The unlikely estate agents

Banks have entered the market for selling or even renting real estate, disposing of real estate they already own. This disposal is done through websites they have created and on which they upload privately owned properties acquired through auctions, or display properties that are going to be auctioned at the initiative of the bank.

According to the data hosted on the platforms of National, Eurobank and Alpha banks, more than 3,700 properties throughout Greece are currently available for sale, while the list of properties that are promoted for sale through auctions or by the banks or the management companies is long.

In addition to real estate sales, the sale of real estate for rent is also of interest, as promoted by Alpha Bank and Eurobank, in contrast to National Bank and Piraeus Bank, which currently focus on sales.

The websites that the banks have created are: realestateonline.gr by National Bank; findyourproperty.gr by Eurobank; astikaakinita.gr and propertynow.gr by Alpha; and properties4sale.gr by Piraeus.

In addition to the platforms that are purely owned by banks, a significant number of properties are available through the websites developed by the funds that have bought bad loans. Among them are realestate.intrum.gr, developed by Intrum, and altamiraproperties.gr developed by doValue, through which both the properties that have come into their ownership through auctions are available and those that are scheduled to be auctioned by the management companies through the online platform eauction.gr. That’s about 9,600 properties scheduled to be available through the website by early next year.

Aggregated information on all properties that are auctioned by all bidders can be found on the website landea.gr. The information provided by the service includes the auction documents in the form of simple advertisements, photos etc in order to facilitate the information of those interested in searching for real estate. Among the services it offers are searches based on the criteria (property type, area, floor, square meterage, starting price etc) desired by the interested party and daily updates on properties that come up for auction.