Over time, real estate has become one of the most important sources of revenue for the state budget. The relevant taxes are theoretically easy and very collectible. Real estate ownership tax is certainly known in all European countries. In Greece, however, the corresponding taxation, as implemented, led to unprecedented distortions and injustices, while the adaptation to European data was particularly sharp. At a time when the Greek economy is trying to change page after years of continuing recession, the real estate market could profit from a realistic reform of taxation, starting primarily with the harmonization of objective values with the corresponding commercial as well as with the institutionalization of new tax incentives for individuals and companies to invest, directly or indirectly, into real estate (via property acquisitions, property development, cash contributions to investment schemes, and others), thus contributing decisively to the sustainable development of our country.
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