Most citizens will pay even less ENFIA, permanently, from 2022 in a more socially just way, said the Minister of Finance Christos Staikouras, developing the proposals and political positions of the government regarding the real estate market for the current situation, speaking today , at the 39th Annual Panhellenic Congress of the Panhellenic Federation of Property Owners (POMIDA) representing the Prime Minister Kyriakos Mitsotakis.
The Minister pointed out that real estate suffered a significant blow during the multi-year fiscal crisis, due to – among other things – the over-taxation implemented by the previous government, while it is strongly affected by the ongoing health crisis and the current energy crisis, which leads in price increases in the field of construction. He thanked the landlords who responded positively to the government’s decisions and shouldered a significant financial burden, by adopting the measure of suspension of rent payments.
The Government, for its part, supported them in practice, proceeding with the payment of compensation, either through offsetting with new tax debts, or mainly through the immediate payment of a sum of money. In total, 808 million euros have been paid so far, while the outstanding issues, mainly in subleases, are estimated – by AADE – to be resolved by the end of February, said Mr. Staikouras.
The Minister stated, among other things, that the government is proceeding, with coordinated initiatives and targeted actions, to the utilization, in the optimal way, of the public real estate. In particular, he emphasized, among other things, the implementation of the reduction of tax rates and the introduction of tax incentives. Specifically, ENFIA decreased – on average – by 22% from 2019. “At the same time, we have introduced its abolition in small remote islands, as well as in areas affected by natural disasters, as a support measure. The Government is immediately proceeding with a courageous reform of ENFIA, which combines economic efficiency and social justice. Objective values ​​are adjusted, new areas are included, zones of objective determination of real estate value are expanded, the rates of determination of the basic tax are significantly reduced and the additional tax is incorporated in it. In this way, it is entirely possible for most of our compatriots to pay even less ENFIA, permanently, from 2022, in a more socially just way. “Announcements will be made in the coming weeks,” the minister said.
Mr. Staikouras also referred to the completion of the first phase of the reform of the framework for determining the objective values ​​of real estate. “With this, the system of objective identification zones has been expanded, weaknesses, gaps and injustices of the past have been corrected against many owners, the taxable base is expanded and, as I mentioned above, the fairer distribution of property burdens on real estate will be possible. In addition, a digital map of the imaging system of the zones of the objective determination of real estate values ​​was created, available to the citizens “, said the minister.
He also referred to the promotion of reforms that strengthen the real estate market in our country as well as the foundations that were laid to “detach” large investment projects and to proceed with the implementation of the privatization program. The effectiveness of the government’s policy, the minister said, is reflected in the improvement of a series of indicators which – as the Bank of Greece states in the Interim Monetary Policy Report – reflect the positive dynamics of the residential real estate market in 2021, as well as the improvement of its position. of our country as an investment destination for real estate.
In particular, the construction activity records high annual growth rates of the number and volume of new building permits (25.9% and 47.6% respectively) in the ten months of 2021, while net foreign direct investment in real estate shows a steadily increasing trend, gradually returning to pre-pandemic levels. In addition, investment in housing continued to strengthen in 2021, at a significantly high annual rate and business expectations for housing construction, as reflected in the relevant IOBE index, increased significantly in the eleven months of 2021 (47.1% compared to the corresponding eleven months of 2020).
Finally, the number of real estate transactions is estimated to record a positive pace in 2021. Regarding the purchase of commercial real estate, based on the Bank of Greece price indices, positive rates of change were recorded – in the first half of 2021, with the investment interest for commercial real estate to appear renewed. All this and given that the economy has entered a course of recovery, show that the Greek real estate market is expected to continue to grow in the coming years, said Mr. Staikouras.
“Obstacles that can stop this course exist. Obstacles that are not limited to the evolution of the pandemic, but are strongly related to the rise in prices due to the energy crisis, but also the lack of manpower in construction work. For our part, we are determined to continue to take all necessary initiatives that will strengthen the real estate market and promote the utilization of public property.
The proper utilization of the resources from the Recovery Fund and the NSRF programs will play an essential role in this effort. The results of these efforts will have multiplier benefits and will contribute significantly to the shift of the Greek economy to a new productive and development model, based on high value-added products and services, in sectors and sectors where our country has comparative advantages.
“This policy can provide significant, stable and long-term income for the Greek State, reduce the amount of debt and contribute – decisively – to the development dynamics of local communities and the Greek economy as a whole,” said the minister. He pointed out that in this joint effort, bodies such as POMIDA are useful and productive interlocutors, with a significant contribution to the formulation of economic policy in the field of real estate market.
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