New objective values already outdated

The spread between the taxable rates of properties, known as "objective values," and market prices is widening again, just two years after the last adjustment of the former, which started applying from January 2022.

This development is recorded mainly in the expensive areas of the center of Athens and the southern and northern suburbs of the capital.

Now, in good downtown areas, sale prices are more than double the official zone prices.

For example, a detached house in Plaka of 177.06 square meters recently sold for almost double its objective value. The property was purchased for 1.5 million euros, or €8,472/sq.m., when the zone rate in the area is €4,800/sq.m.