Auction theory

The large number of property auctions currently being planned will undermine the stability - or growth in certain cases - seen recently in the real estate market, sector experts warn.

Property auctions will rise to an annual rate of 40,000 as of 2019, according to the European Commission's compliance report, while the planning for this year provides for 10,000 foreclosures.

The distribution of the second tranche with the diet packages for socially disadvantaged people is delayed, BNT reported, referring to the Bulgarian Red Cross.

Online auctions related to overdue debts to the state will begin on May 1, according to an amendment tabled in Parliament on Friday that puts an end to conventional auctions from now on.

A multi-bill stretching to more than 400 pages was submitted to Parliament on Tuesday as the government seeks to tie up the third review, leaving just one more inspection by the institutions before the current bailout program ends in the summer.

A multi-bill stretching to more than 400 pages was submitted to Parliament on Tuesday as the government seeks to tie up the third review, leaving just one more inspection by the institutions before the current bailout program ends in the summer.

The state and the social security funds will begin online auctions of debtors' assets in March, while total debts to the state at the end of November exceeded 100 billion euros according to data published on Monday.

The cost to Greece as a result of the ambivalent stance maintained by the ruling leftist SYRIZA party with regard to the controversial issue of foreclosed property auctions could form the basis of a case study.

The Greek state is planning to launch its own online auctions - to be conducted according to properties' market value - with a legislative intervention that will bring the country in line with its commitments to international creditors.

There is growing international interest in the acquisition of properties in Greece via online auction and other sales that local banks are resorting to in a bid to reduce their losses from nonperforming loans.