Greece’s Independent Authority for Public Revenue (AADE) is launching a new wave of property auctions targeting major tax debtors, with 43 properties set to go under the hammer from September 16 onward. Located across Attica, Mykonos, Drama, Thessaloniki, Chania, and Halkidiki, the properties carry starting bids ranging from just €1,000 to as high as €1.247 million. The auction list covers a wide spectrum of property types — from small storage units and agricultural plots to large land parcels with old residential buildings and full-scale industrial facilities.
The AADE is ramping up its auction activity as part of a broader effort to curb the steady rise of overdue tax debts, which have now reached a staggering €114.7 billion. The primary goal is to increase pressure on debtors, encouraging them to take advantage of existing settlement schemes — most notably the new emergency 72-installment arrangement, which covers old debts accumulated through the end of 2023. Applications for this scheme are submitted electronically through the myAADE platform and remain open until December 31, 2026. Activation requires payment of the first installment within three business days of submitting the application.
AADE: 43 properties from major tax debtors go to auction, with prices from €1,000 to €1.247 million
Here is a breakdown of the auction schedule as planned by AADE:
– September 16: In Neo Kosmos, a 183.60 sq.m. plot with a multi-story building at the corner of Lloyd George 26 and Finlay streets goes to auction with a starting bid of €1.247 million. In Magoula, a 478 sq.m. plot with a two-story, 167 sq.m. residence and parking space is listed at €433,000. In Mykonos, a 4,400.40 sq.m. field in Vounakia carries a starting price of €370,000, while two listings for a 2,873.98 sq.m. area in Livadi Ano Mera are priced at €553,000 and €59,000 respectively. Two additional listings for a 5,852.98 sq.m. agricultural plot in Kalo Livadi are also priced at €553,000 and €59,000.
– September 17: Nine properties in Drama, including agricultural plots of 10,533 sq.m. and 3,758 sq.m. with starting bids of €20,000 and €6,000, a 513 sq.m. plot at €4,000, and six properties priced at just €1,000 each — among them a 57 sq.m. plot, a 219 sq.m. plot with an old two-story house of 40 sq.m., a 910 sq.m. agricultural plot, a 183 sq.m. plot with a 72 sq.m. storage unit, and two agricultural plots of 1,357 sq.m. and 1,616 sq.m. in the Giftika area.
– October 14: A 225.42 sq.m. plot with a multi-story building in Keratsini, with an opening bid of €778,000.
– November 4: A 9,000 sq.m. agricultural plot in Kavalari Lagkada, listed at €47,500.
– November 11: Eleven properties in Maroussi, Agia Paraskevi, and Chania, with prices ranging from €4,800 to €595,200. These include plots with structures, an apartment, underground storage units, and land areas in Galatas and Anatoliko Selino.
– November 18: Fourteen agricultural parcels in Komitsa, Ouranoupoli, and Nea Gonia in Halkidiki, ranging in size from 1,690 sq.m. to 125,113.55 sq.m., with starting bids between €15,000 and €365,000.
It is worth noting that the tax authority may proceed with seizures and auctions of debtors’ real estate for amounts exceeding €500. However, debtors can cancel the auction if they fully repay or settle their debt before it takes place.
Seizure and auction proceedings do not apply to a debtor’s primary residence, provided its assessed value falls within the exemption thresholds set for first-home acquisition transfer tax purposes — €200,000 for single individuals, €250,000 for couples, and €275,000 for married persons with disabilities, with an additional €25,000 for each of the first two children and €30,000 for each subsequent child.
