REAL ESTATE MARKET IN GREECE www.omase.gr

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REAL ESTATE MARKET IN GREECEwww.omase.gr

• By Harry Zepidis
• Real Estate Agent - Athens

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WHY SHOULD ONE INVEST IN GREECE?

• PLEASANT CLIMATE
• ENJOY A VARIETY OF SCENARY
• GREEK HOSPITALITY
• High quality of service

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Industrial buildings

• Greece had not been highly developed on an
  industrial level. Thus there is a minimum
  availability of standardized industrial buildings

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Tendencies of land for industrial use

• Modern Manufacturing materials
• High antiseismic constructions
• Possibilities of environmental friendly
  technology are adopted

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also

• Managing services of high quality
• Technical services by experts

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GREEKS

• Usually (80) live in houses of their own
• Tend to offer their older residence for rent, in
  order to buy a new modern house with a loan
• They are not in debt as other Europeans

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bank interests

• remain stable at low rates
• provide stability to the selling prices
• The credit system tends to finance residence
  buying

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Athens

• Zapphire thee, the ring of the
• earth est thou
• Kostis Palamas
• (great greek poet)

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Cheap and expensive areas
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Cheap and expensive areas in Athens

• Cheaper
• Old buildings near industrial regions

• Expensive
• Near Metro stations near shopping areas

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The last five years

• Have been characterized by economical growth,
  with the exception of last year when the prices
  fell to 15

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WHY INVESTORS HESITATE?

• Bureaucracy in the civil services
• Instability of the tax system

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FIRES

• 2007 August Peloponnese (230.000 hectares of
  wood, 40.000 hectares of agricultural land)
• 2009 August Attica 21.300 hectares of woods 65
  houses

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Greece is renewing and becoming stronger
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After the 2004 Olympics

• Big public works
• High ways as Attiki odos, Egnatia, Ionian,
  Northern Crete and Pelloponise motor ways
• Opportunities for new investors in a small, well
  known country

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Offices in the center of Athens

• The few old traditional buildings offered in the
  center are expensive but extremely popular

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TENDENCY OF THE MARKET
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Regions

• Expensive Islands
• Myconos
• Santorini
• Corfu

• Foreseeing development increasing areas
• Macedonia
• Pelloponise
• Epirus

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Invest in a hotel

• Great variety of sizes
• Cyclades, Crete, Eptanisa, Chalkidiki, Athens
• From 20 bed capacity to 500
• Return of invested capital within 10 years

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