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Greeks own property worth 1 trillion euro

19 September 2014 / 12:09:33  GRReporter
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Every sixth Greek owns at least one property (a home, office or plot of land) and the total value of their property amounts to 520.5 billion euro as per today's tax assessment.

The majority of the property owners, or one in seven Greeks in particular, own property and plots of land worth up to 100,000 euro, and only 2% of the owners, or 114,793 people, own residential property the tax value of which exceeds 500,000 euro.

The total value of the property owned by Greeks amounts to 1 trillion euro, if it includes the value of agricultural land, unregulated plots as well as of company-owned properties. Thus, accounting for the fact that the revenue to be collected this year from the property tax will amount to 3.2 billion euro, the total value of the new tax amounts will be 0.3% of the value of property in Greece.

The data analyses of the properties declared by taxpayers in Form Ε9 show the following:

- 5,569,336 people own property (homes, offices, shops, warehouses, etc.) and plots of land, the total tax value of which exceeds 520.49 billion euro. ​​The average property value is 93,456.65 euro.

- Every second property owner or 2,769,177 taxpayers have a small property worth no more than 50,000 euro. The total value of their property amounts to 63.56 billion euro, the average value of a single property being 22,954.80 euro.

- 1,356,081 taxpayers own properties and plots of land worth 50,000-100,000 euro. The total value of their properties amounts to 96.83 billion euro and the average property value to 71,404.53 euro.

- 881,698 taxpayers own real estate worth 100,000-200,000 euro, the total value of their property amounting to 122.27 billion euro and the average to 138,680.15 euro per property.

- 447,587 taxpayers or 8% of property owners have regulated and unregulated properties, and plots of land worth 100,000-200,000 euro. The total value of the property of those owners amounts to 132.46 billion euro or to 125,957.29 euro per property on average.

In addition to the single property tax this year 291,322 property owners will have to pay an additional tax if the tax value of their residential property exceeds 300,000 euro.

- Only 114,793 people, or 2% of the total number of owners, have declared residential property worth more than 500,000 euro. The total value of the residential property declared by the taxpayers in question amounts to 105.3 billion euro and constitutes 20.24% of the total value of all residential property declared by all the 5.57 million property owners in Greece. Each of these big owners has declared residential property with an average tax assessment worth 917,779.04 euro.

- 27,198 are the owners of residential property the tax assessment of which exceeds 1 million euro.

- Only 492 people own residential property with a tax assessment of over 5 million euro. The value of these properties amounts to 4.1 billion euro or to 8,466,889.08 euro per property on average.

Tags: PropertyGreeksHousesRegulated plots of landOfficesTax assessment
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