Real property law

Properties are being sold at just a fraction of their "objective value" (the property price used for tax purposes), according to sale contracts uploaded on the Finance Ministry's online platform gsis.gr.

The government has practically admitted its inability to calculate the taxable value of farmland by extending its exemption from the supplementary property tax for another two years, according to a new tax bill tabled in Parliament on Friday.

The divergence between so-called "objective values," or property rates used for tax purposes and actual market prices, is as high as 70 percent in some cases, according to recent transaction data. It is a difference that continues to burden owners, buyers and sellers alike, even though objective values were adjusted downward a year ago.

In 2010, Neena Nagpal and her husband spent their life savings on a flat outside Delhi that was never built. Now, a new law seeks to protect thousands of home buyers like her from unscrupulous property developers.

Apartment owners in central Athens and other parts of the Greek capital are ready to make the most of the increase in demand - mainly from foreign visitors - given that most people seeking a new home want to rent rather than buy.

Greece has been left without a national zoning plan for the tourism sector after the Council of State canceled the second such scheme in a new decision.

The Istanbul Metropolitan Municipality (İBB) has approved a change in its zoning plan for the city's historical peninsula, despite objection from its local urban planning office, which claimed the new regulation would lead to "irreversible" outcomes.  

Grivalia Properties' Luxembourg-based subsidiary Grivalia Hospitality SA on Tuesday announced its first investment, which concerns the acquisition of a 60 percent stake in the Pearl Island project in Panama from Dolphin Capital Investors.

The rector of the National Technical University of Athens (also known as the Polytechnio, or Polytechnic, in Greece), Ioannis Golias, must be overjoyed that the squatters/rioters who had occupied a wing of the historic building departed of their own accord early on Friday and thus saved him from an unpleasant task.

The Single Property Tax (ENFIA) is to undergo significant changes from 2017 after the Council of State ruled that the method used to calculate the tax for four areas in the country was illegal on the grounds that it did not take into account their special features in the assessment of their objective values (property rates used for tax purposes).