Monthly Archives: October 2019

Greece Freezes VAT on New Building Permits to Boost Housing Market

In an attempt to boost the Greek real estate market, PM Kyriakos Mitsotakis announced on Wednesday a three-year suspension of VAT payments on any new building permits as well as those to be made on unsold properties built after January 1, 2006. In an address to a conference hosted by The Economist magazine, Mitsotakis noted that the Greek real estate market is already recovering, with property prices increasing by an impressive 7.7 percent in the second quarter of 2019. He added that there