The Italian magazine, Panorama has a controversial cover article based on the Greek crisis. The article, which refers to Greece being a bargain centre, points to the idea that there are some Europeans that view the economic failure of their neighbours as being an opportunity to build their own real estate portfolios at Rock bottom prices.
With all the drama about the Grexit and the referendum, there is a parallel interest in what happens to existing resources in countries like Greece.
What happened in Spain when Spain had its financial crisis? It would be interesting to see some figures about who stepped in and bought up those properties. Here in Italy, it's a dual edged sword. On the one hand a lot of locals scoff at Brits and Germans coming in and buying country houses in places like Umbria, Tuscany and Puglia, but on the other hand, there is resentment that although it's a win for sellers, it inflates prices on the market for locals who want to buy.
I'm not suggesting that Panorama is inciting people to buy up- but I think they've tapped into the idea that to be successful financially, you have to seize the moment of your brother's misfortune.
RSS Feed