Greek tax authorities intend to compensate for arrears by putting on auction 1500 villas of defaulters. They are located in the popular tourist areas - Rhodes, Mykonos, Paros, Santorini etc, writes ee24.com citing balkaneu.com.
Officials of the Ministry of Finance explain that they have no means to influence Greek and foreign debtors, but if is possible to hide money or transfer them abroad, villas still remain in the country. Ministry of Finance suggests that the offer for sale of luxury villas in Greece will be interesting to wealthy buyers from Russia, China, the US and Arab countries, because unlike property on the mainstream market they are always highly-prized.
A positive aspect is that the government has decided to start from the owners of luxury housing, rather than from the poor defaulters, who can not pay taxes because of financial distress.