Author: Nikos Roussanoglou
In Greece, over 900,000 properties are vacant, contributing to the country’s housing crisis. These properties are often tied up in legal disputes or owned by banks, hindering their availability in the market. At the 2024 Property Show, industry experts expressed concerns that current housing policies may not effectively lower prices. Kosmas Theodoridis highlighted that 500,000 properties are abandoned inheritances, while another 400,000 are held by banks due to debt issues. Additionally, a significant number of properties are becoming uninhabitable each year, especially in rural areas. The situation is dire in Athens, where legal disputes over properties are rampant and housing…
Despite the rise in property prices, property transfers increased by 20% in the first half of 2024 compared to the same period in 2023, totaling 302.49 million euros in state revenues. The Municipality of Athens saw the highest number of real estate sales, signaling a positive trend in the market. While there was a slight dip in state revenues in May and June, the government’s new measures, including freezing VAT on new buildings and suspending capital gains tax on real estate sales, aim to stimulate further activity in the sector. Additionally, plans for programs like My Home 2 and Renovate-Rent…
Are you a property owner in the Municipality of Athens? The government is cracking down on the housing crisis by setting a deadline of December 31, 2024, for the issuance of an AMA (Property Registration Number) for properties in the first three districts of Athens. After January 1, 2025, a ban on new AMAs will be in place for at least 12 months to prevent properties from being used for short-term rentals. This ban targets popular districts with high demand for short-term rentals, aiming to preserve the property market. However, there may be a different approach in regions with lower…
The Greek government is taking steps to address the issue of vacant rental properties by setting up a register of tenants who don’t pay their rent. This registry will help landlords avoid bad debtors by providing information on tenant profiles, including any history of unpaid rent or bills. With an estimated 700,000 closed/vacant homes and only 100,000 active short-term rental properties, there is a clear need to encourage more property owners to enter the rental market. By creating a private debt registry, the government aims to collect data on debts owed by individuals, such as rent arrears, unpaid bills, and…