Piraeus Bank sells 49 real estate assets for 3.8 mln euros

More than 460 individuals and legal entities expressed interest in the fourth open e-auction of real estate properties organised by Piraeus Bank Group.

In an announcement, Piraeus Bank said the e-auction was held March 20-21 and covered 49 real estate assets. Bids submitted totaled 274 with the bank approving the sale of 33 assets at a price of 3.8 million euros. Foreign bidders came from China, Germany, Canada, Serbia and the UK.

George Kormas, CEO in Piraeus Real Estate, said: “The stable success of all auctions confirmed the choices of Piraeus Bank to exploit the portfolio of its real estate property. The e-auction offers multiple benefits to the domestic market contributing in market transparency and setting competitive prices. The bank also benefits from the liberalisation of liquidity which could be channeled to the economy.”