Greek Property Market at a Complete Halt



Greek urban propertiesThe Greek real estate market has come to a complete stand still over the past two months, as the new law on the surplus value tax, which was introduced by the government and passed by parliament last December, has not been implemented yet on properties in Greece, leaving everyone wondering about the amount they will pay if they decide to buy or sell a property.

Now, the Greek Finance Ministry has decided to introduce a new bill to parliament, which will try to give a solution to the chaos, by revoking the already voted on property tax of December, thus complicating the application of the existing –though non-applicable– tax even more. It is noted that the Ministry has not published any kind of explanatory circulars, which would help notaries, bookkeepers or even Greek Tax Authorities to calculate the amount paid by property holders, wishing to proceed with a real estate transaction.

The only property transactions which can still be carried out are the ones that commenced within 2013, as they are still conducted under the old tax regulations, which have been replaced since January 2014 by the new chaotic surplus value tax.

This delinquency shown by the Greek Finance Ministry, which seems to become another Greek “success story,” has caused a collapse of Greece’s real estate market and has reduced the state incomes from properties to zero. Meanwhile, property holders, who wish by any means possible to get rid of their properties and of the connected financial obligations, can’t go through with the selling, as they don’t know how much they will pay in taxes.

From their side, the officials of the Ministry, who also introduced the tax last year, are now trying to resolve the mistakes embedded in the provisions of their law, while turning down all proposals by other parties, as well as by the Hellenic Property Federation (POMIDA).

In either case, even if a solution is found, the application will take a while, thus forcing everyone involved in real estate in Greece to be patient and just wait.


37 COMMENTS

  1. Who would of thought it after such good news and predictions for more from Stournaras and Samaras (sarc).

  2. It current situation sucks but it could be far worse. If communists has won the civil war, no one would have their own property. All property would all belong to the state (i.e. the great communist leader). Its what communists in north korea call “democracy”.

  3. Which communism China, Russia, Vietnam, Cuba or Nicaragua? All have evolved out of necessity. China’s Greta Leap Forward and Iron Rice Bowl were dismal failures that laid the ground work for badly needed reforms to survive. The others have followed to varying degree. Even North Korea is indicating a hesitant shift. Reform is a never ending process of economic evolution that somehow has bypassed Greece the past decades. What drives the process is vision, commitment and liberalization of the marketplace from the nation’s leadership. Haven’t see much of it from the coalition partners that held control for the past 40 years. I doubt we will be as patient as Russia’s 80 years before it happens. The farmers and others demonstrations recently clearly indicate they are growing increasingly impatient.

  4. Still Greece behaves like the last communist country of Europe–just try to find a pharmacy open on the weekend when your kid is sick. You will pass eight shops–all closed by governmental mandate. Is that a free-market atmosphere? Why did the developers (Greeks) of Blackberry have to move to Canada to initiate and expand their multi-billion dollar enterprise?

    Any entrepreneur trying to get a foothold here will give you the answer.

  5. There is No Greek “Success Story”…There are Very “Sad Stories” all over Greece…

  6. Leftist thugs deleting posts again. See what I mean about the far left in Greece.

    Thugs that claim to stand for free speech but when criticized turn into the gestapo.

  7. You are right. Some Greeks do behave like communists. ase in point…

    Some leftist censoring thug on Greek Reporter’s staff is busy deleting posts again. Apparently “Free speech” to them is only allowed if you aren’t critical of Greek Reporter.

    We don’t see to eye on some issues, but if you claim you are for free speech, I ask you to condemn their behavior.

  8. Hey Polycrates, the left wingnuts of Greek Reporter are removing posts again. Can you do me a favor and condemn their censorship in your posts

    (e.g. end posts with something along the lines of “STOP GREEK REPORTER CENSORSHIP”)

  9. Were either China, Russia, Vietnam, Cuba or Nicaragua a success? Was any communist country a success? We have 70 years of empirical data from communist countries around the world that communism was a dismal failure.

    As for Greece, we shouldn’t resort to exaggeration. Our economy wasn’t that bad until the last few years. We were in the top 25 countries in the world. When things really starting going downhill is when we let the unions get out of control with demands (e.g. 50 year old retirement age).Letting in all those illegals also fostered an underground economy (since illegals are typically hired dirt cheap for cash) We also became dependent on cheap credit and EU subsides. Rather than focus on industry and productivity we focused on leasure.

    However, even considering the current mess, we are STILL better off than any communist country on earth. Tsipiras should go to his communist utopia of China to see the quality of life of an average Chinese workers. Its crap. They make next to nothing and work insane hours. And thats with China moving towards a free market oriented economy. Under Mao, millions starved to death.

  10. the great thing about a free country is that people can delete things of their own websites.

  11. The Greek government has no credibility. Greeks deserve everything they get if they continue to pay it money.

  12. There is No Greek “Success Story”…There are Very “Sad Stories” all over Greece…

  13. It is a matter entirely out of my control. Generally there is an underlying reason to delete a commentary. Suggest a cooling off period.

  14. Greek Reporters staff destroy their own credibility by resorting to censorship. What happened to the free speech they claim to support? It only applies when you say words that doesn’t offend them?

  15. Yes. There is underlying reason to delete posts Its called censorship and oppression of free speech.

    There is absolutely nothing anyone said that should have been deleted. Had someone made a death threat or spammed oft topic advertising would be one thing. Deleting posts dealing with criticism of Greek Reporter (or even another poster) is by definition censorship.

    The can certainly get away with it but its just another example that what I say about leftwing extremism is true. They can’t even support free speech on their own website.

  16. See how leftists work. Talk and talk about “democracy” and “human rights”…but when you say something that offends them too much… bam…free speech goes out the window. Chilling to see real world oppression.

  17. Participation in any blog is like entering a casino. They own the building. chips, playing cards, tables, etc.. You must agree to their rules if you wish play. Other blogs delete entire threads of 40, 50, 60 comments gone wiped out in entirety for inexplicable reason and in the process losing some really great thought provoking discussion. It comes down to their blog, their rules.

  18. They may have a legal right to do as they please but on a moral level they are in the wrong.

    As alleged journalists and free speech advocates they should be the last to censor. By deleting posts, the leftists that run this website show they don’t practice what the preach even on their own turf. Imagine what oppressive clowns like this do with actual political power. Scary.

  19. According to that logic then soviet union was a free country. Stalin could delete his things too.

    Free speech is free speech. Someone can indeed delete posts in their little fiefdom on the web, but the moment they do, they start to abdicate their claim to be defenders of free speech. Basic logic.

  20. Agreed–there is some heavy-handed censorship being employed on this forum recently which flies in the face of its purpose. I agree commentors should be monitored when they use offensive language or bring insults or threats to the individual they are commenting upon. But ideologically this forum should be free of biases–leave those perceptions to the people commenting!

    I tried to bring back a “This comment was deleted” by copy-pasting it from my email back onto the forum, as I felt the gentleman made a good analysis of my original comment–though he disagreed with it. But nope. They took it off again! It was in reference to my contention that the Greek govenment should adopt an impeachment clause in its constitution. His rebuttal was in agreement but simply ffelt the present government has not done anything to warrant impeachment. OK–his opinion. But was that offensive, threatening, or inappropriate? One would hope its just not politically correct enough for the present czar of comment control on this forum.

    Let’s see how long this rant stays up. . .

  21. It’s not only Leftists that delete posts the Center-Right have done the same. Censorship-editing when host Reporter or New Agency is the target of attacks on their blog?

  22. I suggest that instead on posting your comment with unregistered names; “Guest”, “guest”, “Leftist censorship” and countless others you subscribe under a name which then allows the rest of us to know who you are. Sometimes there are two or three different “guests” commenting is very confusing and impedes the quality of the discussion.

  23. What happened to all your posts that you and I have been debating-arguing? It appears your comments have been deleted all of them. Why?

  24. One way to look at it Truth is there are many Greek “Success Stories” however, they all entail massive stealing and corruption and with that money either send to Swiss accounts or look at all those properties by Liapis, Tsohaztopoulos, and so forth. Let’s go to Arachova- the Winter retreat for the rich and famous and I’ll show you villas all built with dirty $$$$$. From the LAMOGIA point of view, there are many successful stories BUT BUT accomplished without meritocracy.

  25. This may be an attempt to limit participation to those that have registered with Disqus. Do you know of any registered contributor that has been deleted on his site?

  26. Not nearly as much as the leftists. Go on the Guardian and try to criticize its editorial board and slam communism in post after post. Go the NY Times website. Go to any website run by leftist and do that. They virtually all do the same thing. Even the alleged “moderate” leftists will eventually make an excuse to either ban you or delete your posts.

    It took me a long time to realize this is a pattern among leftwing websites. What leftists really mean by “free speech” is its only free for as long as you don’t criticize them directly too much. This is why they usually support “bullying”, “hate speech” and “anti-racism” laws. Its their way of stifling free speech using government force (why I generally oppose such laws)

    You will learn first hand once they do it to you.

  27. Other than buying a newspaper, it sounds like you need to start your own blog, publish the rules and moderate the dialogue. That is the only way you can be treated fairly.

  28. Your argument simply doesn’t hold sway. Putting aside I used to post with a single id (until the leftist censors removed it) Skopians come here constantly changing handles. The leftist imbeciles that run this website don’t mind that.

    As for quality of discussion, the endless anti-government rants of some of the posters here aren’t exactly intelligent.

  29. You’ve muddled their legal ability to silence posters with both the ethics and logic of the situation.

    A self-proclaimed journalist (anyone can call themselves that) that claims to support free speech… logically should support it where they have the authority to do so. When they do not, they are in contradiction of their own stated beliefs. Free speech is free speech. It is no speech that I approve of. It is speech I disapprove of too.

    Weren’t you the one that previously told me about how people should be able to say what they want? Now you are arguing the exact opposite in favour of censorship? Ethics requires consistently applied principles not waffling back and forth when it suits someone. That’s not ethics. Thats sophistry.

  30. Nothing stops you from registering a handle and so as not worry about Skopians/Commies/Albanians /etc.,stealing your identity “guest”. As for the content of your comment it is the duty of the moderator whether it is admissible or not sometimes arbitrary and…….subjective.

  31. Please do not put words into my mouth. I have explained how I view this matter and even given you suggestions. If you have yet to register a handle that suggests you are fearful preferring to dialogue as an anonymous entity from the shadows.. If you choose to ignore me that’s your prerogative but stop complaining and do something about it.

  32. You are mistaken. Something does stop me from using a single handle Greek Reporter staff deletes handles if they become too critical of Greek Reporter.

    I’d appeciate it if you didn’t put words in my mouth. I said nothing about “Skopians/Commies/Albanians” stealing my handle. I said that Skopians come here constantly changing ids. This doesn’t seem to bother the leftist staff so the only factor left for deleting my posts is my constantly criticisms of both leftists — including the leftists of Greek Reporter.

    I find it fascinating how only a couple of days ago you were arguing in defense of free speech of stongmenabc (whom engages in extreme anti0government rhetoric like a few other posters here), and now argue in defense of censorship of those that aren’t antigovernment.

    You previously also argued that ethics are “subjective”. For some people they aren’t even that. They are wafflers that contradict their own alleged ethics on the basis of whether the circumstances suit them. Sophistry.

  33. I am not “complaining”. I am pointing out the leftist thugs that run Greek Reporter resort to censorship.

    I also repeated provided you evidence that Greek Reporter does not object to posters swapping ids (seeing as Skopians constantly do it here). As I also said, staying with a single id will only make it easier for them to block .

    Th leftist thugs that run Greek Reporter only find interest in objecting when other are highly critical of them. They like to dish it out but when it comes time to being judged themselves… they turn into good like communists censors.

    Myself, I believe in free speech. Other than spam or prosecutable criminal activity, I would let even my most hated enemy post on a journalistic oriented blog. They are just words not crimes. Too bad some people that claim to stand for free speech, don’t match actions with words.

  34. Meritocracy is exactly what communists stand against. Free markets are about rewards people for hard work and talent.

    Communism is about taking wealth out of the pockets of those that earned it and giving it to those that didn’t. Comrade Tsipiras and his leftist flock subscribe to ideology of thievery.

  35. My Dear Editor. Why you deleted my comment??? There is no reason why you did. The entire world knows that Greece is thee number 1 corrupt country in the Euro Zone and dropped in the 94th position of the most corrupt countries in the world so please do me a favour and stop deleting my comments. Thank you

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