Seizures more than doubled between 2021 and 2022, rising from 6,199 to 14,939, with similar levels recorded in 2023. Real estate auctions also saw a significant increase, reaching 7,291 in 2023 compared to 2,393 in 2021. Over a longer timeframe, the numbers highlight an even more striking trend: seizures have risen by 135.6% and auctions by 200.3% since 2014.

Sharp increases in property transactions and auctions

The report, based on ELSTAT’s annual survey completed in collaboration with the country’s notary associations, provides a detailed overview of notarial activities across Greece. In 2023, the total number of active notaries was 2,654.

The following categories experienced the most significant increases between 2022 and 2023:

  • Real estate purchases and sales: 122,123 transactions (up from 112,283 in 2022)
  • Auctions: 7,291 transactions (up from 5,760 in 2022)
  • Loans: 653 transactions (up from 485 in 2022)

Real estate auctions rose by 171% over a three-year period, from 2,683 in 2020 to 7,291 in 2023. This represents a recovery from the pandemic-induced dip in 2020 when auctions dropped from 4,829 in 2019 to 2,683.

Concentration in Athens and Thessaloniki

The majority of seizures and auctions took place in Athens and Thessaloniki. In 2023, Athens recorded 4,046 seizures and 2,256 auctions, while Thessaloniki accounted for 1,849 auctions. In total, 32% of seized properties were located in the capital, with the remaining 68% spread across other regions of Greece.

Long-term trends underline significant increases

The long-term trends underline the scale of the recent surge in property seizures and auctions. Between 2014 and 2023, seizures increased by 136%, while auctions more than tripled, climbing by 200%.

Key notarial activities in 2023

In addition to the rise in seizures and auctions, ELSTAT’s data highlighted the most common notarial acts in 2023:

  • Powers of attorney: 207,848 acts
  • Real estate purchases and sales: 122,123 acts
  • Wills: 33,124 acts

The real estate transactions category includes contracts that may cover multiple properties or shared ownership stakes.

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