Banks are set to organise, in August and September,approximately 500 auctions for the sale of foreclosed houses, inthe wake of which they want to raise more than 20m euros, show ZFcalculations based on the starting price displayed in the adslending institutions publish on their own websites. There are othermillions of euros' worth of land plots and commercial andindustrial spaces that banks have recovered from clients unable topay their loan instalments any longer, and which they are trying tosell at present. The market value of houses and apartments banksare auctioning is however visibly higher, given that in most casesthe starting price is 25% lower than the initially set value, asign that the respective good is at least at its second auction.Banking executors say the number of potential buyers have risenlately, after ads on recovered goods have become more visible asthey were published on banks' websites, but that most foreclosedproperties are still sold after several auctions. The number offoreclosures has climbed rapidly in recent months, so that while atthe start of the year the number of ads on auctioned goods stood at200-300 per month, now the number of ads on houses alone currentlyexceeds 400, so that banks came to publish auctions scheduled inearly September as early as July.
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