Another 5,000 houses for sale

On the contented of objections, REOCOs are requesting that a proviso beryllium made that the tribunal determination beryllium issued nary aboriginal than 1 year from the day of its filing and that the Justice Ministry accelerates the instauration of a level for expediting decisions connected objections.

The existent property colony process is progressing astatine an intensive gait connected the portion of banks and the companies that negociate existent property connected behalf of funds, with the purpose of bringing astir 5,000 residential properties backmost to the marketplace by 2026.

Although the fig is acold from the lodging shortage successful the marketplace and which, according to a study by Piraeus Bank, is estimated astatine 180,000, banks and companies are accelerating the effort to dispose of arsenic galore properties arsenic they tin successful view of the measurement that from the opening of 2026 imposes a doubling of ENFIA tax for properties they ain which stay closed.

In total, the fig of residences that banks person successful their portfolios amounts to astir 8,300, while different 7,000 residential properties beryllium to funds done the existent property owned companies (REOCOs) that they person established. These are properties that person travel into their ownership done auctions and are meant to beryllium enactment up for sale, but not earlier the colony of their pending municipality readying issues.

Speaking astatine the caller Prodexpo conference, the CEO of servicer doValue Greece, Tasos Panousis, identified the occupation of delays successful the faster merchandise of the properties owned by REOCOs to the marketplace successful the precocious percent of objections filed against the auctions (which has led to the postponement of their hearings until 2033, so that these properties cannot beryllium enactment connected the market), and successful the clip required for the maturation of these properties, that is, the correction of the technical and ineligible irregularities of the property, which adjacent exceeds 18 months.

On the contented of objections, the companies are requesting that a proviso beryllium made that the tribunal determination beryllium issued nary aboriginal than 1 year from the day of its filing and that the Justice Ministry accelerates the instauration of a level for expediting decisions connected objections.

The main petition is the work for the technical maturity of properties to beryllium undertaken by the caller proprietor – i.e. the purchaser of the property, not the seller – and that the procedures astatine the Cadastre and municipality readying beryllium accelerated.