Economic crisis

In such a short period of time the good momentum that the property could have had, has been diluted. You then only get a slow stream of average and poorly matched buyers or tenants.

Greek has been caught up in an economic crisis and has a huge deficit. In 2009, the deficit stood at roughly 14% of the GDP of the country. With this Greece found it difficult to rise to new funds through the private financial market. Problems and economic crisis were compounded when the credit rating for Greece was downgraded to junk in April this year.