A small decline has been recorded in new applications for residence permits through the Golden Visa program in the first quarter.
PROPERTY
The government and the realty market are pinning significant hopes on the success of the “Renovate-Rent” program.
According to the available data, residential rental rates have been rising much faster than salaries in recent years, making some neighborhoods, and especially in central Athens, too expensive for young house-hunters.
Real estate market professionals believe that a moderate reduction in house prices is possible in the coming months.
The energy upgrade of the existing building stock will be a particularly difficult challenge given the insulation specifications and heating systems.
More than 5,500 young individuals or young couples aged up to 39 years have already acquired their first home through the “My Home” program.
The Environment MInistry has opted for a compromise solution to deal with the opposition of municipal mayors to provisions in the new building regulation regarding the maximum heights of buildings.
Greek buyers are now making a dynamic return to the holiday home market, for the first time since the outbreak of the financial crisis.
Changes to Greece’s Golden Visa scheme are set to kick in at the end of the summer. This will see increases in the minimum amount needed to invest in order to secure a residence permit in an effort to tackle the country’s housing crisis.
The first of the two new Capital Taxation Centers (KEFOK) is to be activated on Monday.
The Cypriot Parliament has passed a law enabling beneficiaries to apply for a 5% reduced VAT rate within a year of acquiring a residence.
The tax authorities are increasing the burden on owners choosing to rent out their property short-term.
Changes in the tax framework for the short-term rental market have not deterred property owners.
There are significant disparities between the expectations of sellers and reality when it comes to property transactions in Attica, according to data regarding sales in 2023.
New applications for five-year residence permits through the Golden Visa program continue unabated.
One in five property owners will pay a reduced Single Property Tax (ENFIA) this year.
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