Real Estate

The current economic situation, but sometimes an entire period of history, can be captured by the price fluctuations of a small apartment. A friend of mine was described me a few days ago the adventures and destiny of a small apartment she owns in Ampelokipoi over the last 20 years. The ground-floor apartment, which her family bought her during her student years up until the day she got marriage, became...

The story A foreign tax resident from Israel, with a tax representative in Greece, was charged income tax and a fine, after the tax audit authorities found out that the foreign taxpayer had profits from business activity, which relate to the sale of real estate, but without declaring his commencing of business activity. The taxpayer filed an appeal, requesting the annulment of the act of determining...

Five hundred thousand euros ($530,000) for a residence permit in a Schengen zone EU country: That's the deal the Portuguese government has been offering rich foreigners since 2012. About 12,000 investors have taken advantage of it to date, effectively purchasing an entry ticket to the European Union for themselves and their families. Now Portugal is calling time on its golden visa program, partly in...

Zone rates are implemented in 2,167 areas by the government's economic staff, effectively completing the first major part of the new property tax reforms. After the inclusion of the above areas in the system of objective value determination of of real estate, almost 100% of the Greek territory will have zone prices which will even match the commercial value prices. The second part of the reform concerns...

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....

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...

According to data from the Bank of Greece, apartment prices in the country have increased by 8.6% in the first quarter of 2022. Based on the age of the property, the prices of the newly-built apartments increased by 10.3% and the older ones by 7.4%, while based on their geographical location, the largest increase is located in Athens by 9.7%. Thessaloniki shows increase by 8, 3% and the other big cities...