Tax office

The government wants to create “special forces” in tax services, coordinating its specialized services.

However, what I’m learning is that the next few months will come under fire as it relates to real estate.

From buying and selling to leasing.

Artificial intelligence

It is known that the tax authorities were generally more “forward” than many public services.

Artificial intelligence, therefore, is in the objectives of the authorities, in order to make better intersections.

The goals

As stated by the decision-makers, the crossings will begin in the next period.

They will concern Airbnb owners and other categories of short-term rentals, undeclared real estate sales, income from the Booking platform and foreign payment services.

“Bells” for the Cyclades

Of course, as I learn, especially on the Airbnb front, the “treasure” can be coal.

Despite this fact, its revenues this year are estimated to exceed 5 billion euros.

According to market players who spoke to “OT” about the course of short-term rentals, there is a drop in demand for popular Cycladic destinations (Paros, Santorini) by as much as 30%, in the heart of the tourist season with visitors setting sail for … new places.

Evia, Peloponnese in the foreground

The “humble” mainland country (Evia, Peloponnese) which is accessible even without a boat, registers a rise in demand by even 40% with tourists now widening the fan of their travel options, spreading their nets to more “quiet”, at least until now, destinations.

The El Dorado of the Mediterranean

In any case, the real estate sector is one of the sectors that shine in the country.

As European property markets face challenges from inflation and rising interest rates, the property sectors in Greece, as well as Cyprus and Serbia, continue to show resilience.

They offer attractive opportunities for both international and local investors.

It was also certified by Danish International Consultants (which works with BNP Paribas Real Estate), a leading real estate consulting company.

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Incentives for doctors

The Minister of Health, Adonis Georgiadis, will try in the next period to reverse the negative feeling he has caused.

He announced an MLA that will deal with the incentives given to doctors to serve in the barren areas.

They will receive the time 7,200 euros in addition to his salary, extra money on call, free housing from the Municipality and more.

Let’s see if the climate changes.

Absence of opposition

After all, the government is playing alone on this front as well. The opposition is going through its own anxieties.

We are waiting for a motion of censure against Stefanos Kasselakis from the MP of Chania, Pavlos Polakis.

I hope it does not divert the interest from the Prime Minister’s announcements at TIF.

The axes of Maximus

From the TIF, the Prime Minister will talk about a series of reforms and initiatives with the central goal of improving the daily life of citizens, according to his colleagues.

The health sector – and especially the health infrastructures – but also that of Civil Protection will be at the center of attention. So is Education.

At the same time, announcements will be made to deal with the housing crisis.

The relevant ministries are also working on measures to support the family in order to deal with the demographic problem, which is considered one of the most serious in the country.

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The agony of the AX

But aside from political developments, the market will be waiting for the tone of what was said at the Federal Reserve’s conference in Jackson Hole.

The Fed’s Powell endorsed the rate cut in September, while investors are betting on the ECB for two more cuts of 25% each this year – starting in September – giving a 60% chance of a third.

MSCI’s rebalancing

But domestically, the catalyst that will play out this week is the rebalancing on August 30 due to changes in the MSCI indices.

The interest will clearly be monopolized by the Motor Oil share, as it is transferred to the small cap, from the house’s standard Greece.

The changes will take effect from the meeting on 2 September, however until then there will be significant reshuffling of positions, with early estimates suggesting that the remaining nine of the relevant index will benefit.

Millennium “discovered” the short

This rebalancing caused Millennium International Management LP to open a 0.58% short position in Motor Oil.

It was a tactic that we had forgotten in the Greek market in recent months, as it is a general admission that the AX is in a bull market.

So the large short positions, i.e. more than 0.5% that are disclosed to the Capital Market Commission, were a bit out of place.

For the smaller ones, what is mentioned is based only on information.

Will he do the same in Viohalco?

Therefore, Millennium’s open position is of a purely opportunistic nature, unless it holds it even after the rebalancing.

It will be interesting to see if there will be a similar tactic with the rebalancing of the FTSE Russell.

Because the house announced that it is upgrading Cenergy’s stock to Large Cap, from the Mid Cap it was previously.

Cenergy took the place of Viohalco, which is being transferred to Mid Cap.

Intralot is also being upgraded

Intralot’s stock may have been “sitting” lately, but FTSE Russell has upgraded it to Mid Cap.

Interlife was added to the Micro Cap for the first time, while AustriaCard, AVAX, Dimand, ELASTRON, Lavipharm, Premia, Plastic Thrace managed to remain in the Micro Cap.

The changes will take effect after the close of the session on September 20, 2024, when turnover is expected to increase.