Of all of the recessions that hit various countries around the world, there’s no denying that the country who felt it the hardest was Greece. In the short span of a few years, the country went from being seen as a model of economic integration and free-market capitalism to an economic pariah that threatened to bring down the euro (due to said un-controlled free-market capitalism). Even when other countries such as Spain and Portugal began to attract investors again it seems as though Greece was going to be ignored forever. However it seems as though investors are finally waking up and realizing that, with global economic forces slowly turning again, Greece is an investment opportunity and has some of the most prime real estate in the world.
Over the past year and a half, investors have bought over $1.58 billion worth of properties from both the government as well as private sellers and companies. While those are the deals that have already been made, there are far more in the works as firms from countries ranging from the UK to Turkey to the United States are competing to buy as much of the undervalued land as possible before fortunes reverse. As the Greek economy slowly makes a turnaround into growth, the prices are staying low for now. However they will rise quickly and when they do the Greek economy will be on far firmer footing than it has been in a long time.
If you’d like to read more, the link is here.
from Moshira Soliman and Real Estate Management http://ift.tt/1x7zYxH
from WordPress http://ift.tt/1q8Pu7M
No comments:
Post a Comment