A significant development in urban planning has been initiated in Greece with the launch of the pilot operation of the Digital Land Bank, which facilitates the Transfer of Building Factor (TBF). This mechanism is designed for property owners who are unable to fully utilize their building rights due to certain restrictions, such as historical preservation statuses or predefined communal areas. By transferring the building rights to another property, owners can effectively increase the allowed construction area on the receiving site beyond normal regulations.

The TBF system introduces a market-based approach to property rights, allowing the owners of affected properties, known as 'donor' properties, to receive transferable titles that represent the unbuilt square meters. Instead of receiving monetary compensation, owners get these titles which they can sell for construction use in other areas, termed 'receiver' properties. This system aims to optimize land use and promote thoughtful urban development while addressing the needs of property owners facing legal restrictions.

Currently, the pilot phase has begun with the registration of cases eligible for this transfer process. The initiative not only represents a step towards modernizing the legal framework surrounding property rights and construction in Greece but also signals an attempt to enhance the efficiency of urban development in response to new challenges in real estate markets and city planning.