MARKET NEWS
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Greece to unveil painful 2016 draft budget
Oct 5 (Reuters) - Greece will unveil a painful 2016 draft budget on Monday meant to satisfy international creditors, projecting the economy will stay in recession next year before returning to growth in 2017, in line with the estimates by the country's lenders. After seven months of heated negotiations with its EU/IMF creditors, Athens agreed in July to implement spending cuts and economic reforms in exchange for an 86 billion euro bailout that kept it in the euro zone under strict supervision. Read More »
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Europe's Best Real Estate Investments for 2016
Sep 08, 2015 With the global stock markets currently in uncertain territory, many investors are once again turning toward bricks and mortar as a preferred place to put their money. The chaotic Chinese economy and ever-falling oil prices are two of the main factors making many other types of investment look particularly risky right now. However, the recovery in European property prices has been one of the major success stories of the aftermath of the global banking crisis, so savvy investors will be studying where to buy real estate in the coming year. Read More »
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Property in Greece? Tempting, but buyers are holding back
Jun.25,2015 Foreigners are eyeing Greek property. But they aren't actually buying. You can be forgiven for thinking a Greek vacation home would be a bargain - as attractive as a Greek holiday. 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's the time to take in the Parthenon or Aegean Coast at discount prices. Read More »
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Real Estate in Greece: The Countrys One Silver Lining?
17 June 2015.These are precarious times for Greece. The country is saddled with crippling debt it owes the International Monetary Fund US$1.67 billion alone and needs to secure more bailout money from the European troika (the European Commission, the European Central Bank and the IMF) to stay afloat. If Greek Prime Minister Alexis Tsipras administration can reach an agreement with creditors, his country will receive enough bailout money to stay operational. This has been a challenge, as Tsipras has been largelydefiant in accepting the proposed terms of this new loan, including cuts to pensions. If Greece cant come to any agreement, it will default on its loans and either remain in the Eurozone, or Grexit the European Union, possibly returning to its own currency in the process. Read More »
