In case you happen to be in the investment sector particularly those involved in real estate in Europe, Greece is not an option. In fact, if you ask most investors, they would tell you that it’s a dumb move! That may be the case in the past but not now! In case you’re still not up to date to Greece’s economy, it’s recovering and is forecasted to continue to do so. While the economy of the country is still fragile, there are good signs that it will strengthen this 2015.
A 1.8% increase in Greece’s export of goods and services has been recorded last 2013! We all know that with this kind of positive economic recovery especially if a country’s goods and services are involved, other good economic indicators will follow eventually. Let’s not forget the bold actions of giant real estate institutions that have started investing in property in Greece! Some of the noteworthy ones are: Financial Holdings Ltd (Toronto, Canada), Invel Real Estate Partners (U.K.), Colony Capital LLC (Los Angeles, California, US), Jermyn Street (Arab-Turkish real-estate fund). Their actions have inspired small-scale investors to buy properties as well to various regions such as Crete, Halkidiki, Cycladic Islands (particularly Mykonos & Santorini), Corfu and the Porto Heli region which is located on the eastern side of Peloponnese.
Another good indication that Greece is picking up an upward momentum is its recent return to the debt market. Their five-year bond issued by the government with a $4 billion dollars worth didn’t even (obviously) covered the orders placed by investors which is around $27 billion dollars.
No dumb investor (on an institutional level or individually) would invest on something they deem a waste of money. While the upcoming election have scared some investors, those who have already purchased properties located near tourist attractions won’t get affected since flocks of tourists visit the country annually generating a continuous flow of income.