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
Green Property Investments in Greece
Whilst the green movement in Greece was long held up by the usual bureaucratic assault course, the fires of 2007 provided an impetus for change. The government, often lampooned, is actually in danger of getting something right. In a refreshing display of forward thinking, the government announced plans to assess the viability of green energy in Greece. For a pilot study, they chose the isolated island of Aghios Efstratis, some 80 km northwest of Lesbos. For environmentally minded folk, green property investments in Greece are becoming a genuine possibility.
LUXURY PROPERTIES IN GREECE
So far, most of the posts have concentrated upon the lower end investments in Greece. For those of you who found a little spare change down the back of the sofa, here are a few of the luxury properties in Greece. These offer the chance to own a piece of prime real estate that is unique, beautiful and packed with ancient history
GREEK TOURISM 2009 – THE CRUCIAL YEAR
As the true depth of the world economic crisis unfolds, Greeks await the summer season with trepidation, praying that the number of visiting tourists does not plummet. A fall in numbers is expected but, for a country that relies upon holidaymakers, the scale of the drop will have serious repercussions for the wider Greek economy.
GREECE – THE PERFECT RETIREMENT DESTINATION
As a purely financial investment, Greek property is a slow gainer. The government has actively tried to discourage speculation, through building restrictions and a harsh gains tax. As somebody who lives in this beautiful country, I am glad that it has gone down this route. Greece has largely avoided the condominium fetish of many other Mediterranean destinations.
THE STATE OF THE GREEK PROPERTY MARKET
As the economic crisis deepens and intensifies, the first tentative figures showing the current state of the Greek property market are beginning to surface. A slowdown was always expected, so the question concerned only the degree. The 2008 Q4 figures show that the world economic crisis had some impact, but the figures are certainly not disastrous. Overall, property prices are holding steady, although the inherent difficulties of the Greek market make any investment advice tentative.
GREECE AND THE ECONOMIC CRISIS
The economic crisis is certainly affecting Greece, and the country is lumped in with Portugal, Italy and Spain as one of the Eurozone’s PIGS. Certainly, things are looking bleak as the seemingly endless economic crisis hits this corner of the Mediterranean. As 2009 unfolds, and the monsters hidden under Wall Street’s bed come out to feed, economists and analysts are unable to build a coherent picture of the sorry financial morass.
