Property

The number of properties listed for sale significantly outweighs those available for rent in areas with substantial housing inventory, data show, indicating a reluctance of homeowners to rent out their properties.

The trend, according to data from the Spitogatos.gr website, is most notable in the western suburbs of Athens, known for their affordability to a broad demographic.

The Treasury and Finance Ministry has started to collect information from tenants in order to accurately determine rental income.

The ministry, which sent letters to tenants asking for a meeting about rents, has now told tenants, "You do not need to come to the ministry, you can fill out a form online."

Just before the calculation of the new Single Property Tax (ENFIA), the tax administration calls on property owners to correct errors and omissions that can lead to the reduction of their dues.

Short-term rental hosts declared 33% more revenues to the tax authorities in the first 10 months of last year than they did the year before, official data have shown.

A series of changes are expected in the way property owners are taxed from the beginning of 2024, with most of them focusing on facilitating citizens. Interventions that will change the map in the short-term rental market are also imminent.

All online platforms, Greek and foreign, selling goods and services, must send transaction data involving Greek individuals and companies to the Independent Public Revenue Authority (AADE), a draft bill provision states.

Property transactions are thriving, as official data show, and real estate professionals say that a great part of the growth is driven by foreign investors.

By August 10, with not quite two-thirds of the year gone, there have been 112,000 property transaction, while in the whole of 2022 139,000 sale contracts had been signed, up from about 105,000 in 2021 and 75,000 in 2020.

The president of the Supreme Court, Ioanna Klapa, weighed in on Saturday on the issue of widespread zoning and environmental violations on the country's beaches and coasts, calling on judicial authorities to see that justice is administered on an issue that has been at the forefront of the news this summer.

The government is about to initiate changes in the legal framework and possibly taxation for some 145,000 residences in Greece.

Property owners are increasingly turning to short-term leasing as a result of the recent extension of the annual rent increase cap, as the figures fall far below market value.