Greece Is Building a New Property Data Infrastructure

Greece is taking another step toward a more digital and data-driven real estate market.

A draft bill currently under public consultation provides for the creation of the Real Estate Values Bank, a central system designed to collect and monitor data on property sales, leases and market values across the country.

The system will combine information from public sources with data from private market participants such as banks, valuers and estate agencies. This data is expected to feed into Greece’s CAMA mass-valuation system, creating a clearer and more structured picture of how property prices are developing across different areas of the market.

Part of a Broader Shift

The Real Estate Values Bank becomes even more significant when viewed alongside MIDA, the Property Ownership and Management Registry operated by AADE.

MIDA brings together information related to property ownership, rights, use and management. The two systems serve different purposes, but they point in the same direction: Greece is building a digital property infrastructure in which ownership, use, transactions and real market values can increasingly be analysed through connected data.

The significance of this goes beyond simply creating another government database. Until now, the Greek property market has relied on several separate sources of information, including tax declarations, transaction records, cadastral data and market estimates. Bringing more of these signals into a structured valuation framework could give authorities a much more detailed view of how local property markets are actually moving, potentially down to specific zones and property categories.

For investors and owners, the key issue is therefore not an immediate tax change, but greater transparency and a potentially closer relationship between declared values, objective values and actual market prices. In areas where transaction prices have moved significantly ahead of official values, future adjustments could gradually narrow that gap. At the same time, better market data could improve valuation accuracy, reduce information asymmetries and make pricing trends easier to identify for both public authorities and private market participants.

What Could This Mean for Property Owners?

One of the main purposes of the Real Estate Values Bank is to support future revisions of Greece’s objective property values.

The last broad revision was decided in 2021 and took effect in 2022. In areas where market prices have risen significantly since then, the gap between market values and objective values has widened.

A future revision could therefore affect the taxable value used for ENFIA, property transfers, inheritances and parental gifts.

However, nothing changes automatically. Article 354 does not itself introduce new objective values or change tax rates.

Our View

The most important development may not be the database itself.

The digital infrastructure that could support the next generation of Greek property valuation is already being built.

For property owners, investors and families planning future transactions or transfers, this is a development worth following closely.

This article is for general information only and does not constitute legal or tax advice.