By Vangelis Dourakis

The “ice” remains the “haircut” of objective real estate prices in the 12 municipalities of the country that came out of “winning” from the objections they filed for values ​​adjustments in June ’21. The redefinition of objective values ​​in 36 zones of these municipalities remains pending, as private appraisers who have undertaken the project have not yet completed the relevant suggestions to the Ministry of Finance.

Although the original design provided for completion of the process within 15 business days of assigning the project to appraisers, the timetable has not been respected by the process of proceeding with … “turtle rhythms”. However, even if the reductions in objective values ​​are “sealed”, they will not apply retroactively, but from the date of publication of the relevant Ministerial Decision.

What happened after the adjustment of 2021

The objective values ​​of the real estate were adjusted in June 2021, following the recommendations submitted by the appraisers hired by the Treasury.

The appraisers’ suggestions were based on the real estate market prices recorded by 2020, when the project was assigned to them.

On the basis of the appraisers’ proposals, the Ministry of Finance corrupted the objective prices, which, although announced in June 2021, have been in force since January 1, 2022.

However, in some municipalities in the country there were reactions, as it was considered that real estate prices in certain zones were higher than commercial.

The Ministry of Finance then called on the municipalities of the country, which believed that the objective prices were higher than the markets to submit specific requests and examples.

They submitted relevant requests of about 169 municipalities, but the responsible committee of the Ministry of National Economy and Finance accepted only the objections to the country’s 12 municipalities.

Indeed, the “correction” will not concern all areas, but only individual zones, which total 36.

How will real estate prices change and in what areas

In order to make the relevant corrections to the prices, according to the guidelines of the Ministerial Decision, appraisers can search for comparative elements of the most commonly answered real estate in each zone, so that, with appropriate reductions, the starting value per zone.

That is, in each zone, they will look for the purchase/sale prices of at least three real estate similar features, based on age.

The real estate legal transactions should have been done in 12 months, from January 27, 2019 to 27 January 2020.

The assessment may be used comparative data derived from the professional activity of the appraisers.

Comparative data derived from nearby areas outside the zone are only accepted if necessary by appraisers and after special justification.

The autopsy in the assignment area is considered necessary, while the autopsy of the comparative used is deliberate but not mandatory. Appraisers attribute to their estimates the differences in real estate values ​​from zone to belt and from region to region.

Objective prices are expected to be reduced in the following zones of 12 municipalities:

F ‘of the Municipality of Vrilissia

I ‘and H’ of the Municipality of Halandri

I of Agioi Anargyroi of the Municipality of Agioi Anargyroi-Kamateros

B ‘and C’ of Kamateros of the Municipality of Agioi Anargyroi-Kamaterou

E of the Municipality of Glyfada

E ‘, Z’, I ‘, I’, IA ‘, IB’, IG ‘, I’ and IZ ‘of the Municipality of Piraeus

IB ‘of the Municipality of Pyrgos Ilias

I of the Municipality of Ithaca (includes the whole city)

I of the Municipality of Astypalaia (includes the whole city)

I of the settlements of Volada, Kyra Panagia, Menetai, Gates, Spona, Theologos and Kremastis of the Municipality of Karpathos (each settlement is only one zone)

I of the Municipality of Karpathos (includes the whole city)

I of the Pastida settlement of the Municipality of Rhodes (includes all the settlement)

A ‘, E’, Z ‘and F’ of the Municipality of Rhodes

1 of the settlements of Emporios and Pedion of the Municipality of Symi (each settlement is one zone)

D of Loutraki of the Municipality of Loutraki-Perachora.