With the government having agreed with creditors to produce new, nationwide real estate valuations by March, the finance ministry is scampering to find expert valuators to cover 2,694 municipalities and communities nationwide.

The valuators will determine the zone price of real estate, but the ministry has been confronted by obstacles that will make it extremely difficult to abide by the agreed timetable, as only one in three certified valuators that were approached expressed an interest in undertaking the arduous and complex task.

Although the initial aim was to bring the tax valuation price in line with commercial prices, the fact that the real estate market nationwide has frozen, there are few reliable data on which to base a valuation.

The finance ministry has, therefore, announced a new call to valuators, with a 31 January deadline for submission of applications, at the General Secretariat for Public Assets.

The zone prices that valuators propose will not be binding. They will be compared to data from the Bank of Greece and the registry of property transfers. The ministry will then make the final determinations.


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