Residential Property House for Sale in Greece – View of the sea from the gallery right. For Sale Now.
Many people who like the residential properties in Greece ask the same question: Is now good time to buy real estate or property in Greece? The answer is Yes.
Greek Real Estate – Property Market Overview
The article in the New York times written by Nina Roberts gives advice about buying property in Greece:
A severe recession compounded by a national debt crisis has had a profound impact on Greece’s real estate market. According to Mr. Bosdas, property prices have dropped an average of 35 to 50 percent since their peak in 2008. He said about 150,000 properties were sold annually in Greece from 2002 to 2008. “But in 2011, which are the latest figures, only 11,000 properties were sold,” he added, “so the market shrank by 95 percent.” Greece is therefore the perfect buyers’ market, as prices can now be negotiated and “cash buyers are kings.”
Analysts agree in now (2014) greece is recovering from the crisis. The country is moving away from the worst moments heading to recovery. The property real estate market in Greece is being targeted by property investor from the United Estates, France, Russia, China and other countries. Buyers are looking for investment and sometimes for a holiday , overseas home. Greece offers luxury, comfort, security and amazing weather.
Who is buying property – real estate in Greece?
Most foreign buyers in Greece are from European Union countries and North America, according to Mr. Bosdas. Ms. Lainioti has seen that same demographic, along with South Americans, adding that the buyers are generally “Greek-somethings,” as she calls them — people of Greek descent. There is a concentration of French and German buyers on the islands, and Russians tend to buy in Crete, Mr. Dokimakis said. Mykonos attracts buyers from all over the world, he said.
Sources: This article has fragments of the article about Real estate market in Greece published in the New York Times you can find the original article here