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  1. Newsletter 253 -05/06/2020

    Newsletters

    . Apartment prices rise by 6.9 pct in Q1 Headline figure marks ninth consecutive quarter of price rises... percent, respectively. The rise in the nominal value of apartments in Greece came to 6.9 percent... increases. The index for Q1 came to 66.9 compared to an index of 65.6 in Q4 2019. Old apartments

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  2. Greek union data suggest workers get paid late or in kind

    Society

    is up to 13 months. One in two hotel companies that operate for the whole year is said... or other products. In other cases, payment in kind may mean “free” hotel accommodation or daily meals

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  3. Greece moves closer to troika over fiscal gap, waits for response
    Photo by MacroPolis

    EconomyProgramme

    citing government sources indicate that the key measures relate to increasing the VAT rate on hotel... that the resulting higher cost for hotel services from the rise of VAT to 13 percent would lead to 2.6 million

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  4. Accommodation and food services index up 7.6 pct in Q3
    Photo by Harry van Versendaal

    EconomyMacroeconomy

    , the recent government proposal to double the hotel VAT rate to 13 percent, aligning... results. Responding to the ministry’s proposal, SETE underlined that the higher cost for hotel services

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  5. Greek travel receipts continued upward course in October, rising by 4.6 pct
    Photo by MacroPolis

    EconomyMacroeconomy

    fiscal gap of 2.5 billion - to double the hotel VAT rate to 13 percent, aligning... negative effects are only temporal. In contrast, SETE stressed that the higher cost for hotel services

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  6. Proposed VAT overhaul a stepping stone towards agreement with lenders?

    EconomyProgramme

    currently two main VAT rates at 13 and 23 percent and a lower rate of 6.5 percent for hotel... on hotel accommodation since prices would be set for an 8 percent increase. Smaller price increases

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  7. Greece close to agreement that would unlock sale of Astir Vouliagmenis

    Economy

    hotel (85.35 percent owned by NBG) and the Vouliagmeni marina (fully owned by Astir Palace) with the total size of the hotel complex at 120,000 square meters. Market sources indicate that NBG would

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  8. Greek tourism: Hopeful yet uncertain for 2016
    Photo by MacroPolis

    EconomyFeatures

    . The Lesvos Hoteliers’ Association reported in February that hotel bookings on the island were down... hike from 23 to 24 percent and a levy on overnight hotel stays. With the tourism season proper set

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  9. Alpha and NBG complete sales of hotels
    Photo by MacroPolis

    EconomyBanking

    Two of the four core Greek banks, Alpha and NBG, announced the completion of the sale of their hotel subsidiaries at the end of last week. Both transactions are part of the banks’ restructuring plans...) in the Athens Hilton hotel. Home Holdings was declared preferred bidder for the acquisition of the Hilton

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  10. Greek stocks drop 2.5 pct for second straight week, banks tumble 5.4 pct
    Photo by Panayiotis Tzamaros/Fosphotos

    Economy

    Alpha and NBG completed on October 27 the sale of their hotel subsidiaries. In specific, Alpha... Hilton hotel for a consideration of 142 million. NBG also completed the sale of its 67.26 percent

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