Dr. Antonis Alexandridis’ research published in the Journal of the Operational Research Society has been adapted by the Greek government and the Greek Ministry of Finance.
The Greek Ministry of Finance will use the Automatic Mass Valuation System developed by Dr. Antonis Alexandridis together with Dimitrios Karlis (Athens University of Economics and Business), Dimtrios Papastamos (Eurobank Property Serivices S.A.) and Dimitros Andritsos (Eurobank Property Serivices S.A.) in order to redefine the fair market value of the properties in Greece.
This is one of the most important projects of the Ministry of Finance and one of the necessary reforms that was set from Troika to the Greek government. In the first stage the AVMS was tested in 824 zones in Greece in order to define an objective value of the real estate properties. In the second stage, the AVMS will be applied in the remaining (over 10,000) zones. The aim of the Greek government is to redefine the fair values of real estate properties in order to set more accurate property taxes.