New reforms include the abolition of tax on the transfer of ownership 7-11% on the first property, which is the place residence of the owner, an area of 200 square meters, the abolition of the progressive tax on large property and introducing a single tax on real estate. Recent changes contribute to attracting potential Buyers of expensive real estate in Greece, because now they will pay a flat tax of 0.1% of cadastral value of real estate compared to the previous progressive rate from 0.3% to 0.8%. Another positive change, that it should be noted - the tax cut in inheritance of progressive rates up to 20% to a fixed 1%, which is another advantage to potential buyers (both Greeks and foreigners), as their successors will face a much lower tax burden. Change and the system of state registration of real estate, which greatly simplifies the procedure for registration and enhances "Transparency" in this field. In February 2008, after years of waiting, the Council of Ministers approved a plan to develop tourist areas, paving the way for the planned construction of residential resort complexes, and facilitate the development of large-scale projects with well-developed tourist infrastructure. In accordance with the Government published a plan in the coming years in Greece will be built golf clubs, large residential resort complexes, hotels, meeting rooms, a marina, SPA centers, etc. This plan will make Greece a year-round tourist destination. The government plans to facilitate innovation through the inflow of capital for major construction projects.
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