Exciting news for the property market in Greece! The government have taken action to boost sales in the housing market by freezing the property tax in Greece, which is imposed on sellers known as ‘Yperaxia’ for 2 years starting 1st January 2015 until 31st December 2016.
The ‘Yperaxia’ property tax came into force in 1st January 2014 but it has not yielded the expected results and brought money into the economy so in a turnaround decision, it has been temporarily suspended. This will hopefully encourage owners to reconsider selling their properties and get the market moving better.
This is excellent news especially for owners of properties in Greece who bought at a time when the property prices were relatively low and would have been facing a hefty bill in order to sell. So now is the time to sell for owners to avoid the extra expense of paying property tax in Greece!!
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