As a result of the ongoing economic crisis, Greeks are finding themselves unable to afford to the cost of paying taxes on property inheritances and are being forced to disclaim them.
In addition, the increasing burden of taxation of all kinds, is leading many to give the State property in lieu of cash, to clear their debts to the State.
This has resulted in a significant increase in the number of properties being surrendered to the State, with figures for 2013 showing the total to have been 6,079, whilst in 2016, that total climbed to over 10,500, which relates to a 73% increase.
A report from Alpha Residential Properties said that the transfers were a result of seizures by the State, but were largely from voluntary transfers or disclaimers of inheritance.
These properties, which are a combination of land, residential and commercial properties, will be auctioned by the State, who are developing an online auction facility, to avoid the protests by groups and consumer protection organisations and difficulties they have encountered up until now, for example, with strike action by notaries, on a nationwide scale.