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Posts Tagged ‘Greek Real Estate’

Prices Slashed as Reality Dawns on Greek Property Market

by Overseas Property Mall on Monday, September 6th, 2010 in Greece Property

corfu-island-greece

According to reports, prices of luxury properties on the Greek islands are being slashed by up to 45%, as owners look for quick sales to avoid paying the higher taxes of the government’s new austerity measures.

Property publication Property Wire brought to light a half built villa on Mykonos being offered by Athens broker Ploumis Sotiropoulos at the €500,000 reduced price of €2 million, a reduction, and a three bedroom property on Corfu down from €1.4 million to €750,000.

‘It’s a scary place to invest right now. Things aren’t going to improve until the economic picture becomes clearer,’ said Mike Braunholtz, a broker at Prestige Property Group which markets properties on the Greek islands.

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Will Foreigners Buy Greek Property Despite the Financial Crisis?

by Overseas Property Mall on Monday, March 1st, 2010 in European Property, Greece Property, Research

corfu-island-greece

By now anyone who hasn’t been living under a stone for the last month has heard of the Greek financial crisis. Basically, Greek has a massive budget deficit and investors have grown concerned about the government’s ability to bring it back under control, which has subsequently weakened the EU and the euro — not least because it highlights similarly huge deficits in Spain, Portugal, Italy, Ireland and the UK.

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