Starting from November 1st, an acceleration of the real estate purchasing process in Greece is anticipated due to the launch of a comprehensive online real estate registry.

The emergence of this news is tied to the activation of Greece's full-fledged online real estate registry, which will come into operation on November 1st, 2023. This significant development will expedite the transaction process between sellers and buyers by eliminating the need to involve municipalities, tax authorities, and other governmental entities in collecting necessary documents.

The essence of this innovation lies in the fact that electronic property transfers will encompass only regions where a complete registry of real estate properties has been implemented.

The procedure will commence with notaries entering the system, where they will provide their special tax identification numbers as well as the special tax identification numbers of the transaction parties (AFM). Subsequently, they will propose to accept property transfer requests and receive authorization to gather the required documents.

Following this, sellers will be able to join the platform, and buyers will be able to authorize transactions, granting notaries the capability to assemble documents on their behalf. This streamlining will simplify the transaction process and reduce the time spent on obtaining various documents and permits.

In essence, the introduction of a comprehensive online real estate registry on November 1st in Greece promises to significantly expedite and simplify the real estate purchasing process through efficient electronic processing of necessary documents and the reduction of bureaucratic intervention by various governmental entities.