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Greece: one third of owners can't pay the taxes on housing

12.10.2015
Homesoverseas.ru editorial office
98

According to a study by Marc, presented at the Prodexpo Real Estate conference in Athens, the owners of housing in Greece assess the current situation in the real estate market as complicated - 3 out of 10 respondents said they will not be able to pay taxes on housing this year. This is the story of the Greek real estate portal Ekathimerini .

The study was conducted at the end of September 2015 and represents answers to key questions about the property market in Greece of representatives of 805 households.

40.5% of Greek tenants reported that they regularly delay rent payments, although almost 70% have already received discounts due to the financial crisis. And each of the three borrowers of mortgage loans is experiencing payment problems.

With regard to expectations of further market development, mainly negative forecasts concern a significant discrepancy between supply and demand in the country. Respondents expect that the level of supply in the future will be four times higher than demand - and only 4.5% of them noted that they are thinking about buying a house in the next three years, and 19% said they plan to sell their housing during this period. Nine years ago, in 2006, the study said, the situation was the opposite: 22.6% of respondents planned to purchase real estate, and 12.3% were potential sellers.

About 50% of the survey participants believe that prices will continue to decline further within the next two to three years. For comparison: in 2013, 65% of respondents predicted a fall in prices. 31% of respondents believe that prices will remain stable.

Two-thirds of respondents (65%) believe that to restore the real estate market, the government should rationalize the system of tax collection and improve the bureaucratic schemes associated with this process. 37.3% of respondents believe that the tax system is the main obstacle for attracting investors to Greece, followed by political uncertainty (27.3%) and bureaucracy (15.7%).

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