Real property law

In a bid to curb the sharp increase in sales prices and rents in recent years, the government is seeking to return a large number of closed properties across Greece to the market.

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.

The year-on-year decline in home sales deepened in November, with sales falling 20.6 percent from the same month of last year to around 93,500, the numbers from the Turkish Statistics Institute (TÜİK) showed on Dec. 15.

In October, nearly 94,000 residential properties changed hands, pointing to 8.7 percent annual decline.

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.