Greece Proposes 15% Property Tax Hike for Golden Visa Investors
Greece is considering a significant increase in property transfer tax, potentially raising the cost of residential real estate for non-EU Golden Visa applicants by tens of thousands of euros.
Greece is planning to implement a substantial increase in the property transfer tax for non-European Union buyers, a move that could significantly impact investors participating in its Golden Visa programme. The proposed change would see the upfront cost of residential real estate for these investors rise considerably.
Impact on Golden Visa Investors
The proposed tax adjustment could add tens of thousands of euros to the cost of purchasing property. For example, the 15% property tax could translate to an additional €96,000 for an €800,000 home, making the investment threshold for the Golden Visa program effectively higher.
This measure is specifically aimed at non-EU buyers, which includes a large segment of Golden Visa applicants seeking residency through real estate investment. The increased tax burden is expected to influence investment decisions and could shift the landscape for those considering the Greek Golden Visa route.
The Greek Golden Visa programme has been a popular option for investors looking for EU residency, and the potential increase in property acquisition costs marks a significant policy change. Investors will need to factor in this higher upfront tax liability when evaluating their investment strategies in Greece.
Questions, answered
- What is the proposed property tax increase in Greece?
- Greece is proposing a **15% increase in property transfer tax** specifically for non-EU buyers, impacting those applying for the Golden Visa programme.
- Who will be affected by this new tax?
- The new tax will primarily affect **non-EU buyers** of residential real estate in Greece, including individuals participating in the Golden Visa residency-by-investment programme.
- How much could the tax increase add to a property purchase?
- The proposed 15% property tax could add a significant amount, for instance, an estimated **€96,000 to the cost of an €800,000 home**.
- What is the purpose of the Greek Golden Visa?
- The Greek Golden Visa programme offers **residency in the European Union** to non-EU investors in exchange for a significant investment, often in real estate.
This brief was summarised and rewritten by Gaia Living from public reporting. Figures and details reflect the original sources.
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