Over the next two years, Greece is expected to see a wave of residential properties entering the market, with approximately 30,000 homes projected to be released by 2027. These properties are being made available by banks and loan servicing companies, known as servicers, which have acquired them mainly through foreclosure processes. Currently undergoing legal and technical clearance, the properties are being prepared for smooth, unencumbered sales.
This growing inventory comes from several key players in the Greek financial sector. Intrum Hellas, through its subsidiary REOc, manages around 11,000 properties, including 5,000 homes. It plans to sell 2,500 of these by the end of 2025, with a total estimated value of €350 million, and expects to release the remaining stock by 2027. Other servicers are also ramping up efforts: Cepal intends to bring 1,500 to 2,000 homes to market by 2026, while doValue Greece has scheduled the release of about 800 properties within the same period.
Sales are being driven primarily through digital platforms and partnerships with real estate agencies and listing websites, such as Spitogatos and Xrisi Efkeria, which are widely used in Greece. Intrum uses its own platform, realestate.intrum.gr, in cooperation with the proptech company Prosperty. doValue lists its assets on Altamira.gr, and Cepal uses ReInvest.gr. These properties are generally priced below the market average, as they were acquired at discounted rates and are being pushed to the market quickly in order to reduce ongoing costs related to maintenance and taxation.
Greek banks are also playing a major role in this effort. Piraeus Bank, which owns around 10,000 properties with a total value of €3.6 billion—including 4,000 homes—has set a target to sell assets worth €400 million by the end of the year. The bank is leveraging digital platforms such as piraeusrealty.gr, and also collaborates with realestate.intrum.gr and ReInvest.gr to expand its reach. All properties are fully vetted for legal and technical readiness before being listed for sale.
National Bank of Greece (NBG) is following a similar path. In partnership with Qquant, it has developed the Uniko platform, which currently lists 1,400 properties. That number is expected to rise to 3,000 by the end of 2025. NBG also operates realestateonline.gr, offering a wide array of property types, all supported by technical and legal assistance to ensure smooth transactions.
Eurobank is marketing its portfolio through theprosperty.com, a digital platform in which the bank holds a 25% stake. It currently lists 800 properties and plans to double that figure by the end of the year. The bank also uses findyourproperty.gr for broader portfolio promotion. A portion of its properties qualify for the government’s affordable housing initiative, “Spiti mou II.”
Alpha Bank is utilizing the platform propertynow.gr, where it currently lists 650 ready-for-sale properties. The bank also offers mortgage financing alongside property sales to streamline the buying process and accelerate the time between application and loan disbursement.
