As outlined throughout this series, the laws relative to property ownership in Greece have been changing considerably over the past several years. Illegal Structures, Energy Performance Certificates and the Hellenic Cadastre are all part of these changes. However, all these laws ultimately lead up to the final topic in this series, the Electronic Building ID Code (Illektroniki Taftotita Ktiriou).

The Electronic Building ID Code is a new type of certification that will modify the Greek real estate market as we know it today. All real private and public property will be recorded online on a complete and reliable property database.

This new certification describes the ‘as-built status’ of property, meaning what has actually been built, in terms of area and use. Pertinent documentation such as permits, drawings, Legal and Energy Certificates (discussed in Part II and III), Cadastre Details (Part IV), will all be registered electronically and each property will then be assigned a unique Building ID Code by the Ministry of Environment.

The way the system works today, it is impossible for the Greek government to keep track of all existing built property. Through this new regulation, however, all information will be monitored and electronically linked to public entities engaged with property ownership, such as the Ministry of Finance, the Hellenic Cadastre and the Public Power Corporation; all will have access to the same registered details.

This of course requires that all buildings comply with their legally issued permits. Owners holding property with any type of violations will not be able to apply for an Electronic ID Code, eventually losing their entitlement to sell, rent, transfer to family, or even inherit property. Nonetheless, owners still have time to take advantage of the grace period for compliance, effective until February 2016, and conduct an on-site ‘legal check’ of their property.

As announced by the Greek government this past month, this new requirement will come into effect in 2015. Building owners with declared property through the two major amnesty laws since 2010, Laws No. 3843/10 and 4178/13, are subject to register within the next five years and all others will gradually follow. New buildings or extensions to existing buildings as well as buildings issuing renovation and repair permits will also be among the first required to apply. All unregistered property will automatically be considered ‘illegal’ and subject to extremely high fines.

Once the Building ID Code is in effect, certificates required today when conveying real property will be replaced by the Certificate of Completion, valid for a certain number of years depending on the building type and use. In an effort to eliminate the long-lasting phenomenon of illegal undeclared property and to improve the Greek real estate market, property owners will be required to re-issue these certificates after periodical on-site inspections by certified architects.

Without a doubt, the Electronic Building ID Code is the most important of all ‘fast-tracking’ of new laws. Future property transactions, and even title searches for possible inheritance, will be simpler, faster and most importantly, more transparent. Once completed and fully implemented, it will be the key tool in the Greek real estate market, providing accurate information with a click. Property ownership in Greece will finally be protected for every single land and building owner, as well as for their inheritors.

* Katerina Sirouni was born and raised in Chicago, Illinois. She is an architect- engineer and received her degree from the National Technical University of Athens in Greece. A licensed architect, she is a member of the National Technical Chamber in Greece, the Association of Architects in Greece, and the Hellenic Energy Inspectorate. Katerina will soon be presenting workshops in Chicago, with more tips to help Greek Americans navigate these new laws and regulations. Visit her website for details, and for more info on Greek property laws: www.ksirouni.com