Aiming to end handwritten declarations and delays at tax offices, the Independent Authority for Public Revenue (AADE) is expanding the myPROPERTY platform to include property transfers in more than 2,100 areas that fall outside the objective value system. The new digital application is expected to be activated from 2027, paving the way for electronic submission of transfer tax declarations, gifts, parental provisions, and inheritances even in cases where the property value is not automatically determined by objective prices, but requires special assessment by the tax authorities based on comparative data from neighboring areas and taking into account the specific characteristics of the property.
Currently, these specific cases require handwritten declarations, physical presence at tax offices, and multi-month waiting periods until the process is completed. Through digitization of the procedure, AADE aims to reduce bureaucracy, minimize taxpayer inconvenience, and accelerate transfer completion.
The new digital model is expected to primarily benefit residents of island and remote areas, where a significant portion of properties remains outside objective value determination. Additionally, automation of the issuance and notification of tax determination acts is planned for declarations that are not automatically cleared by the myPROPERTY system.
The plan for complete digitization of property transfer declarations through the myPROPERTY platform unfolds during a period when the real estate market is moving at breakneck speed, with transactions having increased by almost 40% within two years. Real estate is recording consecutive records in sales, parental provisions, gifts, and inheritances, confirming the momentum the sector has developed recently.
According to Independent Authority data, property transfers in the first two months of 2026 show significant acceleration, with corresponding tax collections increased by 11% compared to last year. In February, the increase exceeded 30%.
Specifically, the total property transfer tax from buildings and plots in the first two months of 2026 reached €96.52 million, from €86.89 million in the corresponding period of 2025, recording an 11.1% increase. Transfer tax on buildings amounted to €81.25 million, versus €72.87 million, showing an 11.5% rise. During the same period, taxes and fees on gifts, parental and other provisions that were confirmed reached €38.36 million, from €38.38 million in the first two months of 2025.
Beyond domestic demand and increased foreign buyer interest, the explosion of new contracts is also fueled by the upcoming readjustment of objective values at the end of 2027, which is expected to lead to significant increases, even above 40% in areas where the “gap” with commercial prices remains large, resulting in substantial tax burdens for property owners.
