Raising Purchase Tax in Greece and Cyprus

In depth

The Greek government is advancing a bill to raise the purchase tax on property for residents outside the European Union and the European Economic Area from 3% to 15%. According to Ice, housing prices in Greece rose by about 50% between 2021 and 2025, and the government aims, through the proposal, to cool demand.

According to TheMarker and Haaretz, the exact details of the law in Greece have not yet been set, but many investors are trying to complete deals before it takes effect.