In the final line the real estate operator to protect the first residence

In the final line, the procedure for the creation of the acquisition and re-renting body, the private body that will be selected by the State after a public international, is introduced to buy the first resident debtor who is bankrupt, with the obligation to lease it to him for 12 years and thus avoid evictions. As estimated, over the next 3 – 4 years, 10,000 – 12,000 real estate auctions will take place annually, while 30,000 – 50,000 vulnerable homes will be potentially faced with the risk of auctioning. Today (5.9.2024) or at the latest tomorrow it is expected to publish ministerial decisions incorporating the final parameters on the basis of which the public international competition will take place and which arose following the completion of the competitive dialogue held by the General Secretariat for Private Debt Management with the investors concerned. Candidates, who will be invited to submit their binding offers to select the preferred investor, are funds Fortress, Bain, Christofferson (CRC) and Kaican Hellas in partnership with Beaumont. Binding offers are expected to be submitted in early October and their assessment is estimated to last about a month and a half. The ministerial decisions will specify all aspects of the operation of the Agency, from the monthly rent paid by the debtor, the possibility of repurchasing the property to the costs of legalising and maintaining the property. These were the burning issues discussed by investors with GGDIX, as the request originally made for an increase in state guarantees that would accompany the Agency, had been ruled out by the Ministry of Finance. Last December, however, by law ratified by the Parliament, the Ministry of Finance had passed changes – incentives for the participation of private investors (funds) in the establishment and operation of the Real Estate Agency, such as: 30% discount on the commercial value of the property or the first offer price for the acquisition of property by the Body at auction. The debtor will benefit from this discount when he wants to buy the property back. Simulation of the Body’s taxation with the favourable regime governing SNEs. In other words, exemption from any tax, special charge, stamp charge, levy, right or any other charge to the State and third parties, with the exception of income tax on capital gains arising from the contribution of real estate and transfer. Discharge of the Entity from the obligation to purchase the property if, after an expert has been checked, infringements are found which lead to a complete inability to legalise.