Greek banks are increasing their efforts to combat the phenomenon of strategic defaulters, proceeding with the auction of all properties whose owners will not cooperate with lenders as regards the settlement of their debts. Banks are also trying to make residential property auctions more attractive to investors.
Banks are planning to conduct at least 25,000 real estate auctions on the e-auction online platform (www.eauction.gr) in the next few months. The list includes a multitude of apartments valued at up to 100,000 euros and whose owners have been invited to reach a settlement but have not responded.
In an effort to make the most of the improving climate and heightened demand in the property market, lenders are also enhancing the connectivity of the e-auction site with their own platforms, through which they provide additional information about and photographs of the properties for sale to candidate buyers to boost market interest.
In this context National Bank has already created the RealEstateOnline platform, which includes the assets the bank will put up for auction on the e-auction website. Eurobank and Piraeus Bank also have their own property sale platforms, FindYourProperty and Properties4Sale, respectively.