Buying in Athens vs back home: cheap to buy in, for now

Right now, the tax on buying a flat in Athens is a fraction of NSW stamp duty. Greece has announced plans to change that for buyers without an EU passport.

The short version

• Australians can buy property in Greece. Most do it with a Greek tax number, a Greek lawyer and a notary.
• The single biggest cost difference: Greek transfer tax is 3% (3.09% with the municipal surcharge) of the taxable value [1][3], against NSW transfer duty of nearly 4% at A$1 million [7]. But the Greek government has announced a rise to 15% for non-EU buyers, expected in 2027 [1].
• A Greek passport, including one by descent, puts you outside that planned rate [1].
• Capital gains tax on property sales is suspended in Greece until the end of 2026 [2].
• Australia has no general tax treaty with Greece, which matters if you're still an Australian tax resident.

Can an Australian buy in Greece?

Yes. Australians buy apartments in Athens without needing a residence permit first. In practice you'll need a Greek tax number (AFM) and a Greek bank account to move the money, and almost everyone uses a local lawyer to check title, permits and debts on the property before the notary signs. Typical hunting grounds include Koukaki and Pangrati near the centre, Kolonaki for the polished end, and the southern suburbs towards Glyfada for sea air.

Buying to get residency is a separate question. Greece's Golden Visa now needs a single property worth at least €800,000 in Attica, which includes Athens, or €400,000 in most other areas [5]. There's a €250,000 route for buildings converted from commercial to residential use [5]. Properties bought for a Golden Visa can't be let short term or sublet, with a €50,000 fine and permit revocation for breaches [5].

The 15% plan and the Greek passport

In September 2026, Finance Minister Kyriakos Pierrakakis announced that transfer tax on homes bought by third-country nationals would rise from 3% to 15% (15.45% with the surcharge) [1]. Reports differ on the exact start date in 2027, and we couldn't confirm it had been passed into law by early November 2026. It's aimed at buyers from outside the EU and EEA without long-term Greek residency [1].

That's why Greek citizenship matters more than ever for Greek Australians. Greek citizens, EU and EEA citizens and long-term residents sit outside the planned rate, and they can also use the existing first-home exemption, which covers a first home up to €200,000 for a single buyer or €250,000 for a married buyer, with more per child [1]. Our Greek citizenship guide covers how to register.

Upfront costs side by side

Rates as at November 2026. Euro amounts with AUD at the Reserve Bank of Australia rate of €0.6228 on 5 November 2026.

Note the "objective value": Greece sets an official value for every property, and you pay tax on that or the price, whichever is higher [6].

Getting a loan

In Greece

Greek banks do lend for home purchases, but expect a non-resident foreigner to find far fewer doors open than a local, and plenty of foreign buyers in Athens pay cash. If you live and work in Greece with a Greek income, your chances improve. We couldn't verify a published loan-to-value cap for foreign borrowers; it's set bank by bank. If you plan to borrow, get a bank's view before you sign the preliminary contract.

Back home

Australian lenders will consider Australians living in Greece, though the pool of lenders is smaller, maximum LVRs are lower than for residents, and your euro income is usually shaded for currency risk. As a citizen, you don't need FIRB approval to buy a home in your own name, and NSW doesn't treat you as a foreign purchaser [8]. Our guides on foreign income and deposits cover the detail.

Holding costs

Short lets are popular around the Acropolis and the old town. Remember the Golden Visa ban if that's your route [5], and check the local short-stay registration rules if it isn't.

The Australian tax overlay

Australia's tax treaty list includes Greece only for airline profits, not general income tax. If you're still an Australian tax resident, your Athens rent is assessable in Australia as well as Greece. You can generally claim a foreign income tax offset for Greek tax paid, but without a treaty there's less protection if the two systems disagree. Most Australians who move to Athens for the long haul become foreign residents, but it isn't automatic.

Selling and tax

Greece

Greece's capital gains tax on property transfers by individuals is currently suspended, and the suspension runs until 31 December 2026 [2]. We couldn't confirm whether it will be extended again, so check before you plan a sale from 2027. There's no Greek seller's stamp duty; the buyer pays the transfer tax.

Australia

As a foreign resident when you sell, you generally can't claim the main residence exemption on an Australian home, even for years you lived there, unless the life events test applies [9]. Since 1 January 2025, the buyer must withhold 15% of the price on every Australian property sale unless you provide an ATO clearance certificate by settlement [10].

Currency risk

Euro proceeds converted to Aussie dollars on the day you sell can look very different from the day you bought. If you plan to retire to Australia, that's a real risk to your nest egg.

A worked example

Illustration only. We've used a €620,000 flat (about A$995,500 at the 5 November 2026 RBA rate) bought from a private seller, assuming the price is above the objective value, and a A$1,000,000 NSW home. Notary and lawyer fees are left out because they vary; agent and registry amounts use the typical percentages above. Note that €620,000 is below the €800,000 Golden Visa threshold for Athens.

The NSW sum: A$11,602 plus 4.5% of A$613,000 [7].

Today, the Athens tax bill is about half of NSW stamp duty, though the agent's fee closes the gap. Under the announced rate, a non-EU buyer would pay roughly three times what an Australian pays at home.

Which suits whom

Factors to weigh. None of them is a recommendation:

1. Your passport. A Greek or other EU passport may decide whether you pay 3.09% or 15.45%.
2. Timing. The VAT and capital gains suspensions run to the end of 2026, and the higher transfer tax is planned for 2027. Rules are moving fast.
3. Cash or loan. If a Greek bank won't lend, you're buying with savings or Australian equity, which brings its own currency risk.
4. Rental plans. Short lets, long leases and Golden Visa property all play by different rules.
5. Coming home. If you'll move back, a home in Australia might serve you better later. Check how the main residence rules apply to you before you sell.
6. Estate planning. Greek succession law differs from ours. Have wills that work in both countries.

Want to hear from Australians who've bought in Athens? Join Cooee Greece, our Facebook group for Australians in Greece, at /join/.

Sources

1. Golden Visa: new blow as Greece raises property transfer tax – OT.gr (8 September 2026)
2. Greece again extends real estate VAT exemption – VATCalc
3. Greece: Individual – Other taxes (reviewed September 2026) – PwC Worldwide Tax Summaries
4. Greece: Individual – Taxes on personal income (reviewed September 2026) – PwC Worldwide Tax Summaries
5. The Greek Golden Visa after the 2024–2026 overhaul – International Bar Association (September 2026)
6. Real estate in Greece: taxes and fees – PwC Greece
7. How to calculate transfer duty – Revenue NSW
8. Surcharge purchaser duty for individuals – Revenue NSW
9. Main residence exemption for foreign residents – Australian Taxation Office
10. Foreign resident capital gains withholding overview – Australian Taxation Office

Keep reading

• Renting in Athens as an Australian
• Greek citizenship by descent for Australians
• Deposit and LVR as an expat borrower: how much you need
• Buying the home you'll move back into