Initiatives to further accelerate the “multi-pathogenic” process real estate transfer he is expected to take AADE. talking to 40th Annual POMIDA Conferencelast Saturday in George Pitsiliscommander of AADE, said that it is planned to be further digitized in the next two years MyProperty Platformwhich allows you to automatically update its data Q9 in cases of changes in the property status of citizens. The goal is that they are not needed. change statements.

At the same time, it is planned to abolish certificates that do not give anything, but instead cause inconvenience to citizens and services, such as, for example. certificate of section 105 (concerns the certificate of payment of inheritance tax or parental benefit). Mr Pitzilis also acknowledged the need to create register of property and property managementwhere a citizen will be able to see all his property and declare all changes there, as well as all property that is rented out.

Of course, the above steps will not solve other serious problems that arise due to incomplete functioning. mortgage offices and from cadastral officesbut also from electronic building identifierleading to further delays, especially in cases where building permit plans have been destroyed or lost for decades.

land book

As industry professionals stated at the POMIDA conference, the most important problem today is considered to be the land registry and the long periods that are often required to transfer contracts to local land or mortgage offices. These delays “freeze” any transaction with a bank loan (the contract must be transferred, a preliminary note registered and the loan funds released).

Somehow, many deals are canceled because sellers don’t want to wait up to a year to get their money, and at the same time, many interested buyers can’t get into the domestic market precisely because they can’t finance the purchase. ownership with 100% shares.

G. Pitsilis: It is necessary to create a register of ownership and management.

As the president of the notary office, Mr. George Ruskas, “yes, there has been significant progress in the past 12 months, however areas such as central Athens, Zografou, Thessaloniki and Heraklion are experiencing major delay issues.” According to Mr. Ruskas, the biggest problem is the understaffing of the cadastral offices and the underfunding of the organization, as it depends on transaction revenues to cover its needs.

Chairman of the Land Registry G. Dimitris Statakis said that in the near future contracts will be signed with contractors on a project to digitize the register of mortgage loans, designed for three years. At the same time, he acknowledged that there are problems with the transfer of contracts and stated that the priority is to reduce service times and improve the quality of services. To date, 60% of the new structure of the land cadastre authorities has been opened, and by the end of 2023, 90% of property rights will be placed in the nationwide database of the Land cadastre.

Excellent mobility

However, mobility in the property market remains high as a result of the return of foreign investors after the pandemic and increased demand from Greek buyers. As Mr Pitsilis mentioned, “In 2022, 230,000 transfer, parental allowance, gift and inheritance tax returns were digitally filed, generating over €370 million in taxes. The entire process is digitally completed within one business day.”

The government estimates that in 2023 the transfer of property will continue to grow. The budget provides for a 40% increase in property transfer proceeds as revenues reach 489 million euros. Income from the sale of real estate (residential, commercial real estate, etc.) will amount to 369 million euros, and from the sale of land – 119 million euros.

Collections from inheritance tax as well as parental allowances and donations are particularly high. Inheritance fees are expected to reach 177 million euros in 2023, while parental allowances and donations – and despite the increase in the non-taxable minimum to 800,000 euros for first-degree relatives – are expected to reach 45 million euros. In total, the state will raise 222 million euros from both sources of income.