Apartments for 10.000 euros due to “energy tax”

Apartments for 10.000 euros due to “energy tax”

Athens, December 7, 2015/Independent Balkan News Agency

By Olga Mavrou

Greek government is planning another revenue from real estate –any apartment for rent or sale, must be inspected for its  “energy status”, even if it’s as small as 50 m² (539ft²). The law until now excluded small apartments. Furthermore, if the owner places an ad for renting or selling his property, he must report (in the add) the energy status of it. The statuses is A for the energy friendly properties down to H for those with bigger energy consumption due to old age, construction and other factors that render it less eco friendly. In case of discrepancies, the owner might pay fines from 1.000 up to 10.000 euros.

The owners of old buildings (older then 40 years) will face a big challenge, since their properties are energy consuming. This  is the main reason they are selling them as low as  10.000 euros.