by admin The pilot operation of the system of bulk real estate valuations (CAMA) has started. The electronic system is currently being tested by the services of the Ministry of Finance, a process which, as everything shows, will last several months, until at least the country’s political leadership is convinced that the new system’s results are correct and unquestionable. In the first phase, the system collects data from various databases, which it evaluates in order to reach the desired result, i.e. the estimation of the price-zone in a certain area. New data is gradually being added to the new system of bulk value estimations in order to have all the necessary data for the configuration of the price zones.
The Information System of Bulk Real Estate Valuations has been launched and is currently being tested. It takes into account and simulates the prevailing real estate market conditions and market trends based on statistical methods of data management and analysis, in accordance with European and international practices. Once the application is fully activated, the government’s finance office staff will be called upon to decide how to use the new system. That is, if it will be advisory and helpful in the process of adjusting the real market values in the property market or if the market prices of a specific period will be used for the adjusting contracts and calculating the new ownership tax (ENFIA).
In addition to the usefulness of the application for calculating taxes, the electronic system will be especially important for those who are interested in investing in real estate. They will be able to see the trends that are formed throughout the territory they are interested to invest in and make their own decisions accordingly. It is noted that the project collects data that affect the value of properties from all available sources, such as services and bodies of the wider public sector, with emphasis on the relevant data of the Land Registry and Tax Office (AADE), as well as open access data. The latter includes: (a) data on real estate prices (e.g. contract values, lease values, appraised values, expropriation values); (b) qualitative data of characteristic property types (e.g. land use, property areas, floor, proximity to metro stations, schools, electricity pylons, etc.).
As reported by the Ministry of Finance, the project introduces a versatile, integrated information system, which will help in determining the objective values of real estate, as it will provide real estate data and inventory data based on Geo-spatial technology. Users will have the ability to: (a) check entire urban blocks, road networks, administrative divisions and points of interest on a Geo-referenced photo-map of the National Land Registry; (b) navigate between interactive maps; (c) enter their own property data; and (d) receive information on the estimated value of the property they are interested in.
Source: Prokopis Chatzinikolaou
https://www.capital.gr/oikonomia/3640344/xekinise-i-automati-anaprosarmogi-ton-antikeimenikon-axion