Banks are set to organise, in August and September, approximately 500 auctions for the sale of foreclosed houses, in the wake of which they want to raise more than 20m euros, show ZF calculations based on the starting price displayed in the ads lending institutions publish on their own websites. There are other millions of euros' worth of land plots and commercial and industrial spaces that banks have recovered from clients unable to pay their loan instalments any longer, and which they are trying to sell at present. The market value of houses and apartments banks are auctioning is however visibly higher, given that in most cases the starting price is 25% lower than the initially set value, a sign that the respective good is at least at its second auction. Banking executors say the number of potential buyers have risen lately, after ads on recovered goods have become more visible as they were published on banks' websites, but that most foreclosed properties are still sold after several auctions. The number of foreclosures has climbed rapidly in recent months, so that while at the start of the year the number of ads on auctioned goods stood at 200-300 per month, now the number of ads on houses alone currently exceeds 400, so that banks came to publish auctions scheduled in early September as early as July.

Banks are set to organise, in August and September, approximately 500 auctions for the sale of foreclosed houses, in the wake of which they want to raise more than 20m euros, show ZF calculations based on the starting price displayed in the ads lending institutions publish on their own websites. There are other millions of euros' worth of land plots and commercial and industrial spaces that banks have recovered from clients unable to pay their loan instalments any longer, and which they are trying to sell at present. The market value of houses and ap