\n<\/p>\n
According to Greece Sotheby\u2019s International Realty<\/strong>, non-dom tax residents accounted for 29% of the agency\u2019s transaction volume in 2025<\/strong>. Until 2024, this category was virtually absent from the company\u2019s internal statistics. Within just two years, it has become one of the main sources of demand for luxury homes, particularly along the Athenian Riviera.<\/p>\n It is important to note that these figures reflect only Greece Sotheby\u2019s International Realty\u2019s own transactions<\/strong>, not the wider Greek real estate market. As the agency specialises in high-end properties, the data represents the behaviour of affluent international buyers rather than typical homebuyers in Athens or Thessaloniki.<\/p>\n Golden Visa applicants generally purchase property to secure Greek residency. Non-dom tax residents, however, relocate their tax residency to Greece and usually buy homes as their primary or long-term residence.<\/p>\n The regime is established under Article 5A of Greece\u2019s Income Tax Code<\/strong>, allowing qualifying individuals to pay a flat annual tax of \u20ac100,000<\/strong> on foreign-sourced income. An additional \u20ac20,000<\/strong> is payable for each dependent family member included in the scheme.<\/p>\n To qualify, applicants must invest at least \u20ac500,000<\/strong> in Greece. While this investment does not have to be in real estate, many wealthy families choose to purchase luxury homes while simultaneously transferring their tax residency.<\/p>\n According to Greece Sotheby\u2019s, the total value of non-dom transactions has already surpassed that of Golden Visa-related purchases, with the median acquisition price approximately double that of Golden Visa buyers.<\/p>\n All non-dom transactions recorded by Greece Sotheby\u2019s involved properties valued at more than \u20ac2.3 million<\/strong>, with around 88%<\/strong> taking place on the Athenian Riviera<\/strong>.<\/p>\n This reflects the profile of buyers relocating their tax residency, family and often part of their business operations to Greece. Rather than seeking investment properties, they are purchasing premium residences close to Athens International Airport, international schools, marinas and the capital\u2019s business districts.<\/p>\n The most sought-after locations remain Glyfada, Voula, Vouliagmeni<\/strong>, and nearby luxury developments, where supply remains limited and pricing is increasingly driven by international demand.<\/p>\n According to the agency:<\/p>\n Source: Greece Sotheby\u2019s International Realty transaction register, 2024 to the first half of 2026.<\/em><\/p>\n British nationals accounted for 53%<\/strong> of all non-dom buyers recorded by the agency. Greece Sotheby\u2019s attributes much of this increase to the abolition of the United Kingdom\u2019s non-dom tax regime in April 2025<\/strong>.<\/p>\n Following the changes, many wealthy UK residents began exploring jurisdictions offering favourable taxation of overseas income, including Greece, Italy, Switzerland and the United Arab Emirates.<\/p>\n During the first half of 2026<\/strong>, demand from British buyers for luxury Greek property increased by 60%<\/strong> compared with the same period in 2025. These figures relate only to enquiries and transactions handled by Greece Sotheby\u2019s, not national market data.<\/p>\n Law 5313\/2026<\/strong> introduced several changes to Greece\u2019s alternative tax residency regime, simplifying the application process.<\/p>\n The reforms revised application deadlines, payment procedures and administrative requirements. Previously, applications had to be submitted by 31 March<\/strong>. Eligible individuals may now apply throughout the year, although the timing of the application determines when the tax residency transfer takes effect.<\/p>\n The annual flat tax of \u20ac100,000<\/strong> is now payable by the last working day of December, replacing the previous requirement to pay within 30 days of approval.<\/p>\n The updated process was formalised through Decision A.1147\/2026<\/strong> of the Independent Authority for Public Revenue (AADE), with applications submitted digitally through the myAADE<\/strong> platform.<\/p>\n Greece Sotheby\u2019s argues that these high-net-worth buyers bring new capital into the country and do not directly compete with average Greek homebuyers. A purchaser spending \u20ac4\u20136 million on a luxury villa is not competing for apartments priced around \u20ac180,000.<\/p>\n However, indirect effects are becoming increasingly evident. Growing international demand is pushing up land values and the cost of premium developments in Athens\u2019 southern suburbs. Developers are also becoming more inclined to focus on luxury projects rather than affordable housing.<\/p>\n The arrival of wealthy residents also boosts demand for private schools, healthcare, security services, hospitality and domestic staff, generating economic activity and employment while widening the gap between the luxury and mainstream housing markets.<\/p>\n It is also important to note that the 29% figure<\/strong> refers solely to Greece Sotheby\u2019s transaction volume in 2025 and should not be interpreted as representing 29% of all luxury property sales across Greece.<\/p>\n The rise of non-dom buyers reflects a shift in Greece\u2019s approach to attracting international capital. While the Golden Visa programme was previously the country\u2019s primary tool for drawing foreign property investors, the focus is increasingly shifting towards attracting individuals who relocate both their wealth and their tax residency.<\/p>\n For the Greek government, these residents offer greater long-term economic benefits through annual tax contributions, substantial investment and ongoing domestic spending.<\/p>\n For the luxury property market, the trend is expected to support continued demand along the Athenian Riviera and for premium homes on Greece\u2019s most sought-after islands. The impact on the broader housing market is likely to remain indirect, influencing land values, development priorities and international investment rather than mainstream residential sales.<\/p>\n The key takeaway is that the non-dom tax regime has emerged as an independent driver of Greece\u2019s luxury property market<\/strong>, with buyers purchasing significantly more expensive homes than Golden Visa investors and choosing properties primarily for long-term residence rather than investment.<\/p>\nNon-dom buyers versus Golden Visa investors<\/h2>\n
Every recorded purchase exceeded \u20ac2.3 million<\/h2>\n
British buyers dominate the market<\/h2>\n
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\n \nIndicator<\/th>\n Non-dom (Article 5A)<\/th>\n Golden Visa<\/th>\n<\/tr>\n<\/thead>\n \n Total transaction value<\/td>\n \u20ac58.2 million<\/td>\n \u20ac18.9 million<\/td>\n<\/tr>\n \n Median transaction value<\/td>\n \u20ac2.95 million<\/td>\n \u20ac1.50 million<\/td>\n<\/tr>\n \n Minimum purchase price<\/td>\n \u20ac2.33 million<\/td>\n \u20ac900,000<\/td>\n<\/tr>\n \n British buyers<\/td>\n 53%<\/td>\n \u2014<\/td>\n<\/tr>\n \n Purchases on Athenian Riviera<\/td>\n 88%<\/td>\n 100%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n Legislative changes simplify the regime<\/h2>\n
Limited impact on the broader housing market<\/h2>\n
A new strategy for attracting foreign investment<\/h2>\n