Real property law

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.

This year, landlords and tenants have filed tens of thousands of legal cases to resolve the disagreements and conflicts among them, overwhelming the country's courts.

Some 90,000 rent dispute related legal cases have been opened at courts since the start of the year, Justice Minister Yılmaz Tunç said, noting that this marked a 100 percent increase from a year ago.

The online property registry will become fully operational on November 1, allowing notaries public, buyers and sellers to complete transactions more quickly, without involving municipalities, tax offices or other state agencies in collecting the necessary paperwork.

Police in Cyprus were dispatched on Monday night to quell a brewing riot at a residential complex in Chloraka, a village some 3 kilometers from Paphos, on the island's southwestern coast, that has reportedly been taken over by migrant squatters.

As growing disputes between tenants and property owners show no sign of abating, landlords are increasingly preferring to lease out their homes on a short-term basis.

Their favorite potential occupants are now students who most landlords in the past simply avoided.

The rent crisis, which has been affecting millions of citizens for more than two years, has become one of the priorities of the public.

Last year, a 25 percent cap on rent increases was imposed by the government, and the deadline was extended this year.

EFKA, the country's main pension fund, is proceeding with the utilization of an important asset, the building at 16 Praxitelous Street, very close to Klafthmonos Square in central Athens.

Property owners will need to have insurance coverage for earthquake, fire or flood in order to enjoy the 10% discount on their Single Property Tax (ENFIA) bill next year based on the provision included in the bill of the National Economy and Finance Ministry.