
29 Jan Who benefits from ENFIA reduction for property owners
As of December 5, 2024, a new regulation has come into effect regarding the Unified Property Tax (ENFIA) for property owners who insure their real estate against natural disasters such as earthquakes, fires, and floods.
What Does the Regulation Provide
For 2024, residential properties owned by individuals and insured against natural disasters will receive a 10% reduction in ENFIA. However, starting from 2025, the discount will increase to 20% for properties with a taxable value of up to €500,000. For properties exceeding this value, the reduction will remain at 10%.
What Are the Requirements
The property must have been insured for at least three months in the previous year.
The insurance must cover the full reconstruction value of the property, excluding the land value. The minimum coverage amount is set at €1,000 per square meter.
If the insurance duration is less than one year, the discount is adjusted proportionally.