Thousands of properties without active heirs in Greece, long left idle, are set to be repurposed under a new legislative plan, boosting social housing policy and resolving longstanding bureaucratic deadlocks in public property management.
According to the Ministry of Economy and Development, the Independent Authority for Public Revenue (AADE), in collaboration with the Directorate of Public Benefit Properties, will link the Property Registry with data on orphaned inheritances. The dual objective is:
- Identify and clear properties that have reverted to the state but remain “frozen.”
- Repurpose them to provide housing for vulnerable families in urgent need.
Current Challenges
- Around 7,000 inheritance cases without heirs have been identified across Greece, many abandoned or unknown.
- Currently, identifying and clearing a property can take up to four years: two years for recognition and two years for the appointment of executors and completion.
- Of properties cleared, 98% are sold to settle debts, leaving the state with almost no usable real estate.
- Today, the ministry holds fewer than 100 “clean” properties originating from orphaned inheritances.
Key Features of the New Legislation
- Electronic Registry of Public Benefit Properties: Integrated with all other public registries for full transparency.
- Platform for Orphaned Inheritances: Accelerates identification and heir tracking.
- Custodian Foundation: A private-law legal entity, with a president approved by Parliament and management appointed by the Minister of Economy, responsible for clearing properties when heirs cannot be located.
The framework aims to reduce waiting times, cut bureaucratic delays, and turn currently abandoned properties into practical housing solutions for Greece’s most vulnerable citizens.
Economic and Social Impact
- Utilizing orphaned properties can relieve rental market pressures and strengthen social cohesion.
- The state prevents further degradation of public assets, transforming idle properties into tangible economic and social benefits.
- Transparency and electronic oversight reduce the risk of mismanagement and make the system sustainable for the long term.
With the implementation of this new law, Greece’s orphaned properties are no longer just bureaucratic dead weight. They become tools for social policy, expanding access to housing, unlocking economic resources, and turning public assets into real societal benefits.
Source: pagenews.gr