Debt crisis drags Greek real estate market into the abyss The financial crisis and Greece's high level of over-indebtedness have significant consequences, not only on economic development and on the labour market. After all, the domestic real estate market in particular has come under severe pressure in recent years. Many households lack the financial means to purchase residential property, while others...
Real estate ownership tax ENFIA Property owners in Greece can now access their new assessments for the Uniform Real Estate Ownership Tax (ENFIA) via the electronic system "TAXISnet". The corrected tax assessments concern about 1.2 million owners of land that are outside the system of property-related unit value determination. The deadline for payment of the first instalment expires on 30 September and...
Greek Holiday Properties Greek holiday properties are part of the industry that seems to be helping Greece out of recession in the coming months. Experts are optimistic about the demand for holiday properties for sale, the number of which currently amounts to 30,000 – 40,000. According to the information provided so far, as well as reports from various real estate agencies, the first signs of...
By the end of the year, the revised legal framework is expected to be finalised, according to which the issuance of a residence permit is to be issued to citizens of third countries who wish to purchase real estate in Greece with a purchase value of more than EUR 250,000. All the new changes aimed at boosting investment in the Greek real estate sector include, among others: The possibility of...
The Greek government's economic staff will give a major boost to the real estate market by reducing the taxation of real estate transfers in the new year. The aim is to encourage foreign investment by reducing the real estate tax during the signing of the contracts. According to the government plan, the standard value is no longer to be used as a basis for determining real estate transfer tax. From 2015...
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