Greece’s finance ministry has put a draft bill out for public consultation that sets up a Real Estate Value Bank, a database of actual property sale prices and rents. It is groundwork for updating the “objective values” used to tax property.
The Ministry of National Economy and Finance announced the consultation on 7 October 2026. The bill is mainly about private debt and loan servicers. The value bank sits in Article 354 of the draft. It is a draft bill, not law.
The database would collect data on property transfers, leases and values from public bodies. Private-sector data, from banks, valuation firms and brokerage networks, could be added through cooperation agreements. Data would be collected without details that identify people or companies. The ministry’s Independent Department for Property Valuations and Value Determination would run it. Retention and security rules are left to a later joint decision of the finance and digital governance ministers.
Why objective values matter
Objective values (antikeimenikes axies) are the state’s own zone prices for property. They are the base for transfer tax and for inheritance and gift tax, and zone values also feed into the annual property tax (ENFIA). The last general readjustment was decided in June 2021 and took effect on 1 January 2022. Today, zone values change through proposals, committee reviews and a ministerial decision.
The value bank would supply market data for a mass valuation system, which aims to bring zone values closer to market prices. That system was legislated under Law 5073/2023 but has not been switched on. According to Greek media reports on the bill, it would use econometric models and machine-learning techniques, with separate approaches for homes, shops, industrial property, plots and farmland.
Accounts of the timing differ. The value bank itself does not change objective values, ENFIA or transfer tax. One account says government planning points to an automated system from the end of 2027, with no readjustment before the 2027 elections. Another says automatic readjustment could take effect in 2028, if the government decides to go ahead.
The same draft also covers inherited property where the Greek state holds a share. The co-owner with the largest stake could ask to buy the state out, at least five years after the inheritance opened. The price could not be lower than the state share’s objective value or the appraisers’ estimate.
What it means for buyers
Nothing changes for a purchase signed today. If zone values later move towards market prices, taxes based on them could rise where market prices are higher and fall where they are lower. Buyers holding property for many years, or planning to pass it on, should keep this in mind alongside the inheritance and gift tax rules and ENFIA. Buyers should confirm how this applies to them with a Greek lawyer or accountant.
What happens next
After consultation, the bill goes to the Hellenic Parliament. No date for a vote has been announced.
Sources
- Ministry of National Economy and Finance: new framework for debtors and servicers put to consultation, 7 October 2026
- Draft bill of the Ministry of National Economy and Finance, Articles 349–350 and 354 (public consultation, October 2026)
