Housing market vulnerable to latest property value rate hikes, say key SYRIZA officials

The new real estate price zones announced by the government on Monday will bring an average increase of 19.5 pct at 55 pct of the zones in the entire Greek territory, said SYRIZA-Progressive Alliance MP responsible for financial issues and economy Effie Achtsioglou on Monday.

The hike in so-called ‘objective’ property market values will have an impact on the annual property tax ENFIA across lower-to-middle value properties, while another 20 taxes total will be imposed, it was added in a party statement, co-signed by two of the party’s central committee members Katerina Papanatsiou and Trifonas Alexiadis.

“The timing of this increase, in the midst of a pandemic and an economic crisis, will lead to great burdens for hundreds of thousands of low-income households and the middle class,” they added.