The Greek crisis is the best time to buy a real estate property!

Because of the economic crisis, the real estate prices in Greece reduced to a minimum. Although economists indicate that the real estate market is literally "dry", but, at the same time, the gap between the market value and the purchase value is constantly growing both in the capital and in other major Greek cities. However, this period is best for buying property at a bargain price. Enough to have the necessary capital, because Bank loan in Greece involves specific and strict conditions.

Real estate accounts for a significant share of the welfare of the citizens of the country in which the level of home ownership is one of the highest in Europe and is 80% compared to 70% in the European Union average, according to the European Federation of mortgage lending.

Bank of Greece figures shows that the prices of apartments in the country dropped by 5.6% in the second quarter of 2015 year compared with the same period a year earlier. Thus, the pace of falling prices increased from 4.1% in the first three months of the year. The biggest fall (-10.8%) It was recorded in the year 2013. And with "peak" year 2008 prices in Greece fell by 40.5%.

Similarly, the cost of luxury villas on the islands of Greece fell by 45%, according to Bloomberg.

"Now the cost floor built House on the island of Mykonos-500 thousand euros, instead of 2 million. The cost of three bedroom homes on the island of Corfu-750 thousand euro, instead of 1.4 million, as stated in the Agency.

During the campaign, the Greek Government's anti-crisis was a tax on luxury real estate. In any case, the prosperous development of the situation will depend on improving the level of employment and improve the conditions of funding.

 

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