Greek Finance Minister Pierrakas proposes pre‑auction sale option for seized homes

A new regulation aimed at private‑debtors in Greece would allow owners whose properties have been seized by tax authorities to sell the assets before a forced auction. The draft, to be signed by AADE chief George Pitsilis after a request from Finance Minister Kyriakos Pierrakas, would prioritize repayment of overdue public taxes from the sale proceeds, with any surplus returned to the seller. The measure is part of a broader package targeting the country’s €400 billion private‑debt stock, which also includes raising the non‑seizable income threshold to €1,600, permitting repayment in up to 72 instalments and revising interest calculations for loans under the “Katseli” law. Officials say the change could provide relief to thousands of debtors, letting them avoid full loss of property value through forced execution and potentially secure better sale prices.