Investing in Greek Real Estate: Benefits are Growing!
The gap between cadastral and market value is widening.
In the last 3 years, the price difference has doubled!
What this means:
· Profitable investments: Real estate in Greece is becoming increasingly attractive for investors.
· Low taxes: The cadastral value lags behind market growth, potentially resulting in lower property taxes.
· Valuation challenges: It's essential to consider more than just the cadastral value when buying or selling.
Examples:
· Apartment in Kifissia: market price €672,301, cadastral value €315,450 (+119%).
· Apartment in Kolonaki: market price €330,000, cadastral value €242,250 (+36%).
Context:
· The cadastral value, used to calculate property tax (ENFIA), hasn't been updated since 2021.
· During this time, market prices have risen significantly: +12% over 2022-2023 and +8% in the first 5 months of 2024.
