Real Estate in Greece

We all are witnessing major changes; and of coursethese changes create new opportunitiesthanks to which we have become the masters of our own homes, and some of us, who understand the importance of the moment have become owners of several objects of property. History generously provides us with ONE MORE CHANCE!..

“When the crisis is raging in the streets, it's time to buy real estate!” J.P. Morgan

For more than sixty years real estate in Greece has been consistently the best for investment at the real estate market all over the Balkan Peninsula.

Being one of the oldest members of the European Community, Greece favorably differs from others with stable real estate investments throughout the Balkan Peninsula, clearly contrasting with unfortunate examples of its neighbors Montenegro, Slovenia and Bulgaria.

Greece is a full member of the European Union, a country with a strong democratic society. Protecting the rights of foreigners living here becomes the part of state policy as well as the right of every person of Greek origin to get his citizenship.

Sense of legal security certainly plays an important role in choosing Greece as a country not only for recreationbut also for the possibility of living hereas well as the mild climate, low crime rate, close mentality (it is faster and easier to adapt here than in many other countries abroad), an abundance of fruits and vegetables all year round.

Real Estate Prices in Greece Today

It was the crisis in 2008 that halted the growth of GDP and property prices in Greece. Between November 2008 and April 2013, property prices in Greece fell, not failed, just fell by 27.2%, which was not a crisis, but its consequence, it happened almost certainly due to a complete stop of issuing housing loans to individuals.

Today property prices in Greece are the same as they were twelve (!) years ago. New housing construction is suspended, and there are primary and the secondary housing in the number of approximately 300,000 as in Spain. Everything that is happening to Greece real estate is the result of a protracted credit crisis, reasons for which are not generated by the real estate market.

Greek real estate market is the third in Europe when speaking about its stable growth (the first one is the British market, the second one is French). Though, it has been declining for the last four years. But well-known international economists anticipate (as soon as banks return to old credit policy, according to a survey of the Greek real estate market condition of CB Greece) its stabilization in 2014 and summer of 2014will bring beginning of its recoverywhich by the end of 2015will begin confidently and pretty soon (at 40% -80% over the next ten years) to return to pre-crisis level of prices.

The main potential of the country is its STATUS,Greece has been and continues to be a European and international resort, possessing everything necessary from nature and attracting large foreign investment in real estate and business.

Foreign investors in this situation possess a wide choice and you just have to do it in the RIGHT WAY and ON TIME.

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