With the new tax billwhich recently submitted to the Parliament Ministry of National Economy and Finance, significant changes are introduced in the operation of the real estate market, reforming the existing institutional framework. The proposed provisions are aimed at stimulating the real estate market and the overall revitalization of the economy, including tax breaks, investment incentives and measures that facilitate transactions. At the same time, attempts are being made to address perennial challenges, such as the lack of affordable housing, the regulation of short-term rentals and adaptation to the effects of the climate crisis.

The new framework aims to reduce tax costs, simplify procedures and strengthen the confidence of citizens and investors in the market.

With an emphasis on sustainable development and the support of households, these reforms are a decisive intervention to create a favorable environment for the real estate market, redefining its role as a driver of economic development.

However, until it is passed, it is not excluded that there will be small changes in the content, especially regarding the regulation regarding the 3-year period for closed apartments, as POMIDA has already expressed its objections and has proposed specific interventions, which may affect the final form of the bill.

The 9 key interventions of the bill include:

1. Income tax exemption for properties that were declared vacant or used for short-term rental:

Homes of up to 120 m2, which were declared vacant or used exclusively for short-term rental in the years 2022, 2023 and 2024, will be exempt from income tax. The exemption applies to leases of at least three years to be concluded between 8 September 2024 and 31 December 2025. The measure aims to increase the availability of affordable housing through the long-term rental market.

2. Double reduction of ENFIA for insured properties:

From 2025, the ENFIA reduction increases from 10% to 20% for homes with a taxable value of up to €500,000, provided they are insured against natural disasters such as earthquakes, fires and floods.

3. Extension of VAT suspension on new buildings:

The suspension of VAT for new construction is extended until 31 December 2025, boosting construction activity and making it easier for investors and buyers.

4. Suspension of imposition of capital gains tax on real estate transfers:

The suspension of capital gains tax is extended until the end of 2026, facilitating transactions in the real estate market and attracting new investments.

5. Permanent exemption from ENFIA for listed buildings:

A permanent exemption from ENFIA is established for listed buildings with a value of up to 400,000 euros. This measure supports the preservation of cultural heritage by covering the high maintenance costs of historic properties.

6. End of climate crisis resilience:

A durability fee is introduced for tourist accommodation, scaled according to category and season. The proceeds will be used for natural disaster prevention and recovery projects.

7. Setting up the short-term rental in Athens:

For 2025, the registration of new properties for short-term rental in the 1st, 2nd and 3rd Municipal Communities of the Municipality of Athens is prohibited. Non-compliance carries fines starting at €20,000.

8. Exemption from ENFIA in the Municipality of Soufli:

The properties of the Municipality of Soufli are exempted from ENFIA for the years 2025, 2026 and 2027, strengthening the local society and economy.

9. Financial programs for housing and energy upgrading:

The “My Home” program is expanding with housing loans and increased subsidies for the energy upgrade of properties. The upper limit in “Renovate – Rent” increases from 10,000 to 13,500 euros, now covering 60% of the costs.

The bill, according to the ministry, aims to create a stable, development-friendly tax framework. By reducing the tax burden, strengthening property security and supporting construction activity, an attempt is being made to rewarm the real estate market. At the same time, the new framework responds to the needs of citizens and investors, creating the conditions for a dynamic and sustainable real estate market.