Real Estate: What the digital file will include –

The number of foreclosed homes across the country that could be put on the market to address the housing crisis is expected to be revealed by the file on all taxpayer-owned properties.

AADE, in collaboration with the Land Registry, began to set up the Property Ownership and Management Register which will be activated in 2025 and will include all information on taxpayers’ properties from their basic characteristics such as type of property, area, location, floor, electrified, incomplete, vacant, co-ownership amount up to and including whether leased or freehold, monthly and annual rent amounts, tenants details.

Vacant properties

The government does not have a complete picture of vacant properties in particular. The latest available ELSTAT figures, based on the 2021 census, show 793,884 vacant properties of which 255,300 are in Attica, 229,627 in Northern Greece, 182,918 in Central Greece and 126,035 in the Aegean islands and Crete.

«We cannot know exactly how many are the closed properties” said yesterday the commander of AADE, Giorgos Pitsilis at the Prodexpo conference, pointing out that the picture will change in 2025 “when and when the Registry of Property Ownership and Management will be developed, in collaboration with the Land Registry».

But the chief economic adviser of the Prime Minister, Alexis Patelis, pointed out that “The government will focus on creating better databases and ensuring greater transparency in the property market, saying there is a huge amount of information across different agencies that needs to be “buttoned up”.».

File for each property

The new digital file for taxpayers’ immovable property will include:

1. The details of the electronic “Directory” which has been created with the E9 declarations of natural and legal persons. The data of the Portfolio will be transferred, without the intervention of the taxpayers. Then the owners of the properties will check their property image and if they find differences or omissions they will proceed with corrections.
2. The information on leased properties obtained from the AADE electronic platform for property leases as well as the E2 form of the tax declarations in which the incomes obtained by taxpayers from rents are recorded.

The new special application will also be accessible to tenants who will see the properties they rent in and in case they detect discrepancies (e.g. lower rent than what they pay to the owner of the property) or find that the rented property has not been declared they will be obliged to declare the properties they rent and the amounts – rents they pay.

In this way, AADE will be able to directly cross-check the properties declared as rented out as well as the amounts of rent collected and declared by the owners and tenants.

The Real Estate Ownership and Management Register will be automatically updated each time the rental information statement is submitted by the property owner and accepted by the tenant of the same property. Also, this Register will be automatically updated every time an owner declares the termination of the lease of a property.

Land registry

At the same time, the Registry will be interconnected:

• With the electronic file of the income tax returns of natural and legal persons, in order for the income obtained by the owners from the exploitation of their real estate to be pre-filled by the AADE in forms E1 and E2 of their tax returns, and the expenses of the tenants for rent payments that these are also pre-filled in their own E1 forms and virtually no additional data filling action is needed by both the owners and the tenants.
• With the data declared in the National Land Register, in order to identify and correct discrepancies in the descriptive data of the properties declared by private individuals and by the State, but also to reveal and record the differences and claims between private individuals and the State on disputed lands.

Source: ot.gr