Greece is preparing a major change in how property values are calculated. A new automated system for determining "objective values" — the official prices used for tax purposes — is expected to be introduced in early 2027.
Today, there is often a noticeable gap between official property values and real market prices. In many areas, properties are sold at significantly higher prices than the ones used for taxation. This creates inconsistencies and confusion for both buyers and property owners.
The new system aims to solve this issue by aligning official values more closely with actual market conditions. Instead of being updated occasionally, property values will adjust automatically based on real data. If prices increase, official values will follow. If the market slows down, they will adjust accordingly.
This change will be supported by a more advanced digital infrastructure. Platforms like valuemaps, combined with national property registries and the cadastre, will create a more transparent and accurate database. Data will be collected from banks, notaries, public institutions, and the real estate market itself.
For property owners, this means more clarity and a more realistic understanding of their property's value. It also simplifies the system and reduces discrepancies that existed in the past.
Overall, this reform is a step toward a more transparent, modern, and fair real estate market in Greece — something that benefits both investors and property owners.
