De­cline in auc­tions of properties

Kathimerini English - - Front Page - BY EVGENIA TZORTZI

The first four months of the year saw 8,220 prop­erty auc­tions worth a to­tal of 2.5 bil­lion eu­ros, ac­cord­ing to data from the coun­try’s courts.

Th­ese are auc­tions con­ducted mostly by the state that has re­pos­sessed houses and other properties over un­paid debts, as well as auc­tions for debts be­tween pri­vate par­ties, given that the law for­bids banks from auc­tion­ing houses used as a main domi­cile and worth up to 200,000 eu­ros. This reg­u­la­tion has con­tained the phe­nom­e­non of mas­sive house auc­tions by banks for mort­gage loans.

In 2012 auc­tions num­bered 26,000, down from 44,000 in 2011 and from 52,000 in 2009.

Govern­ment coali­tion part­ners PA­SOK and Demo­cratic Left have tabled pro­pos­als for the ex­ten­sion of the pro­tec­tion for home­own­ers be­yond 2013, but De­vel­op­ment Min­is­ter Costis Hatzi­dakis dis­missed any such talk for now, say­ing yes­ter­day in Par­lia­ment that the is­sue will be ad­dressed again at the end of this year.

Con­sumer groups EKPOIZO and INKA, mean­while, called in a press con­fer­ence yes­ter­day for an ex­ten­sion to be given to peo­ple ful­fill the terms for pro­tected sta­tus.

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