I recently read that Greece may raise the property transfer tax for non-EU buyers from 3% to 15% in July 2027. Is this similar to Spain’s proposed 100% tax, or should buyers rush to purchase before then?
Spain’s target was non-resident buyers not “foreign buyers” so it depends on the Greek legislation detail and possibly where the purchaser is resident.
I think the two proposals are quite different in scale. A jump from 3% to 15% in Greece would definitely make a big difference to the total buying cost, but it is still far from Spain’s proposed 100% surcharge. Also, neither policy should be treated as guaranteed until the final rules are approved. Spain’s proposal has already faced political problems, so I would be careful about rushing into a purchase based only on headlines.
For anyone seriously considering Greece, it probably makes more sense to compare the extra tax with the actual property price and other buying costs, then decide based on the property itself rather than trying to beat a possible deadline.
That is a pretty big jump from 3% to 15%. I’d be cautious about rushing into a purchase until the final rules and effective date are confirmed. For anyone already considering Greece, it probably makes sense to compare the total costs now and see how much the tax change would actually affect the deal.
Exactly. Spain’s proposal targeted non-resident, non-EU buyers, so the details matter. Greece could be different depending on how the final legislation defines the affected buyers.