Realtors want more zones inducted into town plans

Realtors want more zones inducted into town plans

The huge discrepancies between market prices and zone rates (known as “objective values”) have led to considerable distortions in the calculation of the Single Property Tax (ENFIA), especially in areas that are not located inside a town plan.

In view of examples such as an 11-million-euro villa on Mykonos that pays only €1,000 in ENFIA, realty professionals are calling for as more zones to be admitted in their respective town plans.

On Aegina (pictured), for example, a 400-square meter villa on a 6,000 sq.m. plot with an asking price of €975,000 and an objective value of €174,054 has to pay ENFIA of just €875 this year, given that the asset is outside the town plan.

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