A new wave of property auctions is being launched by Greece’s Independent Authority for Public Revenue (AADE), with 43 properties scheduled to go under the hammer between September and November.
The properties are located across several parts of Greece, including Attica, Mykonos, Drama, Thessaloniki, Chania and Halkidiki. The portfolio includes plots of land, agricultural properties, homes, storage facilities and industrial buildings.
While some of the properties carry starting prices of hundreds of thousands of euros, others will be offered at remarkably low opening bids, with several properties in Drama starting at just €1,000.
Properties valued from €1,000 to more than €1 million
The first auctions are scheduled to begin on September 16.
Among the properties included is a 183.60-square-meter plot in Neos Kosmos, Athens, at the junction of Lloyd George and Finley streets. The property includes a multi-story building and has a starting bid of approximately €1.247 million.
In Magoula, a 478-square-meter plot featuring a 167-square-meter two-story house and a parking space has a starting price of €433,000.
Mykonos is also included in the first round of auctions.
One property is a 4,400.40-square-meter agricultural plot in Vounakia, with an opening price of €370,000.
Other properties in the Livadi area of Ano Mera include plots measuring 2,873.98 square meters, with starting prices listed at €553,000 and €59,000.
An agricultural property measuring 5,852.98 square meters in Kalo Livadi is also included, with two auction listings carrying starting prices of €553,000 and €59,000.
The seven auctions scheduled for the first day have combined starting prices of approximately €3.274 million.
Six properties in Drama start at just €1,000
A further nine auctions are scheduled for September 17 in Drama.
The properties include agricultural plots measuring 10,533 and 3,758 square meters, with starting prices of €20,000 and €6,000 respectively.
A 513-square-meter plot has an opening price of just €4,000.
However, the lowest starting prices are attached to six properties, each listed from €1,000.
Among them are plots and agricultural land, including a 219-square-meter plot with an old two-story, 40-square-meter house, a 910-square-meter agricultural plot and a 183-square-meter plot containing a 72-square-meter storage building.
Auctions continue through November
The auction program continues throughout the autumn.
On October 14, a 225.42-square-meter plot with a multi-story building in Keratsini is scheduled for auction, with a starting price of €778,000.
On November 4, a 9,000-square-meter agricultural property in Kavallari, Lagadas is listed with a starting bid of €47,500.
Further auctions are scheduled for November 11, involving properties in Marousi, Agia Paraskevi and Chania. Starting prices range from €4,800 to €595,200.
The properties include plots with buildings, an apartment, underground storage areas and land in Galatas and Eastern Selino.
Another 14 agricultural properties are scheduled for November 18 in Komitsa, Ouranoupoli and Nea Gonia in Halkidiki.
Their sizes range from 1,690 to 125,113.55 square meters, while starting prices range from €15,000 to €365,000.
Debtors can still prevent an auction
The auctions form part of AADE’s broader efforts to collect overdue debts owed to the Greek state.
However, an auction can still be prevented if the debtor settles the outstanding amount or enters an active repayment arrangement before the auction takes place.
AADE can take enforcement measures against debts exceeding €500, although the auctioning of real estate is generally considered a more serious enforcement measure.
Before an auction proceeds, the property must normally be seized and the debtor must receive an individual notice concerning payment of the debt or default.
There are exceptions in certain circumstances, particularly where authorities consider that collection of the debt could become more difficult.
The debtor retains the possibility of stopping the process before the auction date by paying the outstanding debt or placing it under an active repayment arrangement.
A new 72-installment arrangement is also available for certain older debts dating back to the end of 2023. Applications are submitted electronically through the myAADE platform, with the deadline set for December 31, 2026.
Once approved, the arrangement is activated through payment of the first installment within three working days.
The new auction schedule highlights the growing range of properties being targeted by AADE, from high-value urban buildings and Mykonos land to agricultural plots with starting bids of only €1,000.
To bid http://auctions.aade.gr/kpi//public/auctions/prg_date_down/
