Western Greece: 1,044 properties with a total value of over 27 million euros are up for auction until autumn.

An electronic auction is set to begin operations in the region of Western Greece by next September, for the sale of 1,044 properties with a total starting value of over 27 million euros. According to the platform eauction.gr, half of the auctions, that is, 548, pertain to the area of Achaia next September, including 428 properties in the city of Patras, 50 in the city of Aigialeia, 65 in Western Achaia, 3 in the city of Erimanthos, and 4 in the city of Kalavryta.

It is also interesting to see how the auction objects are distributed based on their type. According to this distribution, in Western Greece, there are 446 auctions related to residential houses, 73 to shops, 70 to plots of land, 46 to parking spaces, 49 to agricultural plots with buildings, 18 to offices, 13 to manufacturing enterprises, and 4 to hotels.

The most expensive item at the first auction is the Liberty Hotel in the city of Messolonghi for 2,200,000 euros. In second place is the Douris textile factory in Patras for 1,666,000 euros, and in third place is the closed fabric and t-shirt manufacturing company Rannia, also in Patras, with a starting price of 1,388,938 euros, followed by the Anonymous Society of Patras Furniture Manufacturing, known as "SE.VI.P.A.E." with a price of 927,000 euros.

Among residential buildings, the most expensive property is located in the city of Amaliada in the Ilia region, priced at €302,400. Among shops, the most expensive property is the building of the patriarchal company "Stollas" on Heroes of the Polytechnic Institute Street, which is currently a supermarket, with a minimum price of €787,650.

The most expensive plot up for auction is located on the coast of the city of Patras and belongs to a fuel production company, with a starting price of €1,184,958. Regarding the year of construction, data analysis from iauction.gr shows that a quarter of residential buildings were constructed in the decade of 2000-2009.

According to reliable sources, until recently, most auctions were declared unsuccessful due to a lack of participants. For example, from the beginning of 2022 to the present, 127,000 auctions have been held across the country in various rounds (approximately 90,000 properties), with a total value of 14.8 billion euros.

Only 14.9% of them were successfully completed, while 44% remained unsold.

According to the platform's data, 35% of the upcoming auctions, which amounts to 3,660 properties worth 218 million euros, are located in Attica, while 14% (or 1,569 properties) will be auctioned electronically in Central Macedonia before September. Regions such as Western Greece, the Peloponnese, and Crete follow in terms of the number of properties for auction, with the South Aegean coming in last on this list, having only 136 auctions totaling 11.5 million euros.

Properties ranging from 70 to 100 square meters are recognized as "champions," followed by properties with areas of 40-70 sq.m, 100-150 sq.m, 20-40 sq.m, and 150-200 sq.m. Finally, the average cost (starting price) of a property is around 105,180 euros.