The upmarket property company says in its latest Islands Report: “As the long-term ramifications of Greece’s financial bailout play out more fire-sales of Greek islands are expected.”
About 20 Greek islands were put on the market last year, and Knight Frank expects more to follow as the implications of the property tax begin to hit home for more owners.
Knight Frank notes that Greek islands will probably attract “bargain hunters,” and foreign investors are already turning to Greece to hunt out good property deals.
The Independent reported on Saturday that Russian, Chinese, and even Serbian and Bulgarian investors were buying up discounted properties.
Full article: Get ready for a ‘fire sale’ of Greek islands (Business Insider)