In a press office statement responding to opposition criticism, Greece's Ministry of National Economy and Finance said the Property Acquisition and Leaseback Body and a forthcoming legislative initiative on primary residence protection through the Out-of-Court Mechanism together form the government's framework for vulnerable debtors. The ministry said the measures are intended to allow those who genuinely need support to remain in their homes and reach sustainable debt restructuring solutions. It said the body has taken time to establish because it combines social policy, banking operations, management of thousands of properties and private financing, and is being developed through a concession contract and competitive dialogue with multiple stages. The economic model also offered limited returns for investors, requiring repeated adjustments to make it viable and operational. Until the body is completed, the interim programme freezes auctions for vulnerable debtors and provides a state subsidy for debt repayment. The ministry said the new legislative initiative linked to the Out-of-Court Mechanism will be legislated soon.
Ministry of National Economy and Finance (Greece)2026-05-29
Greece's Ministry of National Economy and Finance defends property acquisition and leaseback body rollout and says new primary residence protections via the Out-of-Court Mechanism will be legislated soon
Greece’s Ministry of National Economy and Finance said the Property Acquisition and Leaseback Body and a forthcoming primary residence protection law via the Out-of-Court Mechanism form the framework for vulnerable debtors, aiming to keep eligible borrowers in their homes and support sustainable debt restructuring. It attributed delays in establishing the body to its complex mix of social policy, banking operations, large-scale property management and private financing, and noted that an interim programme freezes auctions for vulnerable debtors and provides a state subsidy for debt repayment.