Real estate foreclosures for major debtors imminent

9 August 2016
731 Views

Armed with foreclosures and auctions, the General Secretariat of Public Revenue is hoping to collect some of the billions of euros owed by debtors with debts over 150,000 euros.

At present the GS has began documenting the real estate and other assets of these debtors, which may help improve public finances. A list of real estate assets that will be foreclosed and auctioned off has already been prepared.

This list of assets includes houses, apartments, offices, stores, warehouses and agricultural land. Although the Finance Ministry is hoping to recover some of the overdue debts through these auctions, the value of the assets to be seized is but a fraction of these nearly 90 billion euros worth of debts.

The case of a debtor with overdue debts worth 12.5 million euros has the following assets: a 64m² apartment in Thessaloniki with bids starting at 26,000 euros, another 47m² apartment with bids starting at 36.800 euros, a third 43m² apartment with 11m² parking space with bids starting at 34,000 and a fourth 60m² apartment with bids starting at 24,000 euros. In another case, of debts worth 5 million euros, the debtor has a 123m² apartment with a 12m² parking space, with bids starting at just 80,000 euros.

You may be interested

PM Mitsotakis cites Greek Constitution to back mandatory vaccinations
GREECE
shares15 views
GREECE
shares15 views

PM Mitsotakis cites Greek Constitution to back mandatory vaccinations

makis - Jul 23, 2021

Prime Minister Kyriakos Mitsotakis cited the Greek Constitution in response to those opposing mandatory Covid-19 vaccination during his meeting with…

Who Has Spent The Most Time In Space? (infographic)
WORLD
shares27 views
WORLD
shares27 views

Who Has Spent The Most Time In Space? (infographic)

Panos - Jul 22, 2021

As Russia celebrates 60 years since Yuri Gagain became the first person to orbit the Earth, the state of space travel looks…

What Do Americans Think Of Famous Billionaires? (infographic)
FINANCE
shares28 views
FINANCE
shares28 views

What Do Americans Think Of Famous Billionaires? (infographic)

Panos - Jul 22, 2021

Hot on the heels of fellow billionaire Richard Branson, Amazon founder Jeff Bezos is set to blast into space. He…

Leave a Comment

Your email address will not be published.