The Golden Visa remains one of Greece’s main residence-by-investment routes for non-EU nationals, but the investment environment may soon become more expensive for property buyers from third countries.
In September 2026, Prime Minister Kyriakos Mitsotakis announced a proposal to increase the property transfer tax applied to buyers from outside the European Union from 3% to 15%. The measure was presented as part of a broader housing policy aimed at easing pressure on residential property prices.
Importantly, this announcement should not be confused with a confirmed change to the Golden Visa investment thresholds themselves. As of September 2026, the proposal concerns the property transfer tax, and implementing legislation will determine its precise scope, timing and any exemptions.
How the Current Golden Visa Framework Works
Under the current property-based Golden Visa rules, investment thresholds vary according to location and type of property.
In high-demand areas, including Attica, Thessaloniki, Mykonos and Santorini, as well as Greek islands with populations above 3,100, the minimum qualifying property investment is generally €800,000. In other parts of Greece, the threshold is generally €400,000. For these routes, the investment is normally required to concern a single property with at least 120 square metres of main residential space.
A separate €250,000 route remains available for certain investments, including properties converted from commercial to residential use and qualifying listed buildings requiring restoration or reconstruction. For a qualifying change-of-use property, the official administrative framework confirms a minimum acquisition value of €250,000 and states that the 120-square-metre requirement does not apply.
The residence permit is generally valid for five years and can be renewed while the relevant investment conditions continue to be satisfied. The investor permit itself does not provide a right to employment in Greece.
What Mitsotakis Proposed in 2026
At the Thessaloniki International Fair on 6 September 2026, Mitsotakis announced the government’s intention to raise the property transfer tax from 3% to 15% for buyers from third countries outside the EU. He framed the measure as a disincentive intended to address pressure on housing affordability and property prices.
Because Golden Visa property investors are, by definition, third-country nationals, the proposal could substantially increase the acquisition cost of a qualifying property if Golden Visa transactions are included without a specific exemption.
For illustration only, under a simple 3% versus 15% comparison:
| Property value | 3% transfer tax | 15% transfer tax |
| €250,000 | €7,500 | €37,500 |
| €400,000 | €12,000 | €60,000 |
| €800,000 | €24,000 | €120,000 |
These figures illustrate the scale of the proposed change rather than the final tax payable in an individual transaction. The taxable base, municipal surcharges, exemptions, VAT treatment and eventual legislation can affect the actual amount.
Could the Change Affect Golden Visa Demand?
If implemented broadly, the proposal would change the economics of property-based investment without necessarily changing the headline Golden Visa thresholds. An investor purchasing an €800,000 property could face a much larger upfront tax burden, making transaction costs a more significant part of the investment decision.
There is also an important policy question surrounding properties that add housing supply, such as commercial buildings converted into residences. Some legal and property-market commentators have argued that these investments should be treated differently because they can create new housing stock rather than remove an existing home from the market. That, however, is currently an argument about how the proposal should be designed, not a confirmed exemption.
The distinction is particularly relevant because the €250,000 change-of-use route was designed to encourage the conversion of non-residential buildings into homes. The government’s eventual legislation will therefore determine whether these investments are also subject to the proposed 15% transfer tax.
What Prospective Investors Should Do Now
Anyone considering a Golden Visa in Greece should separate three different elements when calculating the investment: the qualifying purchase price, the taxes and transaction expenses, and the immigration requirements.
The existing €250,000, €400,000 and €800,000 thresholds continue to form the basis of the current property routes. The newly announced 15% tax is, at this stage, a proposed change to the taxation of property acquisitions by non-EU buyers rather than an announced replacement of those Golden Visa thresholds.
Prospective buyers should therefore obtain updated legal and tax advice before signing a preliminary agreement or paying a deposit. The final legislation will be critical in determining when the new rate takes effect, which transactions it covers, whether transitional arrangements apply and whether particular Golden Visa categories receive different treatment.
For investors, 2026 may consequently mark an important transition point: Greece continues to offer residence through qualifying property investment, but the total cost of entering the Golden Visa programme could rise considerably if the proposed tax increase becomes law in its announced form.
