FinMin committee to review upcoming real estate price proposals

A three-member committee will review new state-approved real estate prices, known as “objective values”, and provide adjustments where necessary, it was announced on Thursday.

The committee, set up by order of Finance Minister Euclid Tsakalotos, will review new starting prices for real estate to be provided by 250 property assessors for 10,000 zones in Greece. The assessors were given until March 15 to complete their work.

The property prices will be finalized by the leadership of the finance ministry, after a comparison with data provided by the Bank of Greece and the Registry for Property Transfers.

The state-approved pricing list is used for taxation purposes in transactions involving both private and commercial real estate.