Greece still unattractive for property sector investors

Greece remains among the least attractive destinations for foreign property buyers looking to make an investment. A list drafted by the Global Property Guide - an international provider of information for property investors - has placed this country 32nd among 36 states, as its prospects for an investor are seen as quite unattractive.

The Global Property Guide report stresses that the high taxation of rental incomes and the high cost of transactions (transfer tax, various stamps etc) are strong counterincentives for investors.

Greece has one of the highest rental taxes, coming eighth among 42 countries. For the first 12,000 euros of annual revenues from rent the tax comes to 15 percent, up from 11 percent until 2015. For revenues between 12,000 and 35,000 euros per year the rate soars to 35 percent.

The high income tax combined with the huge ownership tax (ENFIA)...