July 2022

Real estate professionals request government intervention for the restoration of overpricing phenomena, which in many cases create a distortion in property values ​​and hinder the attraction of foreign real capital in the Greek real estate market with regard to the Golden Visa program. The president of E-Real Estates, Themistoklis Bakas, describes the golden tricks, which have been devised in recent...

According to government information, checks on Golden Visa program investors have recently been carried out by relevant state agencies. Investigations are conducted both at central and regional level for cases of Golden Visas that were granted to foreign investors from third countries, focusing primarily on Athens and other areas. Golden tricks and the Golden Visas In his article, published on...

The dynamics of real estate prices and rentals have been examined by Alpha Bank in its Weekly Bulletin of Economic Developments (July 2022), highlighting, among other things, the effect that of increase in telecommuting on the property market. In particular, Alpha Bank's analysis team points out that the rise in residential property prices and rents over the last two years is a pan-European phenomenon....

Rents remain high, mainly in the country's urban centers, according to the latest data from the real estate market. According to the Greek Statistical Survey's (ELSTAT) latest data on inflation, housing costs for citizens has increased by 35% within a year, due to the increase in prices for house rents, electricity, gas, heating petrol and solid fuels. On the issue of high rents, Lefteris Potamianos,...

Red tape and the dozens of certificates required for transfers make it difficult to buy and sell real estate in Greece. The government is moving forward with decisions aimed at facilitating transfers, such as electronic inheritance tax returns, and digitising the issuance of tax information and debt certificates. Electronic submission of inheritance declarations and informal donations: No more visits...

Capital taxation has been constantly changing in recent years. This is a result of the high taxes that were instituted following the pressures of the 'troika' to increase revenues and meet fiscal targets. From 2019 onwards, the reverse process began, when the government suspended VAT on constructions, while it offered incentives for repairs, ensuring, as long as owners paid for the work electronically, a...

A construction blooming has been noted during the last 9 months in the country, despite the fact that the pandemic crisis and the war in Ukraine have created multiple problems. The cost of construction, for example, has increased by 50% within one year, as materials and services have risen steeply; however a strong interest of foreign investors in buying properties, mainly in the Southern Suburbs of...