Finance Ministry Mulls Property Tax Freeze to Address Housing Crisis

07:25 16/9/2024 - Πηγή: iEfimerida

In a bid to alleviate the escalating housing crisis, the Ministry of Finance is reportedly considering freezing property taxes, known as "objective values," for at least the next year.

This move comes amidst concerns that a new increase in objective values, which were last adjusted three years ago, would trigger another surge in market prices, exacerbating the already acute housing problem.

The proposed

freeze would complement other measures announced by Prime Minister Kyriakos Mitsotakis at the Thessaloniki International Fair.

Additionally, the government plans to extend the suspension of Value-Added Tax (VAT) on newly constructed properties and the capital gains tax on properties, both of which are currently set to expire at the end of the year.

These suspensions are expected to be extended at least until 2025.

If approved, these measures would offer some relief to property owners and potential homebuyers, providing a much-needed reprieve from rising housing costs. The government's decision to prioritize the housing market reflects the growing urgency of addressing this critical issue.

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