because the flats value is 30% of what it was in 2008, while we know that 2008 and before is not coming back, they are located in Central Athens and no matter w

because the flats value is 30% of what it was in 2008, while we know that 2008 and before is not coming back, they are located in Central Athens and no matter what happens in lets say 50 years from now their value might be up to what it was before. Also don't forget the sentimental value as well, my dad bought 1 of the flats himself with his hard earning while he survived the invasion of Cyprus and lost everything there. He is old as well so good luck getting him to sell the only thing he acquired in his life. Same goes for my mom, she inherited the 2 flats and the house and they belonged to her family since before WW2 for the flats and since the 1900 for the house. Very hard to sell on that. But again think even if someone more greedy that doesn't understand the sentimental value of the property gets his/her hands on it, still imagine you have to sell for 250k-300k while in 2008 it was costing 1m. Again this is just an example but it shows the price drop and again since they are in central Athens which is a city for a very long time in history at some point their prices will climb up again, not the the maximum but still.