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Economy

The Protection of Primary Residences a Government Priority

ATHENS — The protection of primary residences is the primary goal of the new "second chance" law, whose provisions concern, inter alia, the cancellation of foreclosure auctions.

According to government officials, the ruling New Democracy (ND) party "from the first day of its governance, gave priority to the protection of primary residences."

The same official stated that "before July 7, 2019, in the two years 2017-2019, the SYRIZA government had conducted more than 25,000 auctions. In the absence of any controls, thousands of strategic defaulters had also qualified for the beneficial arrangements and had both high incomes and protection for all their property – and not just their first home."

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