The new fair values will result in the formation of the new ENFIA in 2021 – but with implementation from 2022 -, with new rates, harmonized with the adjustment of fair values, with a new structure and structure and with the maintenance of its overall fiscal neutrality. tax – that is, despite the changes in fair values, public revenues provided by ENFIA will not increase.
The decision was published in the Government Gazette by the Ministry of Finance to adjust the fair values of all real estate in the country, where an average increase of 8% is foreseen in 13,808 zones, where the system of objective determination of real estate value is now applied.
Regarding the results of the adjustment and updating of the zone prices and depending on the category of the zone, the zones are divided into the old (existing) and the new (new additions and extensions).
For the whole territory the picture for the new zone prices is generally upward: at + 8%
-in 55% of all zones the values increase with the average increase to 19.5%
-in 21% of the total zones a decrease is recorded with an average decrease of 14.76%
-in 24% of all zones remain unchanged.
– In the 133 new entries the zone prices increase by 41% on average
In the 3,478 new areas that acquire objective values for the first time, the picture is as follows:
– for 40% there are increases of 26% on average
– for 44% there are reductions.
In particular, in the new zones (new inclusions and extensions), which amount to 3,643 zones (26% of the total zones of the system), which until recently were outside the system of objective values and received the lowest zone value of the municipal unit or municipality or regional unit, significant changes are identified.
From the new zones, the extensions of the existing zones show an increase to 80% of the 165 zones. Their inclusion in the system results in the increase of zone prices on average to 41% compared to the existing ones, through the process of certified appraisers. A large increase, by 229%, is found in three zones of Mykonos, as they were estimated until today with a price of 1,200 euros and their final price is now between 3,800 and 3,950 euros, while significant increases are found in zones of areas, including Lagonisi, from 750 to 1,450 euros (increase 93%), Maroussi, from 1,300 to 2,000 euros (increase 54%), Chalandri, from 1,250 to 1,900 euros (increase 52%), Corfu, from 1,050 to 1,600 euros (increase 52 %), and Nea Alikarnassos, from 650 to 900 euros (increase of 38%).
At the same time, from the new zones, the new inclusions show an increase to 40% of the 3,478 zones, which is an average of 26%. Increases, through the process of certified appraisers, located in areas whose zone price was outside the system of objective determination, such as Ithaca, from 600 to 2,100 euros (increase of 250%), Rhodes, from 700 to 2,100 euros (increase 200%), Kos, from 650 to 1,350 euros (increase 108%), Kassandra, Halkidiki, from 800 to 1,550 euros (increase 94%), Cephalonia, from 700 to 1,250 euros (increase 79%), Heraklion Peninsula , from 600 to 1,050 euros (increase 75%), Anavyssos, from 1,050 to 1,700 (increase 62%), Skafidia Ilia, from 650 to 950 euros (increase 46%), and Patmos, from 650 to 900 euros ( increase 38%). At the same time, there are many areas where the zone prices were reduced in relation to the price set outside the system of objective values, as with the suggestions of certified appraisers, the characteristics of the area were approached more accurately. In particular, from the new accession zones, a price decrease is shown by 1,509 zones, ie 43% of the new accessions, which is on average 18%. Reductions are found in areas of areas, such as Florina, from 600 to 300 euros (reduction 50%), Chios, from 800 to 450 euros (reduction 44%), Prespes, from 600 to 400 euros (reduction 33%), the Amynteo, from 600 to 450 euros (25% reduction), and Orestiada, from 500 to 400 euros (20% reduction).
Regarding the old, the existing, 10,165 zones of the objective system, the trend that appears from the suggestions of the certified appraisers is upwards, as the 6,105 zones increase by an average of 18%. Increases, through the process of submitting suggestions by certified appraisers, are found in areas of areas, such as Santorini, from 1,100 to 2,250 euros (increase 105%), the center of Athens, from 1,850 to 3,600 euros (increase 95%), Nafplio , from 1,300 to 2,200 euros (increase 69%), Paleo Faliro, from 1,650 to 2,750 euros (increase 67%), Vouliagmeni, from 2,400 to 3,850 euros (increase 60%), Glyfada, from 1,650 to 2,550 euros ( increase 55%), and Elliniko, from 1,700 to 2,200 euros (increase 29%). 2,729 zones remain unchanged, representing 27% of the existing zones, while 1,331 zones (13% of the existing ones) show a decrease, which averages 11%. Reductions are found in areas of areas, such as Farsala, from 500 to 250 euros (reduction 50%), Naxos, from 800 to 500 euros (reduction 38%), Ano Liossia, from 650 to 450 euros (reduction 31%) , Dodoni, Ioannina, from 550 to 400 euros (reduction 27%), Konitsa, from 600 to 450 euros (reduction 25%), and Dervenochoria, Boeotia, from 500 to 400 euros (reduction 20%).
It is worth noting, with regard to the old – existing zones and, in particular, the comparison made on the basis of the prices of 2018, that the prices before the reform do not fully correspond to the recommendations of certified appraisers, which were submitted in 2018 during the previous nationwide update. As a result, certified appraisers’ current estimates include changes – from the previous period – that should have already been incorporated into fair values, but this has not been done. Therefore, in many cases the increases in new prices compared to pre-existing ones, reflect the real picture of the real estate market, which was not implemented in 2018 and its adjustment was postponed to the future. In summary, for the whole Territory the picture for the new zone prices is relatively upward, as (a) 7,634 zones (55% of the total) show an increase with an average increase of 19.5%, (b) 2,860 zones (21% of the total) show a decrease, with an average decrease to 14.7%, and (c) 3,314 zones (24% of the total) remain unchanged.
Will the adjustment of the objective values cause an increase of ENFIA?
This reform goes beyond the data of the past, as the increase in objective value does not mean an increase in ENFIA, which is the object of concern of most owners. It is a reform that will result in the formation of the new ENFIA in 2021 – but with implementation from 2022 -, with new rates, harmonized with the adjustment of objective values, with a new structure and structure and with the maintenance of its overall fiscal neutrality tax – that is, despite the changes in fair values, public revenues provided by ENFIA will not increase.
On the contrary, taking into account the fiscal space, as well as the data of the economy in the next period, the possibility of further reduction of ENFIA will be considered, following the reduction of 22% that occurred in 2019, implementing the commitments of the government.