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real estate

Non EU Citizens Able to Rent Out Properties in Greece

According to the Greek Development Ministry a new plan is under development after mostly Chinese investors expressed their interest in Greek properties. This new plan will allow non EU nationals who own property in Greece to be able to...

Shocking Decline in Greek Construction Activity

  The deep economic recession that Greece suffers from in conjunction with the strict fiscal policy, had a negative impact in building activity which records a constant decline since the crisis outburst. According to a survey conducted by Infobank Hellastast S.A,...

Unsold Real Estate in Greece Keeps Piling Up

Unsold real estate keeps piling up in Greece. In fact the number of unsold properties in the real estate market is approximately 270,000. According to a study conducted by the research and analysis department of the  Re/Max Athmonon real...

Athens in 13th Place Among European Cities for New Investments

A new study conducted by PwC and the Urban Land Institute on trends in the real estate industry in Europe reports that Athens places 13th among the European cities with prospects for new investments, showing that foreign investors believe...

House Prices Drop in Greece

According to the Bank of Greece’s Monetary Policy report published on Tuesday, since the beginning of the financial crisis five years ago, in 2008, the house prices in Greece have fallen by 37.6 percent in real terms. The report also mentions...

"Asteras" Investment Under Investigation

An investigation was ordered by the Prosecutor, Eleni Raikou, after accusations of fraud and embezzlement was made public by the regional councilor, Nikos Galanos, in association with the call for investments by the privatization fund TAIPED in the luxurious...

It’s Raining Money in Mykonos

While the rest of the country is plagued by crisis, with unemployment rate at 27 percent, the island of Mykonos is rolling in the dough with an avalanche of tourists spending money like there's no tomorrow. According to the Guardian,...

Turkey Bars Greeks from Buying Real Estate

Turkey expects a lot of foreign interest in its estate market, but is imposing restrictions on investments from neighboring countries, including Greece. According to recently announced reciprocity regulation, Greek citizens are prohibited from buying estate on the coastal provinces...

Greeks Take their Money Out of the Country While Russians Bring It In

Greeks, afraid of a possible euro exit, have rushed to move their savings outside Greece, mostly by transferring funds to European banks or purchasing property abroad. On the contrary, European individuals and companies are investing their money in Greece...

Germans Looking for Property Purchase on Greek Islands

Famous German newspaper Die Welt published a reportage, under the title "Pursuit of Offers in Real Estate on Greek Islands," underlining the importance of increasing rates of German visitors for Greece. Germans have always been keen on visiting Greek islands, but now...