U.S. buyers accounted for 12% of the non-dom property transactions recorded by Greece Sotheby’s International Realty from 2024 through the first half of 2026, behind the United Kingdom’s 53% share.
Buyers from Switzerland, Turkey, Denmark, Italy, Greece and Germany each represented about 6% of the brokerage’s non-dom deals over the same period, according to its midyear report on the Greek luxury residential market.
The figures describe one firm’s luxury-property transactions, not the national market. Greece Sotheby’s specializes in high-end homes, and its records cannot establish how many people have entered the tax program across Greece or how much they have invested overall.
The firm says its non-dom classification is based on information supplied by buyers at the inquiry or contract stage and checked against later legal documents where available. It does not disclose the number of transactions behind the percentages.
In 2024, non-dom clients accounted for 17% of the firm’s completed deals and 14% of transaction value. Their share rose in 2025 to 21% of deals and 29% of value, meaning non-dom deals had a higher average value than the firm’s transactions overall.
During the first half of 2026, non-dom clients represented 14% of deals and 10% of transaction value. The brokerage cautions against comparing the partial-year figure directly with the completed 2024 and 2025 totals.
How the non-dom program works
Greece’s non-dom arrangement allows qualifying people who transfer their tax residence to the country to pay a fixed annual tax of €100,000 on income earned abroad, regardless of the amount. The arrangement can remain in effect for up to 15 tax years. Income arising in Greece remains subject to the country’s regular tax rules, according to the Independent Authority for Public Revenue.
Applicants generally must not have been Greek tax residents during seven of the previous eight years. They must also complete an investment of at least €500,000 within three years, using real estate, businesses, securities or shares in Greek-based entities. Property is therefore one route into the program, but it is not mandatory.
The arrangement is separate from Greece’s Golden Visa. The Golden Visa program is a residence-permit route for qualifying third-country investors, while the non-dom program concerns tax residence and foreign-source income.
A government decision published on July 20 revised the application procedure. People who transfer their tax residence by July 2 may apply by September 30 for inclusion in that tax year or the next. Those transferring after July 2 may apply only for the following tax year.
The tax administration must examine an application within 60 days and issue its decision no later than the last working day of November.
Why British buyers dominate
Greece Sotheby’s links the large British share to tax changes that took effect in the United Kingdom on April 6, 2025.
Britain replaced its former domicile-based remittance system with one based on tax residence. Under the new UK rules for foreign income and gains, qualifying arrivals who have not been UK tax residents during the previous 10 years may receive relief during their first four years of residence. Longer-term residents who do not qualify generally became taxable on worldwide income and gains as they arise.
The brokerage report says the number of inquiries from UK buyers rose 60% during the first half of 2026. British clients accounted for 17.4% of all inquiries, up from 14.7% a year earlier.
The timing makes the UK tax change a plausible factor, but the report does not establish why each client moved or purchased property in Greece. Its claim that the pattern reflects a direct relocation of wealth is the firm’s interpretation, not an independently established finding.
The firm also says non-dom clients are adding new demand rather than replacing other activity in the luxury market. National transaction and housing data do not establish that conclusion.
What the American share means
For U.S. citizens considering a move to Greece, the tax calculation is more complicated.
The Internal Revenue Service generally requires U.S. citizens and other U.S. tax residents to report their worldwide income while living abroad. Greece’s €100,000 flat-tax arrangement does not remove the obligation to file a U.S. return or automatically eliminate U.S. tax liability.
Foreign tax credits and other provisions may reduce double taxation, depending on the type of income, the taxes paid and the person’s circumstances. Not every foreign tax necessarily qualifies for a full U.S. credit. Anyone considering the Greek program would need coordinated advice covering both countries’ rules and the structure of the required investment.
The 12% U.S. share does not establish that these buyers are Greek Americans. The brokerage identifies some Australian and Canadian clients as Greek-heritage families purchasing property for eventual relocation or long-term family use, but it does not make the same connection for its American non-dom clients.
Greek households, meanwhile, continue to face broader housing pressure. Apartment prices rose by an average of 7.8% in 2025, after increasing by 9.1% in 2024, according to the Bank of Greece.
The brokerage figures cannot show whether non-dom purchases have materially affected ordinary home prices or rents. Its inventory is concentrated in the luxury market, including high-priced properties on the Athens Riviera and in Mykonos, Paros, Corfu and other destinations.
For now, the report captures a narrow part of the market: non-dom clients are visible in one brokerage’s luxury sales, led by buyers from Britain and the United States. It cannot establish the size or wider housing impact of the program nationwide.