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Sold off its network in Greece dream islands
It sounded like a joke, but now it’s true: Many Greeks from financial difficulties to sell their islands. Of 1.5 million dollars they have to. The idea for it had calculated an FDP politician.
From Christos Roumeliotis
The agent is euphoric: “When someone wants to invest in Greece, then now is the best time to do it,” says Yiannis Revithis. “There will never be a better opportunity,” he summed up the sudden blossoming interest in Greek properties.
For in Greece are suddenly a variety of properties to buy in abundance, which is otherwise very rare for sale or rent in this market: No wonder islands.
The industry has long since found ways and means to promote international customers solvent. “Now that the Greek economy is experiencing hard times, could be come the opportunity to buy your dream island for you,” it says in the glossy brochures and leaflets on relevant websites and property portals, hawking the Greek soil, small parts of the mainland to private Aegean islands.
The Greek government was reluctant for a long time to consider the sale of state-owned real estate to even be considered. But now that the private sector, the sale of real estate pearls Hellenic facing much more open, politicians seem to Athens at least think about it, plug the gaping hole in the chronic state coffers through the sale of silverware.
Private owners are glad to be rid of their islands
The private owners of many small islands can pay the high taxes that the state collects in the course of austerity, barely, and are sometimes happy, one or the other island to be happening at last.
Especially those who have inherited their wealth, are often unwilling to make himself a slave to high taxes and maintenance costs. This is the main reason for the significantly higher activity in the market – after three years of “drought” and modest sales.
Latest case: the island of Oxia. She left the possession of the Greek-Australian family Stamoulis in the possession of the royal family of Qatar.
The Stamoulis made concessions and negotiated at the lower limit value of the actual island. In the end, the 4.223-square-kilometer island is not uninhabited for the originally reported 6.9 million euros, but for only five million euros on the table.
Oxia – nature and history at its best
And, although Oxia is wonderfully located, close to Ithaca in the Ionian Sea. Historical waters: Here gathered the warships of the Holy League, to the Battle of Lepanto in the seventh October 1571 hit the south of the island, the fleet of the Ottomans. Pure nature and history.
A large part of the island is indeed the Natura 2000 ecological network and is protected, but at least as much of tourism can be developed, what the new owners plan apparently also.
The Greek real estate industry believed that the king’s buyers have a large war chest and go on a shopping tour in Hellas are. They should be interested in keeping the grounds of the former Athens airport and more bargains in the Mediterranean area lookout.
Already in the bag is a chain of four luxury hotels in Sardinia, Costa Smeralda coast precious. One eye has thrown the royal family also seemed to € 600 million theme park near Rome, where the ancient gladiator fights with and riding games for tourists to rise.
State has over 6000 islands
To the Greek Tourism Organisation EOT According to the Greek state has more than 6,000 islands and islets in the Aegean and Ionian seas. Only 227 are inhabited, 60 are privately owned corporations, families or investors.
Some islands consist only of rugged rock formations, some are home for a few shrubs and lizards. All, however, are largely untouched and surrounded by blue, clean water, and thus enticing temptation for investors.
Anyone can buy, regardless of his nationality. There are only two exceptions: Islands in the border area or near military installations are – at least for non-European buyers – taboo.
For the small treasures for sale in the Mediterranean, there are prospects in the U.S., Canada, Asia, the Middle East, and of course in Europe. Two of the biggest agencies, the private Canadian Iceland “in Hamburg and Vladivostok have numerous inquiries. Private Islands offers small island of 1.5 million dollars, but also the island of Patroklos for 150 million, 550 olive trees and 150 goats included.
Islands are the “ultimate status symbol”
Greek Islands, the marketing agency, are “the ultimate status symbol,” the images of “drinking champagne magnates for their huge yachts,” suggesting. For this they are still relatively affordable: Less than two million dollars, “cheaper than a ski lodge in Aspen (Colorado) or a small apartment on New York’s Upper East Side.”
The hot, dry summer in Greece are perfect for “relaxing on your own island, the ouzo-drinking, swimming and sunbathing in the Mediterranean”. Climate is the main argument in this market.
“The selection of Greek islands in recent months has grown enormously,” says Chris Krolow, CEO of Private Islands in Toronto. The lie but rather indirectly to the crisis. “There was this German politician, who suggested that Greece should sell its islands. Only then it was only by media attention and many owners have had the idea to sell their islands.”
The FDP-rebel Frank Schaeffler was the one who gave Krolow the new business. But there was really Greek island owners who want to sell now from lack of money. “Some clients who have very well-known islands, do not want, that we offer them openly because they fear the publicity and draw conclusions about their financial situation – it is just that often the most attractive specimens,” says the Canadians with audible regret.
The idea came from the ranks of the FDP
In any case, the market is not easy. Although the offer was in Greece explodes, but not demand – it just exists crisis. “And in Greece, the bureaucratic hurdles are simply enormous. It was in this market has always been the problem,” says Krolow.
So there is always bitter setbacks, the dream of transforming the island into a nightmare of their own. A major obstacle to the island of happiness is bureaucratic way: Before the tourist development of the Greek gods have the permission of the Department of Defense, the Ministry of Environment, Ministry of Forestry and the Ministry of Culture asked.
In some cases, the approval of the archaeological branch of Greek administration is required: A certificate that were to be found on the island, no ancient ruins.
Other problems are logistical nature: How do you manage telephone lines, gas and electricity supplies, building materials on an uninhabited island? The true idealist can not of course all this scare, says Giannis Revithis broker: “Who has a lack of comfort care and additional expenses if you can possibly live in this beautiful part of the earth?”
Posted on May 4, 2012
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