Invest In The Real Estate Of Greece: A Once In A Lifetime Opportunity

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An investment in the real estate market of Greece at this moment is ideal if you are looking to take advantage of the fire side sale, now taking place. The worsteconomic crisis in modern Greek history has created a once in a life time opportunity, to buy property that was not affordable just 6 years ago. The GDP (Gross Domestic Product) of Greece has shrunk by almost one-quarter, and real household disposable income has decreased by over one-third. Thousands of formerly profitable businesses have been forced into bankruptcy. Owners of these enterprises along with their erstwhile employees are now being forced to liquidate property holdings on a massive scale. Along with this there has been a collective exodus of young graduates and professionals. This has resulted in real estate becoming a buyer’s market.

Read more Greek Crisis Sparks Overseas Interest In Local Real Estate

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European leaders have found an eleventh hour agreement on a third bailout plan that may pull Greece from the brink of bankruptcy, although discontent about the conditions of the deal is rife in the troubled Mediterranean country.

Provided the Greek Parliament approves the urgent measures requested by the European summit, the Greeks can look forward to an easing of the capital controls that have strictly limited the amount of cash people can withdraw from their bank accounts. However, it may take longer to return to normality in sectors such as real estate, whose fortunes will vitally depend on how the Greek economy adjusts in the next few months.

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