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Selling to Russians News: Russians buy more Greek homes
August 04, 2015
Lately, many sources from all over the world publish articles on Russian real estate buyers in Greece. Although the history of the Russians buying properties in Greece has been long, right now it is a new wave.
Here are some recent facts from various publications:
"Greece's debt crisis has created an economy of bargains for foreigners. Tourists have been coming in droves. A record number of visitors came to Greece in 2014, at least 22 million, according to the Bank of Greece (up 23 per cent from 2013), all deciding that now is the time to take in the Parthenon or Aegean Coast at discount prices. And by all accounts, the residential real-estate sector is said to be a buyer's market for foreigners. Good homes are available at practically any price for which a buyer may be looking.
"Since the beginning of the Greek crisis in 2009 prices for the local luxury homes have dropped by up to 50 percent. The middle class houses are now available up to 30 percent cheaper.
"While no one can predict what will happen next in the Greek crisis, the Russian oligarchs are rubbing their hands. And buy the Greece's most beautiful villas! Because the prices for luxury homes around Athens and in the sun islands of the country are falling into a bottomless pit!
"According to a recent survey of Greek and Russian agents who specialize in Russian elite, in 2015 there was twice as many Russian buyers, as usual.
"If a villa on the Greek island of Syros cost 1.6 million euros a few years ago, it is now selling for just € 800 000, as one of the surveyed realtors says.
"This fall in prices and the depreciation of the ruble over the past year made it attractive for the Russians to invest in the Greek real estate. And this trend is clearly noticeable among the various agents."
On top of the attractive real estate prices, there is the Greece government’s so called "Golden Visa" Program which provides residence rights for foreign property buyers in the country and it is also interesting for some Russian buyers.
In general, this recent trend tells us that Russian buyers have become more sophisticated with time (not buying so much on emotions as in the past, but more on business considerations) and even under the Western sanctions and depreciation of their currency they keep buying international real estate that seems promising to them.
To utilize the trend to your advantage as a private seller of real estate, realtor or developer, you will have more success in the Russian buying market, highlighting the reasons why buying your properties right now is so effective and profitable.
To your best business success,
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