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Sounds like a bargain. Why shouldn't I pick up a property in Athens, right now? Are you talking about prime property locations in Athens?
by charlesdm 10y ago
Sounds like a bargain. Why shouldn't I pick up a property in Athens, right now? Are you talking about prime property locations in Athens?
- kkapelon 10y agoYes if you have the money now it is a good time to buy houses in Greece if you think that at some point the country will recover
- mikeash 10y agoFor one thing, it sounds like you'll be paying taxes on an assessed value far in excess of what you actually paid to buy the property.
- kkapelon 10y agoExactly! I should better rephrase it "If you have money to burn now" and can wait until the country recovers.
- charlesdm 10y agoI would assume one can challenge that valuation with the tax authority or through the courts. A building isn't actually worth €300k if it can't be sold for €300k. If I buy something from a third party for €100k today, it's worth exactly that.
- mikeash 10y agoIf it were that easy, everyone would do it and the problem would go away. Tax authorities are often unreasonable when it comes to property valuations.
- return0 10y agoProperty is a bad investment in greece. Rental yields too low. Rent instead, it's dirt-cheap at the moment.