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Greece, the most perfect and inexpensive real estate market, according to the NY Times

Greece, the most perfect and inexpensive real estate market, according to the NY Times

The New York Times refers to Greece as an ideal investment 'paradise', for those seeking to buy inexpensive property.
The article refers to how our country is influenced by the economical crisis, which resulted on a 30%-50% reduction of the prices in real estate.

It's also being mentioned that in the years from 2002-2008, almost 150.000 sales were made, whereas in 2011 only 11.000 properties were sold. This implies that the market has been shrinking by unbelievable 95%.

The journalist, taking for granted all the above, considers Greece in crisis as the perfect real estate market, highlighting the fact that almost everything can be negotiated and if one pays in cash, he can do pretty much everything.

He also mentions that the new hard tax regulations regarding properties in Greece in comparison to the low wages, brings the owners to sell their properties for really low prices.

As the journalist claims, most buyers come from the EU and North America, as well as plenty of Greeks who live abroad and wish to get a bargain property in Greece.
Germans and French tend to choose properties on islands, Crete attracts the Russians and Mykonos is a worldwide choice.

Last but not least, she says that potential buyers ought to get financial aid from their countries if they need one, as Greek banks are not providing any loans at the moment.

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