Greece's 15% property tax from July 2027: what to do in time

What is known today

The tax on purchase is 3% today. The government has announced a 15% rate for non-EU buyers from 1 July 2027. Keep two things apart: the announcement has been made, but there is no law yet. Details may appear later, and we will not guess at them.

That uncertainty does not change what a buyer should do. Waiting for the law could cost the time you need to prepare. If you close before 1 July 2027, you buy at the current 3%, however the final text turns out.

Who is affected

The announced rate applies to non-EU buyers. A Vanuatu passport does not change that: a Vanuatu citizen buys as a non-EU person. The same goes for a buyer on a Russian passport.

The question matters most to people heading for Greek residence through a home purchase. A Russian passport does not allow that filing at present, while a Vanuatu passport does. So this reader will almost always face the new rate unless the purchase closes first.

What it means in money

Here is a simple calculation from the purchase price at the three residence thresholds. It is a guide, and the exact amount for a given property is set at the purchase. For a home priced above a threshold, the gap grows with the price.

Now add the Vanuatu program. A family of four pays $165 000 with the fee in the fund, or $185 000 in the contribution program. On top come the home and the tax: on a 400 000 € property that is 12 000 € now or 60 000 € at the announced rate. Documents, translations and bank fees are billed separately.

Residence thresholds in force

The purchase threshold depends on the location and type of property. It is 400 000 € for most of Greece and 800 000 € for Attica, Thessaloniki and the large islands. The 250 000 € threshold applies to commercial premises converted to housing and to listed monuments after restoration.

The new rate changes the arithmetic. Until now, buyers comparing regions looked mainly at price and threshold. After 1 July 2027 the tax would be added to any price gap, making a purchase in an expensive region noticeably heavier on the budget. That is one more reason to settle on a region early rather than in the last few weeks.

Counting back from 1 July 2027

The order of steps is fixed. A reservation and deposit can come before the passport, but the purchase and the residence filing are done on the Vanuatu passport. So the passport has to be ready before the purchase date.

The passport usually takes 2 months, 3 at most. Start only in April 2027, and even on a normal timeline there is almost no time left to choose a property and close. So plan the application well ahead, allowing for the property and the purchase.

What can move your dates

Two things stretch the process: a holiday in the middle of it and a slow money transfer. Both are in your hands, so you can plan them out. If time is short, arrange the payment and signatures in advance.

The 3-month window for payment and the oath is comfortable when nothing is pressing. Before 1 July 2027 it is unwise to use it all: a later oath means a later passport and less time for the purchase. Remember too that there is no power of attorney in the process, so every participant must be available to sign and to give biometrics in person.

Prepare the money early as well. The fee is paid at signing, and the contribution follows the contract schedule, in one payment or in parts. From Russia, payment does not go through banks in Russia or Belarus: the applicant pays personally from their own account abroad, in rubles through a broker, in cryptocurrency or from their own company account. Another company or someone else's card will not work.

Check your source of funds separately. Proof is required for every application, and the main applicant needs 6 months of statements, a bank letter, an asset report and related papers. Gather these at the last minute and your margin quickly disappears.

What to do now

The order can shift with your situation, but the core logic holds: passport before purchase, purchase before the date.

• Take the preliminary check: it is free and takes 1-2 working days.
• Settle the threshold and region: 400 000 €, 800 000 €, or 250 000 € for special properties.
• Choose the Vanuatu program for your family: contribution or fund.
• Prepare your source of funds, which is required for every application.
• Pay the reservation and deposit without waiting for the passport, if the property is already chosen.
• Close the purchase and file for residence on the Vanuatu passport before 1 July 2027.

If you do not have to buy

The new tax applies to purchases. If you do not need a home and your goal is to live in Greece, look at income-based residence: from 3 500 € a month, plus 20% for a spouse and 15% for a child, a 3-year card, and 6-12 months of income history. For Russian citizens, Greek lawyers check whether the application will be accepted.

Hungary remains a second residence option if Greece stops suiting you for any reason. It is best to compare the options before choosing a property, so that you do not pay a deposit on a home that later turns out to be unnecessary.

Common questions