WHAT'S HAPPENING IN OUR MARKET?

MARKET ANALYSIS.

  • Greece’s economic woes dampened the momentum the country experienced in the real estate market after Athens hosted the 2004 Summer Olympics. These days, buyers seeking trophy homes and holiday villas--even private islands--are nabbing them at great values as a result. The hope is that sustained tourism will be a catalyst for renters to become buyers.
  • Buyers from Northern Europe, North America and Russia are attracted to Greece’s long summers. Sprawling coastal villas are a status symbol in the investment portfolio of high net worth individuals, especially on islands like Crete, Corfu, Mykonos and Santorini. Top money buys a residence with a private beach and a jetty to tie up the yacht. Real Estate Buyers view Greece as a lifestyle investment--think infinity pools, smart home automation and sunsets to boot--that are easier on the wallet than comparable homes in similar European locales. Except for special permits required by non nationals in certain so-called “border areas,” there are no restrictions on real Estate in Greece purchases by foreigner

INFORMATIONS FOR BUYERS

  • In Athens, the average price of apartments fell by 6.65% (-4.90% in real terms) during the year to Q4 2014, according to the Bank of Greece. Compared to the previous quarter, house prices in Athens dropped by 1.46% (-0.78% in real terms) in Q4 2014.
  • In Thessaloniki, the country’s second largest city, house prices fell by 6.89% (-5.15% in real terms) y-o-y to Q4 2014. From the previous quarter, house prices were almost the same, slightly declining by only 0.33%. When adjusted for inflation, house prices actually rose by 0.35% from the previous quarter.
  • In other cities (excluding Athens and Thessaloniki), there was a 5.86% drop in house prices (-4.10% in real terms) during the year to Q4 2014. During the latest quarter house prices fell by 1.94% (-1.26% in real terms) in Q4 2014.
  • In other urban areas (excluding Athens), residential property prices declined by 1.80% (-0.38% in real terms) y-o-y in Q2 2014. Quarter-on-quarter nominal house prices slightly rose by 0.39%, although they actually fell by 0.87% when adjusted for inflation in Q2 2014.

BEST PROPOSALS

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Est. Opening Bid: $389,054.48

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Liberoisl porta eisque eget malesuada at neqvam. Nulla facilisi. Aenean nec eros. Vesulum ante ipsum primis in faucibus orci luctus et trices posuere cuspendisse solli. Nulla facilisi. Aenean nec eros.
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Est. Opening Bid: $209,092.48

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About Akmongroup - Real Estate

The Akmongroup Real Estate Company started to operate as an affiliate of Akmongroup- G.E.A construction company which is established in the construction market 35 years ago.