Anybody who reads a newspaper, or surfs on the net, will be aware that the Greek economy is at crisis point and that the incoming government has to slash the country’s spending, immediately. Amidst a raft of measures designed to cut spending, increase taxation, and tackle the endemic corruption that has fuelled the black economy and reduced tax receipts, PASOK has announced that it is to shift the burden of Greek annual property taxes.
More on Greek Property Taxes – PASOK Implements Immediate Changes
When investors look at Greek property investment, they normally think of Mykonos Crete or Attica, places with a well-established market that generates quick profits. Certainly, for higher end property investments, the kudos attached to these places is guaranteed to generate interest and has fuelled a development boom. However, the recent economic crisis has caused the market to stagnate, a little. Developers and investors are finding it increasingly difficult to make a profit, especially when the new government is threatening to increase the taxation burden upon high-end property portfolios.
As the world economy struggles along, and economists frantically attempt to uncover the notorious ‘Green Shoots of Recovery,’ the newly installed PASOK government has little time to waste. Prime Minister, George Papandreou, has named his cabinet and proposed a 100 day plan to boost the economy. Lowering some of the barriers to Greek Property investment is a keystone of this call to arms, a promise that may lure back some of the investors currently looking at Eastern Europe and Turkey.
More on PASOK, the Greek Economy and Greek Property Investment
Talk of the impending General Election dominates the news, fuelling intense debate in every taverna across the land, as the parties lay down their manifestoes for escaping the economic doldrums. Greeks love talking about politics and they love elections even more, although that may be due to the extra holiday given for voting and for recovering from the ordeal.
Property Investment Peloponnese: Tripolis – One For The Future
For many years, Greece has been a prime destination for Northern Europeans and Americans wanting to live the dream and buy a holiday home in the sun. However, successive Greek governments have instilled measures to deter investors and prevent ‘flipping.’
More on Property Investment Peloponnese: Tripolis – One For The Future
The Greek Fires – The Final Coffin Nail For Karamanlis
The Greek Fires – The Final Coffin Nail For Karamanlis
After the notorious fires of two years ago, which led to huge tracts of land laid waste, everybody assumed that the Greek government would have learned their lesson. With the ravaged lands just starting to regenerate, the fires struck again, destroying a huge area and reaching the outskirts of Athens itself. Sadly, the emergency response was disorganised and, once again, the Greek government stands accused of being directionless and rudderless. The perception of Karamanlis as incompetent plagues every political satire show and fills every newspaper op-ed.
More on Greek Elections and What They Mean for Greek Property Investment
Often, Hollywood is a great friend to Greece, and films shot in the Greek Islands give the country a lot of free publicity. Zorba the Greek made Crete into the most desirable location in Greece, Shirley Valentine promoted Mykonos, and Captain Corelli’s Mandolin boosted tourism in Kefalonia for many years afterwards. Recently, the film Mamma Mia, based upon the works of ABBA, filmed on the island of Skopelos, promises to have the same effect. This small island, lying near its better known neighbour, Skiathos, is set to become a major tourist destination, despite the one hour ferry journey.
Monks, Prince C harles and the Greek Investment Property Scam
As Greece moves into spring, and the nation wakes from its winter hibernation, the Vatopedi property scandal rumbles on. This scheme, involving high-ranking members of the government and the Greek Orthodox Church, became one of the pressure points leading to the Athens riots last year. As the sheer scale of the financial frauds committed across the world becomes apparent, even the allegedly holy are embroiled in the economic morass.
More on Monks, Prince Charles and the Greek Investment Property Scam
Greek Property Investment And Pensions
For many people, retiring to Greece is the only logical choice, a just reward for a lifetime of work and toil. Thousands of retirees look to Greek property investment as the chance to relax after long career. Greece offers the best quality of life in Europe, and the country has a wonderful laid-back attitude, perfect for enjoying the best years of your life.
