Greece launches forced home auctions for unpaid taxes

Greece to launch forced home auctions on Friday

Greece will be launching forced property auctions for debts owed to the state on Friday.

This comes as the amount of unpaid taxes owed by Greeks to the state has shot up to more than 100 billion euros amidst the country's nine year austerity drive demanded by international creditors.

Greek government officials say that none of the property going under the hammer will be the primary residence of those whose assets are being confiscated by authorities.

Friday's auction relates to debts owed to the state in excess of one billion euros, with the starting prices commenncing from 96,000 euros, according to some industry sources.

Thirteen real estate assets are being sold on Friday, including a 151 square metre apartment in Aghia Paraskevi (starting price: 187.091 euros).

Other properties on the list include a 113.49 square meter block of land in Psyri, central Athens, (starting price: 210,000 euros) and a 130 square metre apartment in Vari, south east Athens, with three car parking spaces (starting price: 246,000 euros).

Greece is aiming to complete the sale of 17,000 auctions in 2018 in a target many in the sector expected to be unattainable.