Yes transactions costs are high in greece, but it's not what stopping people from buying. Prices are still too high. Rental yields do not justify buying at this

Yes transactions costs are high in greece, but it's not what stopping people from buying. Prices are still too high. Rental yields do not justify buying at this time[1], even for newer constructions that are 100% legal. While the government could certainly reduce transaction costs, the homeowners themselves are sabotaging the market[2]. FYI i live in greece and could not afford a house during the boom years. Now i can but it's just a bad deal. It's cheaper to rent. 1. http://www.globalpropertyguide.com/Europe/Greece/Rental-Yields http://www.globalpropertyguide.com/Europe/Greece/Rental-Yiel... 2. http://www.tornosnews.gr/en/greek-news/society/19928-new-york-times-%E2%80%9Chorror-movie%E2%80%9D-on-home-foreclosures-in-greece.html http://www.tornosnews.gr/en/greek-news/society/19928-new-yor...