Online auction

A wave of foreclosures is set to begin in early September, immediately after the August break. Notably, more than 11,000 electronic auctions of various categories are scheduled from this restart through the early months of 2025. The majority will involve real estate, ranging from houses, plots, and offices to industrial spaces, factories, hotels, and even helicopter hangars.

MyCoast, a mobile app launched by the government in late April to combat beach violations, has registered 1,900 complaints so far, according to the latest data.

The platform allows users to file complaints about tourist establishments that exceed their allotted space for umbrella seating on the beach or engage in unauthorized occupation without the required concession agreement.

The Trade Ministry has put three pairs of Michael Jordan autographed sneakers up for sale, priced at 5 million Turkish Liras ($153,783).

The items, boasting the signature of the former NBA superstar, were abandoned at customs due to incomplete procedures aligning with existing legislation.

Over 10,000 homes could have been put up for sale at reasonable prices through the online auction system, helping to alleviate the country's homelessness problem.

Fans of Prince, who was known nearly as much for his extravagant wardrobe as for his chart-topping hits, will have a chance to bid on some of the late musician's sartorial splendor in an online auction this week.

Property auctions by banks slowed down considerably in March, amid the government's negotiations with the country's creditors over the protection of borrowers' primary residences, while the same trend appears to have continued into April, ahead of the activation of the new platform for that purpose.

The upcoming local, regional, European and national parliamentary elections, all in the next few months, are set to put the brakes on online auctions and efforts to identify strategic defaulters, raising concerns among bank officials.

The state is planning to auction 31 properties between October 17 and December 19, and according to sources this figure may grow considerably, as besides the increase in bank account confiscations and asset freezes, the Independent Authority for Public Revenue is increasing the pace of online auctions too.

Bidding opens on Monday for licenses commercial activities like refreshment stands and umbrella rentals at dozens of Greece's beaches.

The Finance Ministry hopes for a bigger turnout compared to last year, when the scheme was first launched and pertained to licenses for 61 beaches. According to data, closing prices last year were 50.3 percent higher than starting prices.

April 27 will see the first online auction of a property over debts to the tax authorities, following the successful implementation of electronic foreclosures to recover debts to banks and individuals.