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Athens
Tuesday, August 3, 2021

Road race for real estate transfers, after the new objective ones  

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An increase in real estate transfers, sales, parental benefits and donations is observed in the areas where the new objective values ​​are making a leap. Citizens are in a hurry to avoid tax increases that are accompanied by an increase in new fair values ​​at the beginning of 2022, when they will take effect. In areas where the zone price is falling, however, citizens should not rush, notaries advise.

"There is an increase in the interest of the citizens for the agreed purchases and sales, for parental benefits and donations and it is now tangible, especially in the areas of Attica where we have large increases in the objective ones", he says in Athens 9.84, the president of the Notarial Association of Athens - Piraeus - Aegean & Dodecanese Courts of Appeal George Rouskas. "Of course, traditionally, during the months of June and July there is interest from the citizens, but now it has become bigger. The increased interest of the citizens in order to avoid taxes had started to appear in May, and they are doing well. "Citizens who are interested in real estate in areas where the price of the zone is decreasing, such as in Patissia, in Platia America, or in Acharnon, do not need to hurry."

Problems in processing

"We will have a problem in handling cases mainly due to issues arising from the measure of the electronic identity of the buildings", points out Mr. Rouskas.  "If no extension is given, the transfers of real estate will be blocked as the Electronic Identity of Buildings is a condition, after 01-07-2021. This is a demanding and time consuming process, which will make it difficult for engineers.

"There is already a 'blockage' in the system, in terms of the areas that are out of the plan and forest maps have been developed, there, I tell you indulgently, is chaos.  Mortgagees do not transcribe, they do what they want, conflicting documents are sent by the Greek State, some to the Ministry of Justice and others to the Ministry of Environment. If the application of the electronic real estate ID is not extended in order for the technical chambers to be prepared, I predict that in the middle of July we will have "blocked", emphasizes o Mr. Rouskas. 

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