Tax incentives to strenghten the real estate market

On 8 February 2023, a draft bill no. 8149/00 aiming to revitalize private investment in the creation of housing has been submitted to the Chamber of Deputies (hereinafter referred to as “Bill”).

The objective of this Bill, limited in a first phase to the tax years 2023 and 2024, is to address, through fiscal means, the current crisis in the real estate sector, which estimates that the number of housing units completed in 2023 will fall from 3,800 to 2,300, with prices having risen by more than 100% in the last 10 years, according to the Observatory of Housing.