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Athens Macedonian News Agency: News in English, 16-01-20
CONTENTS
[01] Greek gov't announces lowers property values by up to 19 pct
[01] Greek gov't announces lowers property values by up to 19 pct
Greek Finance ministry on Wednesday announced a decision to lower
official real estate values by 19 pct in a move aimed to bridge a
gap created between commercial and official property values due to a
prevailing crisis in the domestic real estate market.
The decision was signed on Tuesday and will have a retroactive effect
from May 21, 2015. The decision envisages the creation of nine price
zone grades throughout the country with different percentage price cuts,
ranging from 5 to 19 pct.
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