Real estate valuation
The available properties are “disappearing” in the big cities of Greece
Thessaloniki is the “champion” with the largest annual decrease in the number of available properties in 2023, whether it’s for rent or for sale, in all property categories
Scrutiny tightened over citizenship-related estate sales
An association of the Capital Markets Board (SPK) has intensified its investigations on both the real estate sector and entities producing valuation reports after extensive profiteering and manipulations were detected, particularly in property sales to foreigners seeking Turkish citizenship, a senior official has said.
PM Mitsotakis: New generous reduction of ENFIA property tax by 13%
Permanent reduction of ENFIA property tax by 13% was announced by Prime Minister Kyriakos Mitsotakis.
The statement of Kyriakos Mitsotakis is as follows:
Pandemic-Fueled Bicycle Boom Coasts Into 2021 (infographic)
Annual rates in US
New ENFIA cut may be put off
The scenario concerning the postponement of reforms to the real estate market's taxation system is back on the table. Given that the coronavirus pandemic has locked down economic activity and reduced property transfers to a bare minimum, the argument that it is impossible to make correct valuations of property values is increasingly gaining ground.
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Objective values to raise prices in 2,000 areas
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.
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More hikes are expected in objective values
The Finance Ministry is expected within the month to invite chartered property surveyors to express their interest in the process of a new adjustment of property rates used for tax purposes, known as "objective values," which will go into force at the end of June.
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New year to bring new property rates set by surveyors
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.
Finance Ministry considers phasing in property tax rise in two stages
The Finance Ministry is examining new strategies regarding the new "objective values" (property rates used for tax purposes), as the plan for two separate sets of values for each property appears to be a nonstarter, while the country's creditors are pushing for an automatic mechanism to revise the rates.
Mid-June date given for new objective values for properties
The new "objective values" (property rates used for tax purposes) will be published on June 14, a senior Finance Ministry official revealed on Tuesday, which is also likely to lead to considerable delays in the issue of notices for this year's Single Property Tax (ENFIA).