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Greece Temporary Suspends Reform in Real Estate Asset Prices Regime

Αssociated press

A general view of the city of Athens with the ancient Acropolis hill on the background, Tuesday Jan. 28, 2020. (AP Photo/Petros Giannakouris)

ATHENS - The Greek Finance ministry on Thursday announced the temporary suspension of a measure to readjust real estate official prices throughout the country in view of the emergency conditions prevailing in the country because of the coronavirus and the need to deal with the negative effects of the pandemic.

In an announcement, the Finance ministry said it will pay in full the work done so far by private real estate advisers and noted that the suspension will last as long as the emergency measures remained in valid. It added that a readjustment of an existing framework of assessing real estate asset prices remained a significant reform of the ministry and will be implemented normally at a later stage.