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In the midst of the crisis Greeks are buying extremely expensive properties abroad

19 February 2012 / 20:02:09  GRReporter
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An apartment of 50 sq.m. in London could cost 1 million pounds, so it is unclear what resources they have. According to some rumours a Greek family bought last year a house worth 5.5 million pounds. In any case, student housing worth up to 500 thousand pounds is among the most popular.

Turkey: According to some estimates in Turkey 10,000 properties were passed into the hands of the Greeks. Bursa, Istanbul, Antalya and Halicarnassus, are the areas where there is the greatest demand. On the shores of Asia Minor, apartments with a sea view are sold for 50 thousand euros.

Bulgaria: Many Greeks in northern Greece have acquired property in the winter resorts of Bansko, Borovets, Pamporovo, where newly built homes are sold for 400-800 euro/square metre, and luxurious, fully furnished homes – for 1,000 euro/square metre.

 

Tags: real estate property abroad Greeks investors cash Greeks
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