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Uncertainty blocks the real estate market in Greece

13 June 2011 / 22:06:00  GRReporter
6605 reads

Today, a shop on Tsimiski works, other works from time to time, the remaining three are closed. This is the situation. Now, bagels are sold in these shops. I.e. what was sold on the street before is now available behind the expensive windows. At the same time, I am offering shops for rent, for which there is no interest even on the phone. The old owners did not want to understand that things have changed and they have to lower the prices of rents significantly. The tenants, in turn, need large profits to be able to pay large rents. So, now there are only shops of global companies that offer cheap clothing."

According to the Athenian Yannis Revitis, the development of the Greek real estate market depends on the continuous recession at the local, European and global level. The course of things will show whether market conditions will improve or worsen." Nasos Vakoulis thinks, however, that the future will not bring anything good for the real estate market unless the government does not take the necessary measures for the importation of large capitals.

 

Tags: EconomyCompaniesReal estate agneciesDropIslandsRentsInvestmentsMeasures
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