Ivesting in Greek real estate?

European-DJ

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What's your take on investing in Greek real estate ... Taken the bad economy into consideration, shouldn't it be possible to earn a great amount of money by investing in a property there, and sell it after the bad times?

I don't have any knowledge in the real estate area, so I hope some of you will give me some pros and cons.

Regards!
 

backseatjuan

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The scheme works like so and it's ran by banks. Financial assassins come from United States and make a country take credit, which they can not repay. Then they make them take more credit to pay on interest. Then national currency defaults and power structure of the country collapses. United States can get the natural resources for pennies. This was the story with Russian gas and oil. (Putin froze western contracts that's why so much anti Putin crap now)

In Greece it's a little different. Greece refused to go along with this scheme. People are against austerity and default. They don't want to repay the credits, which were shoved down their throats. Investing into a country that is not stable is absurd.

Besides, Greek real estate was long ago bought by the banksters who provided the credit. Now it's being sold - to you and others like you - to return money somehow. Frankly I don't see Greece resolving itself without some sort of military involvement later down the road, people there had enough, and we could assume a revolution taking place.

No, don't invest money into a country on the brink of civil war.


Tell us, just freaking tell us, who gave you this idea?
 

Bible_Belt

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Greece will be a great investment as soon as they go back to the drachma and your one euro is worth about a gazillion drachmas. Until then, whatever you invest will be reduced to one gazillionth of its previous value after the drachma is instituted.
 

European-DJ

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Well, i dont remember who it was - but some american dude invested in a lot of real estate in Montenegro during the civil war in 1992, today he is selling it for .. well 1000 times the amount he bought it for.

He bought a lot of land and real estate near the coast/beach, for like a pennie... now he sells if for 100.000's of euros....

So thats where i got the idea from.
 

SharinganUser

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European-DJ said:
Well, i dont remember who it was - but some american dude invested in a lot of real estate in Montenegro during the civil war in 1992, today he is selling it for .. well 1000 times the amount he bought it for.

He bought a lot of land and real estate near the coast/beach, for like a pennie... now he sells if for 100.000's of euros....

So thats where i got the idea from.

How do you know he is telling the truth?
 

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European-DJ

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Because my father is from Montenegro, and is well aware of the price then vs. now.

He might be lying about the amount of land/propperties he own, but he isn't lying about what a great investment it was.
 

Nicholas

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Montenegro, from what I've heard, is run by scumbag politicians and mafia. But I don't know, they don't talk much about it after they split up from us, Serbia.

Don't compare 1992. bad times on Balkan and what most economists say greatest global recession since 1930s.
 

Vice

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If you have no knowledge of real estate at home then you shouldn't even be thinking of making money overseas through real estate in an unfamiliar country.

And making money in real estate is much, much more than buying low and selling high. Hell, you can buy high (higher than what they're asking for) and still make good money.
 

metoo

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oh, and just HOW did we "make" them take credit, eh? threaten them with nukes? The 3rd world is ruined because of people having kids that they can't raise properly, and the lack of property respect/laws. When you EXPECT everything to be stolen, it makes no sense to produce any "extra", and without "extra" being saved up/traded, you can't get out of the sewer.
 
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