June 25, 2024

Athens News

News in English from Greece

Objective real estate prices: changes will affect 12 municipalities

12 municipalities are seeking a reduction in property values ​​and have moved to the next stage of verification by private appraisers at the Ministry of Finance.

These are municipalities from all over the country that have submitted objections to the relevant committee of the Ministry of Finance on the basis that objective real estate prices in their areas are higher than commercial prices, asking for their reduction.

These municipalities include Ag. Anargyron – Kamatera, Vrilissia, Chalandriou, Glyfada, Piraeus, Ithaca, Karpathos, Loutraki, Symi, Pyrgos, Rhodes and Astypalaia. A total of 169 municipalities in the country, including the municipality of Athens, lodged objections to the reduction in objective prices, but only 12 of them were approved.

The next stage of the review is expected to be completed by the end of June, when ministry experts will present their final proposals to Finance Minister Kostis Hatzidakis, who will make a decision.

Regardless of these decisions, the Ministry of Finance clarifies that they will not have retroactive effect. That is, in municipalities in which a decision will be made to “cut” objective prices, the bill ENFIA will not be affected this year.

The reason why the competent committee of appraisers of the Ministry of Finance rejected most of the municipalities' objections is the significant increase in commercial prices in the real estate market in recent months. The rise in prices eliminated the difference between objective and commercial prices, which led to the rejection of objections from municipalities that demanded a revaluation and reduction of the former.

In the meantime, the relevant departments of the Ministry of Finance are working to gradually expand the objective system for determining the value of real estate throughout the country. This concerns 2,167 districts, 1.5% of the territory, which still remain outside the objective determination system. At the first stage, 500 districts will be included in the system, and then the rest. As for Attica, the areas to be included are: Varkiza, Agia Marina, Charakas, Daskalio, areas from Porto Rafti, areas in Salamis, Kythira, Aegina.

In the rest of Greece, the inclusion concerns areas in Achaia (Diakopto, Aegeira, Platanos, Selianitika, Psatopyrgos), Ilia (Kyllini, Ancient Olympia), Trikala (Pertouli, Elati, Pyli, Kastraki), Florina (Amindeo, Agios Panteleimon, Prespes, Filotas , Drosopigi, Pissoderi, Kristallopigi, Meliti) etc.

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