Real property law

State to give support to landlords as well as tenants

Next week the Finance Ministry will announce the measures to support the landlords who have lost 40 percent of their rental revenues in March, April and May. Sources say the government is considering covering part of the losses through this year's tax declarations, while in 2021 they will only pay tax for the actual rent collected.

As of May 15, it is possible to leave locality with good reasons, verbal statement and supporting documents

The Minister of Health, Nelu Tataru, declared on Monday that after May 15 it will be possible to leave the locality for well-founded reasons, mentioning that it will be a verbal statement accompanied by documents, for example a property deed.

Staikoura touts benefits of up to eight billion euros in liquidity from EU pandemic package for Greece  

Finance minister Christos Staikouras welcomed the results of the historic Eurogroup pandemic rescue package which he depicted as a satisfactory but hardly optimal compromise.

Staikouras said that Greece's three main demands were met.

The first is direct liquidity for businesses which will not be laid out through banks.

Landlords set to get ENFIA cut

The government is considering a 25 percent discount on this year's Single Property Tax (ENFIA) dues for owners who will suffer a loss in income following the state's decision to reduce the rents paid by corporations and households suffering directly as a result of the coronavirus restrictions by 40 percent.

Fair solution

Expanding a measure to reduce the rent that all businesses affected by the new coronavirus and their employees have to pay is a necessary instrument that will provide relief during this period of intense pressure.

Short-term property rental market saturated

The number of properties up for short-term lease in Greece has soared from just 130 in 2010 to over 200,000 by the end of 2019, according to a survey by the Center of Planning and Economic Research. Despite the huge changes this surge has brought to the property market, however, the regulatory framework has resisted change and adjustment to reality.

Pages