Greece has introduced the so-called Electronic Building Identity (Ηλεκτρονική Ταυτότητα Κτιρίου) system for all buildings throughout the country, in a move seen boosting security and transparency for homeowners.
By creating an electronic file on each property that contains information on its current condition and changes made throughout its lifetime, investors and stakeholders will have immediate access to crucial details of the home, helping them make better informed decisions.
The system was introduced by legislation last year and currently applies to all property (apartments, detached homes, etc) being bought or sold. Until March 31, 2022, this was only on an optional basis, but after that date it is mandatory for all real estate transactions.
The electronic file needs to be prepared by a registered engineer and will include information such as construction plans, the building permit, its energy performance, and whether any extensions or alterations have been made to the house and declared.
Once this file has been completed and submitted to the authorities, an electronic ID number is issued, and this is what will be necessary for the completion of property acquisitions. Without this number, homes will no longer be able to be transferred.
In effect, the ID involves work that professional civil and architect-engineers are already doing for their clients.
“It is better organizing the entire process in the interests of homeowners and the market. This should have been done years ago,” says Elxis managing director Giorgos Gavriilidis.
The online file will be updated every time building work or alterations are executed and needs to be complete in the event that a spot check is carried out by officials. Homeowners will still be required to keep the same information in hard copy.
Online, faster and smoother
All data in the electronic file will also be linked to the National Cadaster, as more and more state services move online in Greece, boosting efficiency for home buyers.
At a time where Greece’s housing market is performing strongly, the digital ID is a key reform following other significant improvements being completed.
The continued roll out of the National Cadaster and the drawing up of forest area maps are changes adding transparency and appeal to Greek homes that are becoming far more competitive at a European level.
In the meanwhile, however, prices in Greece are still considerably lower than in other southern Europe countries, such as Spain and Italy, posing buying opportunities.
In the short term, the electronic property ID will cause an increase in paperwork for those selling their house but at the same time it will pose a major benefit in the mid to long term, depicting a more accurate picture of Greece’s housing stock, adding depth and liquidity to the sector.
Contents
The engineer will need to create a well-organized electronic file for the property, including all data (documents & plans) for each building, such as:
- Building permit and potential amendments
- Drawings supporting the building permit (topographical survey, floorplans)
- Structural stability certificate or structural capacity study
- Floorplans depicting the building (in case the building permit’s file is incomplete)
- Accessibility study for persons with reduced mobility
- Construction inspection certificate (if issued)
- Legalization certificate for illegal constructions
- Energy performance certificate
- Board of co-owners’ participation percentage and cost attribution (for apartments)
- Title deeds
- Cadastral registration number
- Certificate of Completeness of the Electronic Building Identity.
