Greece expands housing support and tax changes
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The Greek government is introducing a series of measures to support housing affordability and regional development across the country.
The government will launch “Home III,” a 2 billion euro program offering low-interest loans for first-time homebuyers. This program raises the age limit for applicants to 55 and increases the maximum loan amount to 230,000 euros, while also increasing the maximum property value to 300,000 euros and square footage allowances for large families.
Alongside this, the government is extending existing measures for long-term rentals and home renovations, and freezing VAT on new buildings for an additional four years. In an effort to revitalize rural areas, the government will eliminate property tax (ENFIA) for 131 additional settlements, benefiting around 62,000 property owners. Officials believe this will encourage people to stay in or return to peripheral regions.
To address investment pressures, the government will increase the transfer tax on property purchased by citizens of non-European Union countries from 3% to 15% starting in July 2027. This change will not affect EU citizens, long-term residents, or purchases of commercial properties. The government will also continue to offer tax breaks for vacant properties that are rented out and will not issue new short-term rental licenses in central Athens and Thessaloniki in 2027.
