What is an Electronic Building ID Code?

 

Within the next few years, all private and public buildings will be registered on an electronic database and assigned a unique Electronic Building ID Code. This new type of property certification is part of the Greek Government’s effort to create an electronic database for all built property.

 

Once completed and implemented, The Electronic Building ID Code will be the key tool in the Greek Real Estate Market providing detailed information for all registered property. Property transactions and title searches will be simpler, faster and most importantly more transparent.

 

As announced by the Greek Government, the Electronic Building ID Code will lead to a new type of property certification. Certificates in effect and required by law such as the Declaration of Legal Property Status - Law No. 4178/13 and Energy Performance Certificates, will be replaced by a new certificate, the “Certificate of Completion”.  

 

What information is listed on an Electronic Building Id Code?  

 

The Electronic Building ID Code describes the “as-built status” of property, what has been built on-site in terms of dimensions, area surface and use of buildings.

 

Information collected from building permits and drawings, the Greek Tax Authorities, the Hellenic Cadastre details, Declarations of Legality and Energy Performance Certificates will all be recorded on an electronic database. All recorded details will be electronically linked to Greek authorities and public entities related to property ownership such as The Ministry of Finance and Public Power Corporation, securing access to the exact same property information.

 

How do I secure an Electronic Building Id Code for my property?  

 

In order for a property owner to secure their property rights in the future, all built property on-site must comply with their building permits and drawings. Owners of property with any type of violations will not be able to apply for an Electronic ID Code when enforced by law which will eventually lead to losing all entitlement to sell, rent or transfer their property.

 

However, property owners still have time to take advantage of the grace period for compliance, effective up to February 2016. To avoid unpleasant surprises in the future, owners of built property are suggested to conduct an on-site “legal check” and make sure their property complies with building permits and drawings.

 

As we mentioned earlier, a “Certificate of Completion” will be issued for all buildings that have been assigned an Electronic Building ID Code. In an effort to eliminate the long-lasting phenomenon of illegal undeclared property violations, this new certificate will be valid for a certain amount of years depending on the type and use of the built property and re-issued after periodical on-site inspections to ensure the legal status of property.

 

What documents will be needed for the Electronic Building ID code?

 

To view and download a list of essential documents every Greek Property Owner should have in their property portfolio, click here.

 

Feel free to contact us for further information concerning your property.

 

Related topics on   Property Management:  

                                 - Consulting & Property Portfolio

                                 - Maintenance

                                 - Declaration of Legal Property Status - Law No. 4178/13

                                 - Energy Performance Certificates

__Electronic Building ID Code

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