ECONOMY

Property transaction frustration lightened a bit

property-transaction-frustration-lightened-a-bit

Property transfers are set to ease considerably thanks to the memorandum of cooperation signed on Friday between the City of Athens and the Notary Association of Athens, Piraeus, Aegean and the Dodecanese.

The agreement provides for the online issue of clearance certificates regarding the payment of the Property Tax (TAP) that is payable to local authorities through electricity bills.

The online application will start operating next month, and is seen substantially shortening the waiting time for buyers and sellers as the document ensuring the seller has no TAP arrears currently takes up to 20 days to be issued conventionally.