New Greek property registry off to a slow start
11 July 2008
Property investors in Greece are being reminded that they need to check if their property is registered, and if not, register it as the country attempts to put in place its first ever land registry.
Since it was launched on June 17th progress in the first stage covering 107 areas has been slow. Public officials in some area have already gone on strike claiming that their workload has tripled. The deadline for Greek owners is September 30 and for foreign owners December 30, but these deadlines are widely expected to be extended. There are thought to be some three million properties that are not registered.
A government official said just 2% of foreign owners have registered so far. Property consultants are advising foreign owners to register sooner rather than later to avoid the log jam as deadlines approach.
Property owners will be able to visit one of 76 land registry offices to submit their paperwork or can fill in the forms online at the registry's website. It will cost applicants €35 to register each property and another €20 for any other facilities, such as separate storage rooms or parking bays.
It is not the first time Greece has attempted to create a proper land registry. Millions have been spent on previous attempts all of which have failed.
It is part of a bigger government drive to make buying and selling property in Greece easier. Additional planning laws are being put through parliament to make it easier for individuals to buy and build their own home in Greece too.
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