The Times –
Philip Aldrick writes for the UK Times – article on April 11th
“After six years of painful austerity, better times are finally coming for the bailout nation
Take two countries. One will have the fifth worst budget deficit of the International Monetary Fund’s 32 “advanced economies” next year and will be growing no faster than its long-term average.
The other will have a budget surplus, once you exclude debt interest costs, and will be expanding at an even faster click. One is Britain, the other Greece. Guess which is which.”
The answer or course is that the budget surplus country is Greece. Greece is being held up as a model of hard work and prudence and has worked hard for it.
Greece’s first bond issue last week, the first since the debt crisis, was an oversubscribed success, indicators for the Real Estate market are looking hopeful, the cost of building is down due to internal deflation, the long awaited legal clarifications about Capital Gains tax on real estate sales have been published, (and are far less onerous than feared,) tourism is set to continue its boom, ensuring healthy rental incomes on vacation homes, and some of our canniest clients believe that the Greek Property market is now looking a lot less risky and more attractive than it was this time last year.
Talk to us….