Greek state needs 20 years to evict illegal tenant

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The eviction of a tenant who illegally uses a government building can take up to 20 years due to the slow legal system of the country, depending on Stefanos Vlastos, Managing Director of Hellenic Public Properties Company (ETAD).

ETAD was appointed to manage and develop Greece’s real estate assets, but legal loopholes and a slow court system often allow individuals and businesses to take over and commercially operate these properties for decades.

Speaking at the Prodexpo conference in Athens yesterday, Vlastos said ETAD has made great strides in property development, however adding that changes need to be made to the court system to help speed up proceedings.

ETAD has some 77,000 state-owned properties in its portfolio. Of the total number, around 28,000 of them have been used illegally by tenants.

Despite controlling so many properties, ETAD praises its own promises in Athens from a private investor, admitted Vlastos, paying rent each month because none of the 77,000 assets are available or suited to host its operations.

Over the past decade or so, Greece has completed sweeping reforms in key sectors of the economy, mostly under pressure from international creditors, but the country’s judicial system has remained largely inefficient, weighing heavily on the country’s competitiveness levels.


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