iauction.gr: Auction series in the next six months worth over EUR 1 billion

Since the beginning of 2022 and until now, there have been 127 000 in different rounds (about 90,000 properties), worth 14.8 billion euros. Of these auctions only 14.9% there was a bidder (so new owner), while 44% of the auctions did not participate in the process, according to information given by the platform iauction.gr. Regarding the upcoming auctions, according to official surveys published by iauction.gr, 10,675 auctions have already been announced only in the next six months, i.e. by September 2024, of a total value of more than EUR 1 billion. Taking into account the data collected by September 2024, most of the auction areas were mapped out and their distribution analysis based on their basic characteristics. 35% of the upcoming auctions (3,660 real estate, 216m euros) concern properties in Attica, while 14% concern auctions in Central Macedonia (1,569 real estate). Regions such as Western Greece, Peloponnese and Crete follow a number of properties for auction. Of the properties in Attica, the lion’s portion in number of auctions has the center of Athens (Demos Athens) with 3,660 properties. 17.3% of the properties are located in the Municipality of Athens, while immediately thereafter the Municipality of Piraeus, where 8.9% of the total properties of Attica are concentrated. An interesting element is the distribution of real estate for auction on the basis of their type. According to this distribution, 43.9% of the properties relate to dwellings, while 13.7% relate to building plots, as shown in the diagram below. Furthermore, as regards the year of construction, 1 out of 4 dwellings belong to construction dating back to the 2000s-2009s. This decade corresponds to the period when most housing loans were granted to our country. The distribution of the floor most of the properties is interesting. Specifically, 31.96% is located on the 1st floor while 17.22% on the ground floor. As far as higher floors are concerned, the lowest percentages are shown. The average value (start price) of property is approximately EUR 105,180 and their total value is EUR 1,060,947,973. SOURCE: RES-BE