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Properties in Greece have fallen between 20-50 per cent

30 July 2012 / 18:07:04  GRReporter
5691 reads

Yes, there is and it is constantly rising. They are looking mainly for holiday homes and investment properties. For now, however, they are just observing what is happening, because they are expecting a further fall in prices.

What are your expectations about the property market in the near future?

I expect the market to start functioning again in 6 - 8 months, and I think that prices will begin to rise again. I think Greece will manage to overcome the crisis and this process will start from the real estate market.

What is your optimism based on?

On the fact that the government has already realized the need for a change in tax policy. If it improves, it will manage to attract investors. We must not forget that the real estate market generates a significant percentage of Greek GDP, and that a large number of occupations are related to construction.

Tags: Economics markets real estate brokers investment properties holiday homes
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