Lagging in the race, Greece looks into online property transfers
Greece is looking at ways to update the procedure involving the transfer of real estate and placing the process online, according to Digital Governance minister Kyriakos Pierrakakis.
The country has broadened the range of state services that can be done online amidst the pandemic, in some cases surprising many in Greece, who have become accustomed to lengthy and costly processes when it comes to issues, such as buying and selling a home.
The move to put the process online would help add shine to the country’s real estate market, making holiday homes more attractive to foreign buyers as authorities in competing markets, such as Portugal and Turkey, have made considerable progress in streamlining the process in recent years.
Based on the annual 2020 Doing Business report put together by the World Bank, all of the top 20 countries have installed procedures allowing of the electronic transfer of real estate, in a procedure requiring less than two weeks.
In Greece, which was ranked in position number 79 out of a total of 190 countries in the report, the transfer of real estate takes several months.