Fresh snag for realty mar­ket

Kathimerini English - - Focus - NIKOS ROUSSANOGLOU

It seems that Greece is striv­ing to be­come the coun­try with the worst bu­reau­cracy in the world when it comes to prop­erty trans­ac­tions, as a doc­u­ment that was taken off the list of nec­es­sary papers for a house sale three years ago has just been re­stored to its rightful place in the reams of red tape.

The list now con­tains a min­i­mum of 11 doc­u­ments re­quired, against an av­er­age of 4.7 papers for the coun­tries of the Or­ga­ni­za­tion of Eco­nomic Co­op­er­a­tion and De­vel­op­ment (OECD).

The fed­er­a­tion of prop­erty own­ers (POMIDA) stressed that as of yes­ter­day, with an amend­ment pub­li­ca­tion in the Gov­ern­ment Gazette, it is now oblig­a­tory again to at­tach to the sale con­tract a mu­nic­i­pal cer­tifi­cate stat­ing that the seller has paid his prop­erty tax (TAP) in full.

Worse, there is no grace pe­riod to grad­u­ally re­in­state this doc­u­ment af­ter a three­year ab­sence, which means that no con­tracts signed be­tween yes­ter­day and the mo­ment lo­cal au­thor­i­ties are in­formed through cir­cu­lars about the change in law will be valid. This in turn will lead the prop­erty mar­ket to a fresh freeze, POMIDA warns.

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