Buying Property in Greece
 

This is my new endeavor. I want to buy something in a country that got hit hard by the last crisis and has not recovered. They have not allowed foreclosures in Greece yet but I see that they are seizing property using other means. So it is shaking out. Anyone have experience there? They have some new building code rules that make any new purchase a nightmare according to what I have read.

dont forget about Spain...and Detroit ;-)

Spain is an option for sure. I actually like it and have been there. Greece seems like it is due for some serious pain this year though.

You r very wrong.Its very expensive to buy property in Greece.Try to search some real estate company and see the prices

good luck profiting on other's misfortunes

Crimea property no?

Buying in Spain is not cheap either. We do plan to check more when we go in July but Its not looking good.

I would def look into Northern Italy.

Depends where you are.

It is super cheap. You can get a brand new 160 m condo for 180k usd. Prices are nuts there. Now I don't areas etc so that is an issue. Prices are down 50% from their peak though pretty much overall.

If it gave me a US residence permit I would buy one right away.

Not sure what to say to that?!? The people of Greece would/should welcome outside investment. But you are saying since they are at a point where few people want to buy, we should all stay away and let them to themselves as it is "better." So not spending my money there helps who? I hurt who by buying stuff there?

exactly...I would say that is cheap and bargain, but dont forget about about IBI tax......

smart move dude.Trying to buy property near the sea will cost you a hole fortune

Buy property where they're running out of room to expand. Your investment is sure to grow until the next natural disaster.

His post applies to greeks as well, I mean greek buyer doing the same thing would be also "profiting from misfortunes".
So basically what he is saying that nobody should buy the properties and let them stay empty for 100 years until it finally breaks into dust :1orglaugh

All in all - stupid comment.

Is that premium location? If random location than it is not super cheap, you can build/develop 1 square meter of condo space for $1125 in Greece.

I am currently looking at Portugal....feedback welcomed, Azores to be more specific.

Got me a little interested, I guess I will look at some prices.

Got friends from Greece and usually go there a few times a year. Buying a property would be a very good investment, since everything is cheap. Their economy will recover the sooner or later, and then boooom, the prices will go up again. Trust me on this one

on uk ch5 write stuff the other day, odly one of the guests was from greece and he said property is cheap. but he also pointed out most people do not buy, but rent.

in spain property was cheap but brits went out and the price shot up.

Same is true in Brazil. Most people rent but the prices still move when times get better. The rent is also nice as it allows you to hold on.

you should look up Sicily in Italy also Reggio Calabria...

if you buy online you will get shafted on the price where ever you buy...you need to be there for months and moths and find a local to search for you...

Why not in Turkey? Great weather, great people and lots of tourism. It's also a great investment

and huge earthquakes...

all the atomic and chemial waste from all over europe putted into sea in this region is definitly a big motivation to invest there. ive read an article where members of us bases are not allowed to move to certain quarters and drink
tap water to avoid cancer 8(

Unless you have access of historic pricing and become familiar with the area the property is located, I don't see how you would make a wise purchase

Portugal is cheap now, not as cheap as Spain but not fare up, Azores is great but for a short period of time, Nice villas for around $150 000 are easy to find.

If Portugal is cheapish, id be interested in the silver coast region.....

On the other hand, if its a PURE investment play and you don't have a lot of cash on hand, China's property bubble is bursting right now albeit slowly. In a second/third tier city you can pick up a decent three bed apartment in multi-story block for less than $80k.

Just a year ago, $80k would just about manage 2 bedroom. Im talking about 2nd/3rd tier cities but good ones. Long term you're going to get great returns but you also have to remember that China is on course to be the superpower of the world.

China is on course to be the largest economy in the world so if you measure up, you could bag a winner. Also long term, it is widely anticipated that the yuan will strengthen against the USD - the gains made against the USD could outpace even the gains you make on the property itself.

Not to mention youll have a nice diversification away from home country assets.

I've got my eye on a few homes in Greece.

http://205.134.238.37/~greecech/diyFiles/Greece-Map.jpg