Brits cautious about European properties

With much of the world relieved at the outcome of the Greek elections, which have resulted in Antonis Samaras of the New Democracy party being sworn in as prime minister of the country, optimism is returning to businesses looking to send employees to the nation.
Les Calvert, director at, explained that in the run up to the seminal elections, which could have resulted in the country leaving the euro, enquiries for Greek properties had been cautious.
Professionals moving overseas have potentially been holding out on making such an important decision, which has certainly been shrewd thinking. Though confidence is returning, that cautiousness is still evident.
“I think there is probably a bit more to go as far as property price reductions are concerned in Greece before they start to jump in; the majority of people are of that opinion,” noted Mr Calvert.
“Although enquiries for property in Greece are going up, I think that what people are doing is feeling their way around what is available in the market and then keeping their eye on those particular properties with a view to possible price reductions when things bottom out.”
The property expert went on to say that the outcome of the elections is helping to restore confidence in the property market among countries across the continent, but that here too, the mood is typified by restraint, with people “waiting” before making a decision to get a mortgage.
“With Spanish properties, people are looking for repossessions wherever they can and they are bartering prices down,” he added.
“There are an awful lot of enquiries for property in Turkey, but they are still hanging on to see what effect the euro situation will have on the prices.”
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