The platform for electronic auctions of seized properties is expected to be extremely busy today, as 200 properties are going on the block, mainly for debts to banks.

Every day the platform posts houses, building plots, offices, agricultural land, factories and hotels that are up for auction. Up until this morning, the www. eauction.gr platform has posted 2,272 auctions that will take place between now and 10 October.

For all of March, 886 auctions have been listed, whereas a week earlier, as Ta Nea had reported, that number was 639.

There are now more than 300 notaries who have registered to carry out auctions on the Athens-Piraeus Notaries Association platform, which provincial notaries have also joined.

For the time being, there is one auction per week, every Wednesday. As of March, there will be three auctions a week, with two shifts.

An estimated 10,000 properties are lined up to be auctioned off within 2018, and banks have agreed to the targets agreed to by the government and the European Stability Mechanism (ESM).

Creditors are keen on retaining a normal flow of auctions each month in all the provinces, so as to restore normalcy to the process nationwide.

To avoid disruption by protests or otherwise, the law allows banks or individuals that have requested the auction of provincial properties, so as to receive the money from bad loans, to select a notary from Athens.

Banks believe that when the auctions process is in full swing, many debtors will hasten to pay off their loans, if they are able, so as not to lose their properties.

Delays in carrying out the auctions were the main reason that the last Eurogroup postponed disbursal of a 5.7 billion loan tranche to Greece

in.gr

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