29 Feb '12, 2pm

Panagiotis Farmakis of Sotheby’s talks about Greece's luxury property market:

Panagiotis Farmakis of Sotheby’s talks about Greece's luxury property market:

The Greek property market over the last few years has been stable and less active than before. That is to be expected because of uncertainty with the Greek economy and the current tax regime. What this does mean is that properties in Greece are attractive either because they are available at a lower price or via a distressed sale. Likewise, the beautiful, high-end properties which have always been appealing continue to be of interest. The majority of buyers seem to be coming from outside of Greece. This market is typically looking for a second home on a Greek island in the €300,000-600,000 price bracket. The rentals market for summer luxury villas continues to grow and underlines the popularity of Greece as a holiday destination.

Full article: http://www.worlds-luxury-guide.com/Luxury-News/433344/Bea...

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