Real property law

The National Economy and Finance Ministry is giving taxpayers who want to close any tax cases pending in the courts with favorable terms and summary procedures the chance to do so, by extending the operation of the out-of-court resolution committee for tax disputes.

Revenues from the accommodation tax imposed on hotels, rooms for rent and short-term rentals are increasing, according to the 2024 budget.

The house price rally has inflated the expectations of rental property owners who are trying to maximize their monthly income. Comparing the prices asked in classified ads with those included in lease agreements, it turns out that the discrepancies are large.

As the year comes to a close, it seems likely that the freeze on foreclosures on primary homes in Cyprus valued at up to 350,000 euros will be extended.

The online E9 form property owners have to forward to the tax authorities is now automatically completed and submitted for taxpayers who sell or buy real estate.

High rents are not the only problem tenants looking for a new apartment have to deal with in Türkiye, as those who are lucky enough to find a house they can afford also need to meet several "tough" conditions imposed by landlords before they move in.

Property owners started to seek additional assurances from potential occupants last year as some tenants failed to pay their rents.

Thursday, August 31, at 3 p.m., is the final deadline to file tax returns.

Rental pressures are forcing people to switch from sharing apartments, a common practice among university students, to sharing rooms, just like in dormitories, with sometimes up to eight people struggling to accommodate in a single room.

In response to the soaring demand, in recent weeks, room-sharing listings have started to come to the fore on rental platforms online.

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.

Rent or buy? Both options have become almost too expensive to contemplate, especially for aspiring homeowners in Greece who must also arrange for a bank loan.