Manos Konsolas Calls for Immediate Protection of Primary Residences to Prevent Evictions and Foreclosures
Dodecanese MP Manos Konsolas has called on the Minister of National Economy and Finance to accelerate the activation of the Property Acquisition and Leaseback Agency, aiming to protect primary residences and prevent evictions and property foreclosures affecting vulnerable borrowers.
In his parliamentary intervention, Konsolas requests a clear timetable for the completion of the agency’s establishment, stressing that many borrowers are currently facing the risk of losing their main homes because they are unable to meet their loan obligations.
The proposed mechanism, established under Law 4738/2020, would allow the agency to purchase a borrower’s primary residence and lease it back to them for at least 12 years. Borrowers would also retain the right to repurchase their property before the end of that period.
According to Konsolas, the agency’s operation would:
- prevent evictions and foreclosures,
- allow vulnerable borrowers to remain in their homes,
- provide affordable rent, with part of the payment subsidized by the State for eligible households based on income criteria.
The Dodecanese MP emphasized that completing the selection of the agency’s operator and launching its operation without further delay is essential to safeguarding primary residences and strengthening social protection for vulnerable citizens.
