Tax revenue on property transfers grew 40.8 pct in the January-July period this year, compared with the same period in 2017, totaling 204.63 million euros, official figures showed on Thursday.

The Public Revenue Independent Authority (AADE) in a report said that tax revenue on property transfers was 145.3 million euros in the same period in 2017. In July, tax revenue on property transfers jumped 50.5 pct to 24.59 million euros, from 16.33 million last year.

AADE said that this surge in property transfer activity was linked with the introduction of new official property prices from January 1, 2019.