33% of Greek properties used illegally

State-owned real estate worth billions of euros is being used fraudulently by people or companies without any real rights to do so, Kathimerini daily said today. A report by the Hellenic Commission for the Privatization of State Property (TAIPED), which was created by the former Socialist government of Giorgos Papandreu, revealed that out of a total of 80,714 state-owned buildings, 28,264 have been settled illegally. Of these, 3,152 have been assessed and could bring 10 billion euros into state coffers if repossessed, Andreas Taprantzis, who sits on the TAIPED executive council, told attendees at the Economist conference. The total number of soon-to-be recovered properties is 4,862, and these could bring in investments of 18 billion euros if converted to vacation homes, Taprantzis said. Another 13,600 state-owned properties are being evaluated, while 51,794 properties totaling 1,400 square kilometers have been crossed off the potential state repo list for now. And there is yet another group of 10,457 state-owned properties, which are listed as \'\'special,\'\' and which include 572 islands and islets. It will take another 18 months to free up these potentially profitable areas, Taprantzis said. (ANSAMed).