British company Crashpadder
Although the formal issuance of loans in Greece is not prohibited, in practice, banks do not issue loans to either local or foreign property buyers. The exception is the large Greek companies with established reputation in the market.
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Mortgage offers from banks
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Tranio experts are confident that now is the best time to buy Greek real estate, as prices have reached bottom and are ready to grow (according to the Bank of Greece, since the 2nd quarter of 2017, the cost per square meter in Athens stopped falling). Not only we see positive changes: the editors compiled a digest of the main news about the Greek economy, published in the first three months of 2018. Continue reading
Currency fluctuations are affected by various factors: monetary policy, inflation, consumer confidence, GDP dynamics, and the balance of payments. As a rule, along with the growth of the currency, real estate prices simultaneously rise and profitability decreases (and vice versa).
The devaluation of the national currency means interesting opportunities for foreign property buyers. In markets with a significant share of foreign investors, such conditions can cause a surge in demand and even change the phase of the cycle. Continue reading