Property

The state promises to subsidize the installments of financially challenged households for repaying their dues to their creditors by between 20 and 50 percent, whether they reach a settlement in court or via the out-of-court mechanisms to protect their main residence from repossession.

The Finance Ministry is expected within the month to invite chartered property surveyors to express their interest in the process of a new adjustment of property rates used for tax purposes, known as "objective values," which will go into force at the end of June.

A major event called "My Home Turkey Real Estate and Investment Fair" opened in the German city of Dusseldorf on Feb. 8 with the participation of more than 70 developers and real estate associations.

Greek property transactions took off in the second half of last year, due to the increase in the taxable rates - known as objective values - from January 1, 2019, and the the growth of investor interest due to the rise of the short-term rental sector.

Property surveyors will from now on undertake the adjustment of the taxable real estate rates known as objective values, according to a regulation submitted to Parliament on Thursday for ratification. This means that the extraordinary procedure employed in 2018 with the chartered surveyors will turn permanent as of 2019.

Innovative property startup Blueground aims to lease out some 50,000 furnished apartments in 50 cities around the world by 2023.

This is a particularly ambitious target given that the Greek company currently manages some 1,500 properties totaling 1.3 million square meters in nine cities: Athens, Dubai, Istanbul, New York, San Francisco, Boston, Los Angeles, Chicago and Washington.

Real estate investment companies (REICs) have been discussing plans for student accommodation, furnished apartments and even residential buildings for the elderly where their healthcare needs are also catered to in recent months.

Outstanding investment opportunity

The highly favourable location, great traffic connectivity, and the plot's existing utility connections make up for an exceptional investment value. The community infrastructure levy in the approximate amount of EUR 1.500,000.00 has already been paid for the property (the levy is included in the price).

Investment bank Rothschild is said to be seeking funding on international markets to finance troubled Greek-based jewelry company Folli Follie, either via refinancing existing bonds or through other means.

Nowadays real estate prices are increasing steadily ... Is the new home becoming a more distant dream? comments Bulgaria On Air TV show together with Nevena Stoyanova, a partner in a real estate agency, Snezhana Stoycheva, the manager of imoti.net and the singer Nora Karaivanova.

Buying or renting a new home is accompanied by a lot of stress and ... money.