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Greek Home Ownership – Sick Joke

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        • Practcally Cretan
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        Member since: 1st January 2005

        Home ownership in Greece ‘a sick joke’ as property market collapses – Guardian headline

        Interesting article has appeared in the London Guardian which looks at why Greece has suffered the second biggest property crash in the EU since the debt crisis began.

        I would have thought as this is a buyer’s market for ex-pats with such an amazing choice of properties now is a great opportunity to buy a property in Greece – anywhere in he country, especially Crete with all its attractive advantages.

        Isn’t the currency conversion also in the Brits favour?

        Article from the Guardian of Feb 28 here:


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            • BIC Full Member
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            Member since: 3rd January 2011

            In my small village, about 20 kms south west of Heraklion, population around 250, there are 7 new houses currently being built, all by local people. Since I bought my house in 2007, there have been at least 12-15 renevoations/new builds, again, all by the local people & their families. However, I only know of 1 other house during this period having been bought/renovated by a foreigner.

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                • Practcally Cretan
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                Member since: 8th March 2014

                Two new houses built opposite mine by Brits in the last 3 years. One for holidays and one for permanent residency.

                I wouldn’t call it a good investment right now but, if you love Crete, you love Crete.

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