I think the answer to your first question is "if you put it up at public auction tomorrow, that would be totally illegal."

There are huge legal barriers to property sales, including requirements for energy audits and certification that the construction is wholly legal - which is probably isn't. Just like in the US, a great many safe and livable Greek properties violate zoning laws. Real assets are salable, but in this case the government has crippled the market's ability to clear.

All of which just reinforces your last point; the existing legal structure pretty much guarantees perpetual economic crisis.