The Greece financial crisis has been a negative incident for Greek locals but has opened doors internationally as wealthy Russians and other international real estate buyers have doubled purchases since last year.
According to Bloomberg, Euclid Tsakalotos has announced that Greece is absolutely having trouble keeping their financial market to bay. In one interview, one Greek realtor reveals how life for them has been since the Greek debt crisis occurred.
According to him, the real estate market has been dead for the past 15 days. He said that although the demand for Greek properties have been rising, their profits have been going below the belt.
Since the said crisis, the properties have bogged down even below its supposed value. Because of this, realtors have many clients but amidst the increasing number of buyers, they are earning less and less because of the price cuts that they have to acquire to be able to sell them as fast as they could.
According to News Week, Greek citizens, Eurozone leaders and, as mentioned, even the Greek realtors are at a downfall in the financial aspect of things. Since the financial crisis though, many countries outside of Greece has found this as an opportunity to acquire more properties at a lower rate than usual.
Numerous luxury Greek villas are being sought after by wealthy Russians since last year. According to the said report, in 2015, the sales have doubled and the Russian businesses already have a strong hold on many regions in Greece including that of Cyprus, wherein 10% of the nation's economy lie.
Values of these properties have come own wherein Greek island of Syros cost around €1.6 million a few years back but is now at a super down value to 800,000. Because of this, several high-end Greek properties have been sold at a double pace since last year, including that of the suburbs in Athens, the region of Halkidiki, and that of the island of Crete.
Do you think that the Greek financial crisis is a big opportunity to now buy properties there? Do you think that it would be absolutely glorious to own an island or a luxury villa in Greece? Now might be the best time to acquire one!
