BUSINESS

Bureaucracy for home sale transactions increases

TAGS: Property

It can take as long as three months to complete a property transaction in Greece, particularly when it comes to countryside homes. The main reason is the huge bureaucracy the process entails, as a transaction requires from 10 to 23 certificates and documents, a figure that grows with each legislative intervention,instead of diminishing.

Furthermore, delays have recently lengthened even further for transactions concerning countryside homes due to the forest maps issued for a wide range of areas across the country – this has increased the volume of work for forestry authorities, at least until the objection process is over.

The problem with red tape is expected to expand to rentals, as they will soon require the same documents as sales. The necessary documents will incorporate a certificate by an engineer assuring there are no town-planning violations, thereby increasing delays and the costs for owners.

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