ECONOMY

Residential property auctions to relaunch from June

residential-property-auctions-to-relaunch-from-june

Property auctions can resume in full as of June 1, according to a Justice Ministry bill scheduled to be tabled in Parliament in the next few days, unless the course of the pandemic dictates otherwise.

The plan provides for debtors who have objectively suffered as a result of the pandemic to have their main residence protected until May 31, not only from auction but also from all forced measures (such as freezing bank accounts), as long as they declare it to the Special Secretariat for Private Debt Management in order to secure a suspension.

The relaunch of auctions from June has been agreed with the country’s creditors.