BUSINESS

Property auction limit may be lifted

EVGENIA TZORTZI

TAGS: Economy

The country’s notaries are considering raising the debt threshold for property auctions with the aim of activating the measure which has more or less remained frozen for about 10 months due to the extended abstention of the sector’s professionals.

The proposal to that end, according to the president of the Coordinating Committee of Notaries, Giorgos Rouskas, will be discussed next week so that it can be applied with immediate effect.

To date auctions have been allowed for debts of at least 300,000 euros, a limit that started from 400,000 euros in late April.

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