Real estate in Greece reaches almost 1 trillion euros
by Daphne Tsagari,, 19 September 2014

Greece holds a unique record in Europe: six in ten Greeks own some sort of real estate property, with the total value of their assets reaching 520.5 billion euros.

According to Imerisia newspaper, the total assessed value of real property owned by Greeks reaches almost 1 trillion euros, if we take into account the value of plots not included in the objective value price listing and business buildings.

According to data from the E9 real eastate property tax declaration, 5,569,336 Greeks own buildings (houses, offices, shops, warehouses, etc.) and land included in town planning zones with a total assessed value exceeding 520.49 billion euros. On average, individual property amounts to 93,457 euros per owner.

One in two homeowners, or 2,769,177 total Greek taxpayers, own real estate property worth less than 50,000 euros. The average value of their property reaches 22,955 euros.

1,356,081 taxpayers own property worth between 50,000 and 100,000 euros. The overall value of their property reaches 96.83 billion euros, or 71,405 euros on average.

There are 881,698 taxpayers who own property worth between 100,000 and 200,000 euros, while 291,322 homeowners will be asked to pay additional taxes besides ENFIA, since the assessed value of their residential property exceeds 300,000 euros.

114,793 Greeks have declared homes worth more than 500,000 euros, representing just 2% of all owners. The total assessed value of residential property declared by these taxpayers amounts to 105.3 billion euros. Each of the "large landowners" has an average residential property value of 917,779 euros.

Finally, 27,198 homeowners own residential property with an assessed value of more than 1 million euros, while 492 owners have residential property of an assessed value exceeding 5 million euros. The value of their property amounts to 4.1 billion, or 8,466,889 euros on average.