12 municipalities in the nation that have advanced to the next stage of review by private appraisers from the Ministry of Finance claim a decrease in the objective prices of real estate. These are municipalities from all over the country that have submitted objections to the relevant committee of the Ministry of Finance on the grounds that the objective prices of real estate in their areas are higher than commercial prices, asking for their reduction.

These municipalities are: Ag. Anargyron, Kamaterou, Vrilissia, Halandriou, Glyfada, Piraeus, Ithaca, Karpathos, Loutraki, Symi, Pyrgos, Rhodes, and Astypalaia. 169 municipalities across the nation, including the Municipality of Athens, had submitted objections for a reduction in the objective prices, but only those for 12 municipalities received approval.

By the end of June, the ministry's assessors should have finished the review's second phase, at which point Finance Minister Kostis Hatzidakis will make the final decisions. Regardless of these decisions, the Finance Ministry clarifies that they will not apply retroactively. That is, in municipalities in which a "haircut" of objective prices will be decided, this year's housing tax bill will not be affected.

The reason why the competent committee of assessors of the Ministry of Finance rejected the majority of the municipalities' objections is the significant increase, in recent months, of commercial prices in the real estate market. The rally in prices overwhelmed the difference—where it existed—between the objective and commercial prices, resulting in the rejection of the municipalities' objections that called for a revaluation and a reduction in the former.