The transfer of building rights, in terms of transferring the equivalent commercial value, from one property to another, is permitted under certain circumstances in Greece. Properties from which you can receive transferable building rights include those which are defined as listed buildings, properties with buildings which have been characterized as monuments archaeological sites, or those defined as cultural heritage sites, or as common use areas etc.  BVIC currently owns, 16,425 sqm of such transferable building coefficient rights. 

The areas which are permitted to receive the right of use of the fixed space transfer, referred to as the ‘Zones of Acceptance’, are required to be either street planned properties or outside of historically designated borders, archaeological areas; traditional settlements etc.

The law permitting the transfer has not been enacted yet, it was submitted by the Ministry of Environment, Town Planning and Public Works, to the Council of State. The Council of State reviewed it, and returned it to the Ministry of Environment, Town Planning and Public Works in order for them to correct it. 

The Group expects that within 2006, following minor changes and the necessary ministerial decisions, the Law will be enacted. Therefore, the Group has already planned the allocation of transferable building coefficient rights, in terms of the value of the fixed floor space, onto existing buildings or land plots adjacent to existing buildings. The total pipeline from the allocated transferable building coefficient is for 22105 sqm.