- The Ministry of National Economy and Finance presents 5 initiatives for properties in 2024.
- The goals of the government in this sector are to balance the housing market, increase available rental properties, respect property owners’ rights, and support construction.
- Starting from January 1, 2024, there will be an additional 10% reduction in ENFIA for homes insured for natural disasters.
- A new digital platform will be launched where taxpayers can confirm the details of their insured properties and calculate the reduced ENFIA for 2024.
- The tax exemption for energy, operational, and aesthetic upgrades to buildings will increase from 40% to 100% in 2024.
- The “Renovate-Rent” program will be implemented to increase the availability of rental properties by utilizing vacant private homes. The program will subsidize 40% of renovation costs up to €10,000.
- The suspension of VAT on new constructions will be extended until the end of 2025.
- Measures will be taken to restrict the Golden Visa program, increase investment thresholds, but there will be an exception for protected properties.
Source: minfin.gov.gr
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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