PROPERTY

funds-are-now-the-main-sellers-in-property-auctions
BANKING

Funds that have acquired Greek bond portfolios are the main drivers of property auctions, taking over from banks, with over 70% of assets scheduled to go under the hammer within 2022 via the e-auction platform having various funds as their sellers.


tap-certificate-weighing-down-property-transactions
ECONOMY

Frustration continues to grow among thousands of property owners over the requirement that they must be issued a so-called TAP certificate, which proves they do not owe property tax to the local municipality before they can complete a real estate transaction. 

property-all-set-for-rebound
REAL ESTATE

This year the property market is set to recover all the ground lost in the last couple of years and return to the levels recorded in 2019, according to George Mountis, managing partner at Delfi Partners and Co.

cyprus-house-prices-keep-increasing
PROPERTY

Residential property prices in Cyprus continued to rise in the third quarter of 2021, primarily driven by apartment purchases, according to the Residential Property Price Index released on Friday by the Central Bank of Cyprus (CBC).


which-areas-face-property-taxation-hikes
OBJECTIVE VALUES

Over 7,000 property zone rates have gone up as of January 1 with the application of the new taxable value of properties, known as “objective values.” That pushes up dozens of taxes and charges related to real estate, as well as raising the cost of property transactions.


moderate-rise-in-golden-visas
PROPERTY INVESTMENT

The number of residence permits issued to non-European Union citizens, known as Golden Visas, in Greece in 2021 posted a moderate increase of 10.3% from 2020, with the issue of 1,035 new five-year permits, up from 938 the previous year.

house-rates-up-21-since-2018
PROPERTY

Unlike the rest of the economy, the effect of the pandemic on the property market appears to have been negligible, lasting for just a few months.

facing-the-enfia-conundrum
PROPERTY TAXATION

The overhaul of the Single Property Tax (ENFIA) is causing major headaches at the Finance Ministry, as the transformation of the supplementary property tax into a levy on the sum of one property has created problems for the competent committee that has to find a solution without adding to the burden of most property owners.



short-term-rentals-stage-full-recovery-in-november
TOURISM

Greece’s short-term property rental market moved into positive territory last month, as the monthly analysis by AirDNA showed demand for Airbnb-type assets posted a 7.6% increased compared to November 2019, in a first for comparisons with the pre-pandemic period.

[Intime News]
SOCIETY

The “unification” of Attica’s southern coast from Piraeus to Sounio, with the construction of an uninterrupted pedestrian pathway and, for a large part of the route, a cycling lane; the renovation of the Olympic Athletic Center (OAKA), with the revamping of its buildings and redevelopment of its outdoor areas; sprucing up the grounds and buildings of the former royal estate at Tatoi, while dusting off the heirlooms and creating museums: These are three defining redevelopment projects that are being brought forward by the Hellenic Republic Asset Development Fund (TAIPED).

reics-logistical-dream-at-aspropyrgos
PROPERTY

Real estate investment companies (REICs) are currently developing over 90,000 square meters of logistics facilities at Aspropyrgos, west of Athens, investing funds totaling 40-50 million euros.


strong-increase-in-house-prices
PROPERTY

Residential property prices have risen considerably over the last three years in Greece despite the onset of the pandemic, as the average rates in Athens are now 30-32% higher than in 2018, while in Thessaloniki they have climbed 21-25%, in the other major cities they have grown 9-14% and in the rest of the country by 10-16%.

luxury-residences-in-the-works-at-hilton-athens
PROPERTY

Part of the agreement on the Hilton Athens hotel between Ionian Hotels and Hilton is for the landmark unit in the center of Athens to have about 50 luxurious private residences under the brands Conrad Residences and Waldorf Astoria Residences.