Greece to establish Real Estate Value Bank for property data

The Greek Ministry of National Economy and Finance is developing a new digital mechanism known as the Real Estate Value Bank (TAA). This platform aims to collect data from public services and private real estate entities to create a comprehensive overview of actual market prices for sales and rentals across the country.

According to the proposed legislation currently under public consultation, the TAA will serve as a central information hub. While the system is designed to eventually allow for the automated adjustment of objective property values based on real market conditions, officials have clarified that there will be no immediate changes to property values, ENFIA, or transfer taxes.

The ministry's timeline indicates that the automated calculation system is not expected to be activated until the end of 2027. Until then, the platform will function primarily as an information-gathering and preparatory tool, meaning high-priced sales in specific areas will not trigger automatic increases in objective values.