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The Phones Of Greek Real Estate Brokers Are Ringing Off The Hook, As The Mad Rush To Buy Cheap Villas Has Begun



It's a constant joke: People talk about wanting to snap up Greek villas and islands if Greece leaves the Eurozone and the currency collapses.

Well we've got bad news. The rush to buy cheap Greek property has already begun.

German newspaper Der Tagessspiegel reports (via Google Translate) that luxury real estate brokers are seeing MUCH more activity now than they were a year ago. (Via @sebastiengaly)

George Petras is back in business. The real estate broker and head of Engel & Völkers office on the Greek holiday island of Rhodes this year has sold twice as many lots and houses as last year. In the crisis months of May and June 2012, when the country was without a government, there was no indication for a strong sales year. On the contrary.

At that time, the phone of the German Greeks had often stood for hours still. "Only with the pro-European election results in late June have the buyer back inspire confidence in the housing market," said Petras. Since then, there is the office of the broker who grew up in Stuttgart bustle: 50 percent more inquiries than in the first half of 2011, he noted.

We checked out the listings for luxury properties on Greek islands on the website for Engel & Völkers and it's not hard to see why there's a huge rush to buy them up. They're stunning. And cheap.

We're talking real architecture, right off the glistening water, for less than the cost of an average condo in Manhattan or London.

This specimen of classic Greek architecture costs less than $1 million

The house has 6 bedrooms, 5 bathrooms, and is 3,056.95 square feet

The whole propert has 4,347.31 square feet

See the rest of the story at Business Insider

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