The Minister of the Environment Yannis Maniatis was invited on Mega Channel’s morning chat show to comment on the troika-mandated compulsory insurance of all real estate.
The Minister claimed that “we will try for the charge to be the least possible”, conceding that the imposition of such a measure “is the direction we need to take”, without however elaborating on the nature of the charges.
The troika representatives have suggested the creation of a fund that will insure real estate up to a certain value and give private insurance firms the opportunity to cover the insurance f higher value property, which in practice will reflect the actual value.
At present only abut 15% of real estate is insured and the div would be lower, if it had not been for the abundance of housing loans (which require that real estate is insured) granted in the past decade.
The subject will be discussed again during the scheduled troika evaluation of the Greek economy in September.
