Greece’s Enfia real estate tax for 2021 looks to remain unchanged from last year’s levels, as the pandemic halts planned changes to property tax values, according to Finance Ministry sources.
The Finance Ministry is currently in the process of finalizing the details on the Enfia property levy with representatives from Greece’s official sector creditors. Talks are expected to wind up this week.
The ministry has been working with independent valuers in recent months in a bid to update property tax values and bring them closer to market prices. Increases in tax values are seen reaching as high as 100 percent in some parts of Athens, Thessaloniki and on some islands.
Other sources indicate, however, that the new higher tax rates may take effect as of 2021 for those who acquired real estate in the last year. Final decisions have yet to be made.
Enfia is normally due for payment as of September.
Greece's conservative government has been looking at ways of helping stimulate the real estate sector which had been rapidly growing prior to the pandemic. Strong buying interest from foreign home buyers looking to take advantage of the country's Golden Visa program boosted demand for homes, mostly apartments.
However, the market has largely frozen as the Greek economy plummeted into steep recession last year and travel restrictions remain largely in place.
Last week, Greece announced that it was putting the land registry office, known as the 'ktimatologio, online in an attempt to cut back on red tape and make the sector more competetive.