An end-of-the-year rush to complete real estate sales as well as parental grants and “living inheritances” is attributed to a decision last autumn by the current center-right government to allow a tax-free ceiling for such transactions of up to an objective tax value of 800,000 euros.
According to figures based on the tax bureau’s myProperty online platform, since the beginning of the year more than 212,000 electronic real estate transactions, parental grants and transfers have been submitted. Real estate transfers alone exceed 136,000.
By Greek standards, the 800,000-euro tax-free ceiling is judged as very generous, although a portion of the left-of-center political opposition criticized the measure as favoring more affluent taxpayers.
According to the Greek statistics authority (EL.STAT), parental grants and transfers in 2021 exceeded the previous year’s figure by a whopping 90.6 percent – 49,452 to 25,944 in 2020.
Other reasons given for the “boon” is that older taxpayers want to avoid paying property taxes (ENFIA) on real estate essentially designated as inheritance; to help children or other family members acquire housing and to even reduce their “taxable footprint”.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Economic Sentiment Indicator in Greece Drops Slightly in Dec.
The data revealed that the primary drivers of the slight drop were the industrial and retail trade sectors. Conversely, construction and consumer confidence improved.
Greece’s Trade Deficit Surges by 18.7% in Nov. 2024
For the first 11 months of 2024, the total value of imports reached 77.3793 billion euros, a 1.9% rise compared to 75.9482 billion euros in the same period of 2023.
Installing EV Chargers in Your Building is Harder than You Think
So, you just bought an EV in Greece and can’t wait to set up a charger in your apartment building’s parking space? Not so fast—there are a few hurdles you’ll need to clear first.
Greece Announces Grants to Unemployed for New SMEs
Unemployed individuals seeking 12-month grants to fund the creation of new SMEs can apply online until January 21.
Port of Piraeus Reports Record-breaking Year for Cruise Sector
First cruise ship of the season, Viking Saturn, greeted at Greece's largest, busiest port
Greek Energy Minister Skylakakis Announces Subsidies to Mitigate Electricity Prices
“When prices exceed a certain threshold, we intervene,” said Skylakakis
Mitsotakis: Greece is a Beacon of Stability in an Unstable World
Greek Prime Minister Kyriakos Mitsotakis described Greece as a "beacon of stability in an unstable world" following the Epiphany water blessing ceremony at Dexameni Square in Athens.
The Life of Former Prime Minister Kostas Simitis
Former Minister Kostas Simitis played a defining role in shaping Greece’s economic and political landscape at the turn of the millennium
Four Days of National Mourning for Passing of Kostas Simitis
Four days of national mourning have been declared for the death of former Prime Minister Kostas Simitis
Former Greek Prime Minister Kostas Simitis Dies at 88
Kostas Simitis, Greece’s former Prime Minister, died this morning, January 5, at the age of 88.
