180,000 homes in Greece in unwanted basket

Property, Greece

Between 150,000 to 180,000 unsold properties in Greece are in the unwanted basket due to plummeting demand, according to market experts, reports daily newspaper Kathimerini.

Most of these homes are expected to remain unsold even if the economy improves and the market picks up as buyers are seen bidding for newer homes, the paper adds.

This stockpile of unwanted homes is growing as the number of properties being confiscated by the Greek state for debts is growing and a large number of people receiving real estate from inheritance are rejecting the assets due to the high taxes involved.