's measures addressing housing affordability. On 18 October 2026, the Ministry of National Economy and Finance published draft legislation for public consultation.

The consultation runs until 1 November 2026, with the Ministry stating its intention to legislate during November. Parliamentary approval and publication in the Government Gazette are still required.

The relevant provision is Article 16 of the draft bill, which would add paragraph 1A to Article 27 of Law 5219/2025, Greece's Property Tax Code. The proposed commencement rule is contained in Article 48.

Sources: Greek Ministry of Finance — Consultation announcement, 18 October 2026 and Taxheaven — Analysis of Articles 16 and 48.

What exactly would change?

The proposal would raise the main transfer-tax rate from 3% to 15% when an individual buys a residential property and is tax resident in a country outside both the European Union and the European Economic Area at the time the tax liability arises.

The existing Property Tax Code also imposes a municipal levy equal to 3% of the transfer tax due. The draft does not amend that levy provision, so the proposed combined effective rate would be 15.45% if enacted without changes.

The higher rate is not a tax on foreign ownership generally. It is a proposed acquisition tax for a defined type of purchase and buyer.

Who would be affected?

The most important detail in the published draft is the distinction between tax residence and citizenship.

Earlier government announcements described the measure as targeting third-country nationals. However, Article 16 of the October draft uses a different test: whether the individual is tax resident outside the EU and EEA when the tax liability arises.

On the draft's wording, the following situations illustrate the difference:

These examples illustrate the draft's tax-residence test. They do not determine anyone's legal tax-residence status or eligibility for an exemption.

The EEA includes the EU member states plus Iceland, Liechtenstein and Norway. The United Kingdom and Switzerland are outside the EU and EEA.

A British or American passport does not automatically establish tax residence in Britain or America. Equally, holding an EU passport does not necessarily mean the buyer is tax resident in the EU.

The discrepancy between the original citizenship-based political announcement and the tax-residence wording of the published draft is particularly relevant to dual nationals, Greek citizens living abroad and foreign nationals living in Greece. The final enacted provision, rather than the earlier announcement, must be checked before determining liability.

Which types of purchases would be covered?

The proposed provision is specifically directed at the purchase of a residence by a natural person.

On its published wording, it does not impose the higher rate on every real-estate transaction.

The distinction includes:

• Residential purchases by individuals who meet the proposed tax-residence test: within the stated scope.
• Commercial premises such as offices and shops: not within the stated residential scope.
• Land plots and agricultural land: not expressly covered by the higher residential rate.
• Purchases by companies: not within this provision's direct reference to natural persons.
• Gifts and inheritances: not ordinary purchases covered by this transfer-tax provision.

The fact that companies are outside the direct wording should not be interpreted as a recommendation to purchase through a company to avoid the tax. Company acquisitions have their own legal, accounting, taxation and beneficial-ownership considerations, and any applicable anti-avoidance rules require professional assessment.

The proposal also does not establish a separate Golden Visa exemption. A buyer considering a residence-permit-linked purchase should not assume that immigration eligibility changes the property-transfer tax treatment.

When would the new rate begin?

The draft proposes applying the higher rate to final purchase contracts executed from 1 July 2027.

That date is important because a buyer may negotiate a purchase months before the final deed is signed.

Consider an illustrative timeline:

Under the current draft's commencement wording, a qualifying residential transaction completed by final deed in August 2027 would fall within the proposed higher-rate period, despite the earlier preliminary agreement and deposit.

Signing a preliminary agreement before 1 July 2027 should not be assumed to preserve the existing tax rate.

Any eventual transitional provisions, exceptions or changes to commencement dates must be checked against the law as finally enacted.

How much more could a foreign buyer pay?

The difference can be substantial.

Consider three hypothetical residential purchases. Each assumes that the stated amount is also the taxable value, that the higher rate applies to the buyer, and that there is no applicable exemption.

Illustrative scenario based on the draft, not a tax currently payable under enacted legislation.

For a €300,000 taxable residential purchase, the proposed higher rate would increase the transfer tax from €9,270 to €46,350 — a difference of €37,080.

That difference is separate from notary charges, legal and engineering fees, any agreed estate-agent commission, registration expenses and other purchase costs.

This is why a buyer planning a transaction that may complete after the proposed commencement date should model the possible increased tax before making binding financial commitments.

What remains uncertain?

The draft establishes a proposed rate and commencement date, but several issues still require attention before a buyer can rely on them:

1. Final legislative wording. The bill may be amended during consultation or parliamentary consideration.
2. Individual tax-residence determination. Complex situations involving dual residence, recent relocation or competing residence claims may require documentary and professional assessment.
3. Citizenship and special statuses. The draft's tax-residence wording must be reconciled with earlier government descriptions and any provisions included in the final legislation.
4. Exemptions and special transactions. The interaction with existing exemptions and transaction-specific tax rules must be verified.
5. Transitional arrangements. Buyers with preliminary agreements or deposits before 1 July 2027 need confirmation of the rules applying to their final deed.

The existence of a publicly released draft is not proof that every aspect of the eventual law is settled.

What this means for a buyer

If you are considering a Greek residential property purchase with a possible completion date in the second half of 2027, establish your likely tax-residence treatment and model the potential higher rate alongside the current standard rate.

Ask an independent Greek notary or qualified tax adviser to confirm the applicable legislative status, tax-residence evidence, transaction scope and expected tax liability before entering into commitments.

The sensible approach is to budget for a legislative risk that could materially change the cost of acquisition — not to treat a draft as law, or to assume it will remain unchanged.

Does every Greek property purchase fall under transfer tax?

No.

A straightforward resale will commonly be subject to transfer tax, but different transactions can have different tax treatments.

In particular, a qualifying new-build sale may involve VAT rules rather than the standard transfer-tax treatment. The applicable position depends on the property, the seller, the transaction and the statutory regime in force at completion.

Do not apply both taxes automatically or assume that every newly constructed property is taxed the same way.

For the separate treatment of new-build purchases, see our guide to New-Build VAT vs Transfer Tax in Greece.

What should you confirm before setting aside the money?

Before treating any transfer-tax calculation as final, establish the actual figures and legal assumptions.

• Transaction type: Is this a resale subject to transfer tax, or a purchase potentially subject to a different regime?
• Contractual price: What amount will appear in the purchase deed?
• Taxable value: What Objective Value or alternative assessed value applies?
• Buyer eligibility: Does any first-residence exemption or other relevant treatment apply?
• Timing: When will the final deed be signed and when must the tax be paid?
• Tax residence: Could a future change in law affect the purchase if completion is delayed?
• Notary confirmation: Has the calculation been checked for the exact property and buyer?

A useful early budget can be estimated. The final taxable amount should be verified through the actual transaction documentation.

What transfer tax cannot tell you

The taxable value is a tax calculation input, not a professional opinion about market value.

Paying transfer tax does not verify the property's legal title, cadastral accuracy, building permits, technical condition or the fairness of the agreed price.

Those are separate questions requiring different evidence and, where appropriate, independent professional checks.

The distinction matters: a legally completed tax payment is not proof that every other risk in the property purchase has been resolved.

Related guides

For the wider purchase budget, read Costs of Buying Property in Greece. For the tax-value calculation itself, see Objective Value in Greece. To understand how tax values differ from listing and transaction evidence, read Asking Prices vs Actual Property Transactions.

Buyers preparing to purchase can also review Greek AFM for Property Buyers before arranging the transfer-tax declaration.

Final point: Confirm the tax basis, buyer-specific treatment and applicable law with a Greek notary or qualified tax adviser before signing. This guide explains the system; it does not determine the tax liability of an individual transaction.