Greece Introduces an Automated Property Valuation System

In The News

08.04.2026

Eirini Notara

The Greek government is preparing to introduce a major reform in the way property values are calculated. A new automated system for determining “objective values”, the official property prices used for tax calculations, is expected to launch in early 2027.

This initiative aims to align taxable property values more closely with real market conditions, addressing long-standing discrepancies between official valuations and actual sale prices.

The objective value of a property is the official government-assigned valuation, used as the standard for calculating property-related taxes, including property transfer tax, inheritance and gift taxes, and the annual property tax (ENFIA). As these values have often differed from actual market prices, the new system aims to bridge this gap by aligning objective values more closely with real market conditions, ensuring a fairer, more transparent, and reliable framework for property owners and the tax authorities alike.

Bridging the Gap Between Market and Tax Values

Currently, objective values in Greece significantly lag behind real market prices. In many areas, actual property sale prices are estimated to be approximately 50% higher than the official values used for taxation. As the Minister of Digital Governance, Dimitris Papastergiou, puts it: “The official prices are far removed from actual market prices”, something that has created distortions in the real estate market and inconsistencies in how property wealth is assessed.

The planned reform seeks to eliminate this mismatch. Under the new system, objective values will be automatically adjusted based on market trends. If property prices rise, values will increase accordingly. If prices fall, objective values will decrease. This dynamic mechanism is designed to reflect real-time market conditions more accurately than the current static system.

How it Works

A central pillar of the reform is the development of a modern digital infrastructure that supports the automatic adjustment of property values. The upgraded platform valuemaps.gov.gr already provides access to key valuation data, including zone prices, adjustment factors, and detailed mapping tools, allowing users to better understand how property values are determined.

Alongside this, the introduction of the Property Ownership and Management Registry (ΜΙΔΑ), combined with its connection to the National Cadastre, creates a unified and reliable database of real estate information. This integration enables authorities to have a clear and comprehensive view of property ownership and market activity across the country.

Building on this digital foundation, the new system will operate by continuously collecting and processing information from various sources, including:

Public sector bodies and government services
Local land and valuation offices
Banking institutions that assess property values for lending purposes
Notaries who record transaction prices
Rental market trends, which indicate demand and pricing dynamics
Private real estate firms offering market insights

By combining these inputs, the system will track shifts in the property market and automatically adjust objective values in a consistent and timely manner.

In simple terms, instead of relying on occasional manual updates, the system will function as a dynamic mechanism that keeps property valuations aligned with real-world conditions in a consistent and timely way.

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What This Means for Property Owners

For property owners, the new system will bring long-overdue clarity. Official property valuations will finally reflect real market conditions, updating automatically as the market evolves. This means a more accurate and transparent picture of what their assets are actually worth.

The integration of the ΜΙΔΑ registry plays an important role here. With a centralized and detailed record of property ownership and characteristics, owners benefit from fewer discrepancies and a clearer picture of their assets, making property administration much simpler.

A Step Toward Fairness and Efficiency

According to the Minister of State, Akis Skertsos: “Until now, property valuations have been based mainly on listings, which often reflect expected prices. This creates significant differences between the listed and actual values, distorting the market to the detriment of buyers. It is therefore very important for citizens to have a sense of scale and to know the real selling value of a property in each area”.

Moreover, the use of advanced data analytics and digital tools reflects a broader effort to modernize public administration in Greece. The integration of systems like Valuemaps and ΜΙΔΑ demonstrates how technology can streamline processes, reduce bureaucracy, and improve the quality of public services.

Overall, this reform represents an important shift toward a more transparent and up-to-date property valuation system. By introducing a more transparent, data-driven, and continuously updated process, it has the potential to strengthen trust, improve clarity for property owners, and create a more modern and reliable framework for the future.

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