Greek authorities are considering to extend the old objective values regime
The extension for at least one month in the transfers of real estate with the old objective values is being examined by the Ministry of Finance, giving a little "breath" to the involved parties (lawyers, notaries, engineers, etc.) that have undertaken the process.
According to information, the Ministry listened to the "SOS" broadcast by the property owners who found themselves in a torturous situation due to the large bureaucracy needed for the transfer of real estate.
Finance Minister, Christos Staikouras is considering to extend the deadline for those who had comprised until December 31, 2021 with the old objective values that changed from the new year.
The prospect of new objective values effective as of January 1, combined with the vertical increase of the tax-free allowance for donations and parental benefits to 800,000 euros pushed many homeowners to proceed with the relevant process for transfers and parental benefits.
Property owners through the Panhellenic Federation (POMIDA) with a joint request of the Plenary Session of Greek Bar Associations, the Coordinating Committee of Notarial Associations of Greece, GSEVEE, OMKOE and OMASE have long submitted a request for the transfer of the system.
According to POMIDA "in order to meet the increased demand for real estate transfers transactions within a reasonable time frame, we proposed the six-month extension of the real estate transfer framework valid until 31.12.2021, pointing out that the Greek State has much more than this, as it will receive income from the transactions that will be completed, while on the contrary, many incomplete notarial deeds will be referred to the "Greek Calendars" as they will be deemed unprofitable for the traders".