Category: Buy2Greece

Buy2Greece.com

Average prices per square metre (sq.m.) of apartments in the centre of Athens have dropped by around 11% during the year to July 2013. This is roughly in line with Bank of Greece’s house price index, wherein apartment prices in Athens dropped by roughly 13% during the year to end Q2 2013.

In our survey last year, apartments in the centre of Athens cost on average, EUR 3,800 per sq. m. But in our latest survey, the average price per sq. m. is now around EUR 3,300.

In the suburbs of Athens, i.e., Ekali, Kifisia, Psychiko, Glyfada, the average price per sq. m. of apartments is around EUR 2,600, while houses cost around EUR 3,100 per sq. m.

Apartments in Crete cost around EUR 1,800 per sq. m. while villas cost around EUR 2,400 per sq. m.

Monthly rents per sq. m. all throughout Athens range from around EUR 7 to EUR 9 per sq. m.

In Crete, monthly rents per sq. m. of apartments range from around EUR 4 to EUR 7.

Gross rental yields from properties in Greece, i.e. the gross return on investment in a property if fully rented out, are very poor, ranging from 2.57% to 4.12%.

Greece continues to endure double-digit year-on-year house price falls, with the Greek economy facing its sixth year of recession. It is expected to contract by another 4.2% during 2013.

In Athens, the capital and the country’s largest city, the average price of apartments plunged by 12.6% (-12.6% inflation-adjusted) during the year to end-Q1 2013, according to the Bank of Greece. During the latest quarter, i.e., quarter-on-quarter during Q1 2013, house prices in Athens fell by 2.6% (-0.6% inflation-adjusted).
Almost all cities experienced house price falls:

• In Thessaloniki, the second largest city, house prices dropped 8.3% (-8.2% inflation-adjusted) y-o-y in Q1 2013. House prices fell 1.2% during the latest quarter (which means that they rose by 0.9% in inflation-adjusted terms).
• In “all other cities”, residential property prices plunged 11% (-11% inflation-adjusted) during the year to Q1 2013. Quarter-on-quarter, house prices dropped 2.9% (-0.9% inflation-adjusted).
• In “all other areas”, house prices fell by 10.9% (-10.9% inflation-adjusted) y-o-y in Q1 2013. In a quarterly basis, house prices dropped 0.7% (+1.4% inflation-adjusted) in Q1 2013.

Residential property prices in Athens have been falling since 2008, mainly due to the adverse effects of the global economic and financial meltdown.

• In 2008, residential property prices fell by 0.77% (-3.57% inflation-adjusted)
• In 2009, house prices fell by 4.21% (-6.04% inflation-adjusted)
• In 2010, house prices dropped 5.83% (-10.4% inflation-adjusted)
• In 2011, residential property prices plunged 8% (-10.49% inflation-adjusted)
• In 2012, house prices plummeted by 13.1% (-14.08% inflation-adjusted)

Property demand remains depressed. Residential real estate transactions in Greece fell in number, volume, and value.  In the first quarter of 2013, the total number of residential real estate transactions plummeted by 24.5% to 4,976 from the same period last year.

In May 2013, the total amount of outstanding housing loans in Greece dropped 4.9% to €72.56 billion from the same period last year, according to the Bank of Greece.

To revive the ailing housing market, the Greek government has recently offered residence to non-EU investors purchasing or renting property worth over €250,000.  The residence plan, which is similar to measures adopted by Hungary, Spain and Portugal, is valid for five years and open to renewal.

Greece has been granted two successive rescue loan packages since May 2010 by European leaders and the International Monetary Fund (IMF) worth €110 billion and €130 billion, tied to a stiff austerity package. The austerity measures imposed by the government include:

• Tax increases
• Spending cuts
• Privatization of government-controlled corporations
• Slashing salaries
• Slashing pensions, especially for high-income retirees
• Taxing low-income earners. The taxable income threshold would be reduced to EUR5,000 from EUR8,000
• Placing about 30,000 public workers in labor reserve

Other reforms include strengthening laws against rampant tax evasion, liberalizing the labour market and selling state assets.

Some of the moves were not accepted by the public, and violent protests, rallies, strikeouts took place in key areas.

In the first quarter of 2013, the Greek economy contracted by 5.3% from a year earlier. The economy is expected to shrink by another 4.2% in 2013. GDP fell by 6.4% in 2012, 7.1% in 2011, 4.9% in 2010, 3.1% in 2009 and 0.2% in 2008.

source: Analysis of Greece Residential Property Market

According to Reuters, now that Dubai has won the bid to host the 2020 World Expo, the result will be billions of dollars of investment in the emirate, although there is a risk of a repeat of the boom-and-bust cycle which nearly caused financial collapse just a few years ago.The emirate nearly defaulted on its debt four years ago after the burst of the real estate bubble which causes property prices to crash over 50 percent between 2008 and 2010.

Υπεγράφη από την υπουργό Τουρισμού κα Όλγα Κεφαλογιάννη η Υπουργική Απόφαση αναφορικά με τους όρους και τις προϋποθέσεις λειτουργίας των τουριστικών επαύλεων (βιλών) και κατοικιών. Η απόφαση αναμένεται να δημοσιευτεί στο ΦΕΚ τις επόμενες ημέρες.

Στην απόφαση περιγράφονται τα δικαιολογητικά για την απλοποιημένη διαδικασία έκδοσης σήματος λειτουργίας, το οποίο όπως ορίζεται από τον Ν. 4179/2013 γίνεται αυτόματα εντός 10ημέρου με υπεύθυνη δήλωση του ιδιοκτήτη και μηχανικού, χωρίς να απαιτείται αυτοψία.

Σύμφωνα με την απόφαση τα δικαιολογητικά που απαιτούνται για τη λειτουργία των τουριστικών επαύλεων είναι:

Αίτηση-υπεύθυνη δήλωση

Τοπογραφικό διάγραμμα οικοπέδου / γηπέδου συντεταγμένο από μηχανικό.

Αντίγραφο οικοδομικής άδειας ή δόμησης

Βεβαίωση καλής λειτουργίας του αποχετευτικού συστήματος

Υπεύθυνη δήλωση του αιτούντος ή εντεταλμένου μηχανικού ότι το κατάλυμα έχει ανεγερθεί και πληροί όλες τις τεχνικές και λειτουργικές προδιαγραφές

Υπεύθυνη δήλωση του αιτούντος ότι είναι ιδιοκτήτης του οικοπέδου / γηπέδου που ορίζεται στο τοπογραφικό διάγραμμα

Απόδειξη κατάθεσης παραβόλου.
Όσον αφορά στις τουριστικές επιπλωμένες κατοικίες τα δικαιολογητικά που απαιτούνται για την έκδοση Ειδικού Σήματος Λειτουργίας, είναι:

Αίτηση-υπεύθυνη δήλωση

Αντίγραφο οικοδομικής άδειας ή άδειας δόμησης

Βεβαίωση καλής λειτουργίας του αποχετευτικού συστήματος

Τοπογραφικό διάγραμμα του οικοπέδου / γηπέδου

 

Τεχνική έκθεση μηχανικού στην οποία βεβαιώνονται οι υπάρχουσες κατοικίες, οι πλήρεις διαστάσεις αυτών, τα εμβαδά των εσωτερικών χώρων και η δυναμικότητά τους (κλίνες, δωμάτια)

Υπεύθυνες δηλώσεις του αιτούντος ή εντεταλμένου μηχανικού ότι το κατάλυμα έχει ανεγερθεί και πληροί όλες τις τεχνικές και λειτουργικές προδιαγραφές που περιγράφονται στην παρούσα υπουργική απόφαση

Απόφαση Έγκρισης Περιβαλλοντικών όρων (A.E.Π.Ο.) ή ΠρότυπεςΠεριβαλλοντικές Δεσμεύσεις (Π.Π.Δ.), εφόσον απαιτείται απόδειξη κατάθεσης παραβόλου.

Όσον αφορά στις προδιαγραφές αυτοεξυπηρετούμενων καταλυμάτων, μεταξύ άλλων απαιτείται:

Οι τουριστικές επιπλωμένες επαύλεις (βίλες) να έχουν ελάχιστη επιφάνεια 100,00 τ.μ.

Οι τουριστικές επιπλωμένες κατοικίες να έχουν συνολική ελάχιστη επιφάνεια 40,00 τ.μ. (Μονόχωρες) και 60 τ.μ. (δύο κυρίων χώρων και άνω)

Το οικόπεδο/γήπεδο να είναι προσπελάσιμο και να απέχει συγκεκριμένη απόσταση από χώρους Υγειονομικής Ταφής Υπολειμμάτων και λατομεία

Η προσπέλαση στα τουριστικά αυτοεξυπηρετούμενα καταλύματα να γίνεται από δρόμο ή δια δουλείας διόδου.

Τα όποια έργα διαμόρφωσης του περιβάλλοντος χώρου να είναι ολοκληρωμένα.

Ο χώροι των αυτοεξυπηρετούμενων καταλυμάτων να διαθέτουν τον απαραίτητο εξοπλισμό σε έπιπλα και ιματισμό, συμπεριλαμβανομένου του εξοπλισμού κουζίνας και λουτρού.

Στόχος της συγκεκριμένης Υπουργικής Απόφασης είναι να γίνει σαφής, φιλική και απλοποιημένη η διαδικασία έκδοσης σήματος λειτουργίας για τους ιδιοκτήτες και τους επιχειρηματίες αυτοεξυπηρετούμενων καταλυμάτων.

 

«Η Ελλάδα αποτελεί έναν από τους πιο ελκυστικούς θερινούς προορισμούς και είναι χαρά μας που συμβάλλουμε στην προώθησή της, μεταφέροντας νέους επιβάτες, από όλο το δίκτυο μας- το μεγαλύτερο δίκτυο αερομεταφορών στην Ευρώπη», δήλωσε σήμερα ο διευθυντής της easyjet για την Ευρώπη Mike Campbell, ανακοινώνοντας την έναρξη πέντε νέων προορισμών στην χώρα μας από την άνοιξη του 2014.

Συγκεκριμένα, πρόκειται για τους προορισμούς Αθήνας-Αμβούργου, Ηρακλείου-Εδιμβούργου, Kω-Γλασκόβης, Μυκόνου-Νάπολης, και Κέρκυρας-Νάπολης,.

Όλες οι πτήσεις θα πραγματοποιούνται 2 φορές την εβδομάδα και θα ξεκινήσουν, οι τρεις πρώτοι προορισμοί στις αρχές Απριλίου, ενώ τα δρομολόγια από Νάπολη προς Μύκονο και Κέρκυρα τον Ιούλιο. Με τις προσθήκες αυτές η χωρητικότητα των πτήσεων της εταιρείας θα αυξηθεί κατά 7% σε σχέση με φέτος ενώ αναμένει, ότι ο αριθμός των επιβατών της από και προς την Ελλάδα θα ξεπεράσει τα 2 εκατομμύρια.

«Η εταιρία έχει μεταφέρει 1,7 εκ. επιβάτες τον τελευταίο χρόνο, σε 55 δρομολόγια από/προς την Ελλάδα, συμβάλλοντας στην προώθηση του ελληνικού τουρισμού. Σήμερα, προσφέρει ένα δίκτυο 60 συναρπαστικών προορισμών από/προς την Ελλάδα και αναμένει να μεταφέρει περίπου 2 εκ. επιβάτες, συνεισφέροντας 2,000 θέσεις εργασίας στην τοπική τουριστική βιομηχανία» σημείωσε ο κ. Campbell.

Σε ερώτηση αναφορικά με το πώς θα διαμορφωθεί η ελληνική αεροπορική αγορά μετά την συμφωνία εξαγοράς της Olympic από την Aegean τα στελέχη της easyJet σημείωσαν, ότι πρόκειται σαφώς για μια εξέλιξη η οποία θα βελτιώσει τα πράγματα και ίσως οδηγήσει σε μικρή μείωση τιμών στις πτήσεις εσωτερικού. «Η προηγούμενη κατάσταση ήταν αυτή που δημιουργούσε προβλήματα» προσθέτοντας πως η easyJet στηρίζει τον ανταγωνισμό. Tέλος, σημείωσαν, ότι η δραστηριότητα της easyJet δεν θα επηρεαστεί ή η επίδραση θα είναι πολύ μικρή, δεδομένου, ότι η εταιρεία επικεντρώνεται κυρίως στον εισερχόμενο τουρισμό.

http://www.studioseilern.com/meganisi/4565766135

As determined for Phu Yen province’s tourism sector, Russian tourists is the strategic market; the demands and tastes of these tourists are comparatively easy-going, compatible with the conditions of infrastructure and current tourism products. However, to turn this tourists’ market into the main-force source, the province’s tourism sector and enterprises have loads of things to do.

 

As generally assessed by the domestic and international tourists, also by those doing the tourism business, Phu Yen possesses the intact beauty, so pure with the sea, the islands and the deep value in culture. Nevertheless, it requires a considerable investment in human resource, intellectuals, a practically long process to turn the potentials and resources into tourism products. Phu Yen tourism is in desperate need of concrete products, among which are particularly unique products to meet the demands towards attracting Russian tourists. The Russian journalist and Vietnam-scholar Daria Mishukova assessed, “Your province is possessing the abundant and featured tourism resources. To exploit, develop tourism your province needs to invest with depth, creating unique tourism products, it’s not advisable to invest immensely”.

 

Russian tourists are easy-going, and their accommodating duration is normally long, from 10 to 15 days, it’s necessary to invest in the destinations with swimming, sea food dining, shopping and entertaining, and with this, we can “gain hearts” from these tourists. As for this, Phu Yen has only met the first criteria of sea swimming and sea food dining. One of the solutions being implemented by Phu Yen tourism sector is linking with other provinces and enterprises to create striking featured tourism products to meet the demands of Russian tourists’. From the beginning of this year, the provincial leaders, the department of culture-sports-tourism, Phu Yen tourism association have worked with the department of culture-sports-tourism, Khanh Hoa tourism association and Anh Duong tourism company Ltd. twice to work out the solutions of coordinating and constructing tourism products.

 

Parallel with coordination, Phu Yen tourism sector also determines the requirements of traditional promotion, making full uses of the internet, advertise on websites in Russian…The staff of tourist guides, tour operators…must understand and use Russian to ensure the efficiency of transactions.

 

One current large gap in Phu Yen tourism sector is the serious deficiency, even at level-zero, of the human resources understanding the Russian language. Therefore, recently, Tuy Hoa Industrial College organized speedy classes for Russian for tourism; however, not many learners have registered. Exchanging as related to this issue, Mr. Pham Van Bay, vice director of Phu Yen department of culture-sports-tourism, let known that the department is considering the proposal to the Provincial People’s Committee to support 50% of the tuition for those learners of Russian language, the support is extracted from the expenditure on supporting the human resources. With the approval from the PPC, hopefully, we’re going to implement at once right from the end of this year to the first phase of 2014.

 

http://www.airpano.com/360Degree-VirtualTour.php?3D=Acropolis-Athens-Greece

Fast Track is designed to facilitate strategic investment projects and accelerate their approval Minoan Group Plc, the AIM listed travel and leisure company, is pleased to announce that its Crete Project (“the Project”) has been granted Fast Track status by the Greek Government. The decision was taken by Greece’s Interministerial Committee for Strategic Investments, which is responsible for approving projects for Fast Track, after Invest in Greece S.A. (“IIG”), the country’s official investment promotion agency, had evaluated and approved the application. The Fast Track process is part of the significant changes to Greece’s investment laws designed to facilitate strategic investment projects. IIG will coordinate the overall planning procedure. Christopher Egleton, Chairman of Minoan, commented: “We are delighted that the Greek Government has granted our Crete Project Fast Track status. It is definitely the most significant step yet in terms of bringing the Project to fruition and demonstrates the Greek Government’s support for what is now recognised as a strategic investment for the country, one which we believe will yield significant economic benefits including the creation of approximately 1,200 jobs. We are particularly grateful to the Greek Government for its efficient handling of this process, which has allowed us to cooperate effectively in addressing any issues as they have arisen. The new investment legal framework is designed to attract necessary foreign direct investment, like the Project, to the country.” The Candia Investment Corporation which, as announced on 20 June 2012, is Minoan’s financial joint venture partner in the Project investing £2 million for a 10% interest in the Project with the right to purchase a further 25% for £12.5 million, stated: “Candia is delighted with the news of the Fast Track status and its significant impact on the Project. We look forward to a rapid conclusion of the planning process.” –

Minoan, the AIM listed travel and leisure company, is pleased to announce that it has entered into an agreement (the “Agreement”) with The Candia Investment Corporation (“the Partner”) to create a financial joint venture regarding Minoan’s project in North Eastern Crete (the “Project”) The key terms of the Agreement are as follows; 1. In exchange for an investment of £2 million in cash, the Partner will earn a 10% economic interest in the Project. The funds will be made available in tranches commencing in August 2012 with the final payment becoming due in September 2013; 2. The Partner will have the right to purchase a further 25% share in the Project, for an additional £12.5 million, during an agreed period after receipt of Environmental Approval for the Project; 3. The Partner will be also granted an option to subscribe for up to 4 million new Ordinary Shares in Minoan at an exercise price of 8p per share. Subject to certain conditions the option is exercisable between 1 February 2013 and 30 September 2015; 4. The Agreement contains clauses which may lead to a limited adjustment in both Parties’ interests in the Project; and 5. The Partner and Minoan have agreed to establish a special purpose vehicle (“SPV”) to examine the possibility of creating a revenue producing business through the purchase and/or operation of leisure-related assets in Greece. The shareholding of the SPV will be Minoan 51%, the Partner 49%. Christopher Egleton, Chairman of Minoan, commented: “We are delighted to announce this major strategic partnership today. Shareholders will be aware of the Company’s stated intention to proceed with its Project in Crete by means of entering into desirable joint venture arrangements. As well as establishing a value of £20 million for the Project as it stands today, this agreement releases resources for the expansion of the Group’s Travel and Leisure Division. Following the result of the Greek election I believe that tourism will remain central to Greece’s recovery strategy and we look forward to updating the market on progress in the coming weeks”.