In 2025 Greece will launch an application that records real-time data on property sale prices, expecting that increased transparency will eventually lead to a decline in the currently inflated prices on the property market. The app, which is under development, is expected to be fully operational by summer 2025. Read the full article on Tovima.com.
- The application will use AI technology to collect and analyse data from multiple sources, such as transfer agreements, sales advertisements and information from the tax authority and land registry
- The platform will only show property characteristics, including type, size, age and location, as well as the sale price or rental fee, without revealing taxpayers’ personal data
- The app will be free for individual users, but there will be a fee for access to more comprehensive data, which could be valuable for banks, estate agents and other professionals
- Using the collected data, buyers, sellers and renters can compare prices quoted in adverts and by estate agents
