More than 10,000 Homes Passed to the Greek State in 2016

Tuesday, March 14th, 2017
Last Update: 13:02

More than 10,500 real estate properties were passed to the Greek State in 2016 because of the inability of owners to pay their tax obligations, according to Kathimerini daily.

The report cites data from Alpha Residential Properties saying that in 2016, 10,500 homes were transferred to the state as seizures, voluntary transfers or disclaimers of inheritance. The reasons were mostly the inability to pay property and inheritance taxes or overall debts to the State. It is indicative that the number of homes that passed to the hands of the State is 73 percent higher than that of 2013 when 6,079 homes changed hands.

However, the Kathimerini report says, it is unknown what happens to these properties, as the government auction programs are very limited. For example, currently there is an auction program announced that refers to only 24 properties.

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