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Real estate market stagnation to be further affected by foreclosures and home auctions
Huge questions are raised as to the consequences that new measures concerning non-performing loans (NPLs) or so-called “red loans” will have on Greece’s real estate market that has been in a slump for the last seven years with over 250,000 vacant properties for sale. Real estate professionals still don’t know how much lower prices will fall as a result of foreclosures and auctions.