Greek re­alty still hit by debt, tax

China Daily (Hong Kong) - - BUSINESS -

ly from a sig­nif­i­cant fall in agri­cul­ture pro­duc­tion, which was hit hard by the ex­cep­tion­ally bad cli­mate con­di­tions. Other fac­tors were rolling strikes over la­bor re­forms and a fall in tourism ac­tiv­i­ties due to re­cent at­tacks. The num­ber of re­pu­di­a­tions of real es­tate prop­erty in­her­i­tance in Greece has con­tin­ued to be on rise in re­cent years due to the debt cri­sis and the re­lated tax and debt bur­den, ac­cord­ing to a sur­vey pub­lished in Sun­day’s Kathimerini news­pa­per. Data gath­ered from district courts na­tion­wide showed that thou­sands of Greeks had opted to dis­claim their in­her­i­tance in the past six years. That was be­cause they were un­able to bear the in­creased tax­a­tion of real es­tate prop­erty, to pay off debts in­her­ited from their rel­a­tives and to cover the cost of pro­ce­dures con­cern­ing the ac­cep­tance of in­her­i­tance, the sur­vey showed.

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