Greece Prepares Property Value and Tax Updates for 2027
The Greek state is planning a comprehensive review of official property valuations and upcoming tax adjustments following a widening gap with market prices.
- Greek market prices have continued to rise, outpacing official property valuations.
- A formal adjustment of baseline property values is scheduled for the second half of 2027.
- Property transfer tax for non-EU buyers is set to increase to 15% starting July 1, 2027.
Israeli buyers and investors should note the upcoming rise in property transfer taxes for non-EU nationals scheduled for mid-2027, alongside anticipated adjustments to official property values across high-demand areas.
Widening Gap Between Market and Official Values
The Greek real estate market continues to see robust demand, creating a noticeable gap between actual transaction prices and the official baseline values used by tax authorities.
Data from the Bank of Greece indicates that apartment prices rose by 5.5% year-on-year in the second quarter of 2026, following higher increases in previous periods. Strong demand from both domestic and international buyers remains concentrated in central Athens, the southern coastal suburbs, Piraeus, Thessaloniki, and major tourist destinations.
Upcoming Structural Changes
Official reviews of property zones are slated to open after elections in the second half of 2027, aiming to bridge the gap with real market conditions. The process will also bring over 2,100 additional areas into the official valuation system for the first time.
Concurrently, starting July 1, 2027, the transfer tax rate for residential purchases by non-EU buyers will increase to 15%. This creates a timeline for investors from outside the European Economic Area to finalize transactions before the new rate applies.
Note: This is general information and does not constitute legal or financial advice.
Yavanet will keep updating from official sources.
