Property Auctions in Greece Double in 2022, Compared to 2021

All types of residences, from apartments to condominiums to single-family dwellings, plots of land, warehouses and even parking lots have gone on the auction block in Greece over recent years, although an expected surge in the number of properties to be auctioned off in the coming period expected to significantly affect the local market.

Figures recently released by the country’s statistics authority, EL.STAT, are revealing, with auctions and seizures more than doubling in 2022, compared to 2021.

Specifically, court decisions related to foreclosures and auctions reached 5,760 in 2022, compared to 2,393 in 2021, an increase of more than 140 percent. Accordingly, foreclosure orders jumped by 141 percent to 14,939, compared to 6,199 in 2021.

On a more positive note, property transactions involving a notary public totaled 804,322 in 2022, compared to 727,610 in 2021, an increase of 10.5 percent. Such transactions went from 555,473 in 2013 to 804,322 in 2022, an increase of 44.8 percent.

Property transfer transactions in 2022 reached 112,283, compared to 104,746 in the previous year.