The Finance Ministry is planning to include an additional 2,000 districts across the country in the system of taxable property rates known as objective values.
Sources say that the whole of Greece will have been included in the system by the end of the first quarter of 2020, which means a total of some 7,500 districts will be incorporated.
Property surveyors will from now on undertake the adjustment of the taxable real estate rates known as objective values, according to a regulation submitted to Parliament on Thursday for ratification. This means that the extraordinary procedure employed in 2018 with the chartered surveyors will turn permanent as of 2019.
Property market professionals are expecting house prices in Greece to drop further by up to 25 percent in the next few years, reporting a sudden rise in supply of properties owing to the upcoming repossessions, while demand will continue to fall due to the recessionary measures of the new bailout agreement.