A Digital Platform for Calculating Greek Real Estate Objective Values is in Operation

On Monday, the 28th of June, 2021 a joint press release by the Ministry of Finance and the Ministry of Digital Government announced the launch of the digital platform (Value Map), a platform dedicated to mapping and calculating the objective value for Greek real estate per zone.

The tool is to facilitate allocating the property in question, the zone of the property and therefore the ability to calculate its objective value. The creation and implementation of the platform was a collaboration between the General Secretaries of Economic Policy Mr Christos Triantopoulos and Secretary-General Public Administration Information Systems Mr Demosthenes Anagnostopoulos.

This digital platform/ tool is part of a major initiative by the Greek government starting from the year 2019 to digitalize and reform the bureaucracy needed for every homeowner in Greece. At an initial step investors and future homeowners can have an estimation of the fair value for real estate by entering different variants such as:

  1. Property’s location Property’s
  2. Floor level Property’s attached neighbourhood
  3. Building age
  4. Type of property

The enriching of the platform tool will continue to be developed and is still an ongoing process, at the moment objective values can be accurately accredited through a public notary.

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