BUSINESS

Property taxation eats into Greeks’ disposable incomes

NIKOS ROUSSANOGLOU

TAGS: Taxation, Property

Eurostat data this week highlighted the destructive impact that overtaxation on property has had on the purchasing power and sustainability of Greek households this decade, showing that the number of Greek households paying over 40 percent of their disposable income on housing costs is four times the European Union average.

In 2016 the share of the country’s households who fit this profile amounted to 40.5 percent of the total, compared to an EU average of just 11.1 percent.

The rate has remained virtually unchanged over the last three years, as in 2015 it had stood at 40.9 percent.

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