Greece is expensive for Greeks, inexpensive (still) for foreigners!

Even made us think the rally was over. And this is true for domestic investors.

In terms of real estate, for example, there are no other buyers willing to buy properties at prices of €5,000 and €10,000 in expensive neighborhoods. But there are also no buyers willing to pay more than 3,000 euros for old properties in so-called people's neighborhoods. Most domestic investors can not afford such prices. The situation is also complicated by the fact that consumer lending is no longer one of the most popular targets for banks. Demand, therefore, will not grow domestically.

This does not mean, however, that prices will fall. Not if there is demand from abroad! So far, any demand (especially for real estate) has come from those who wanted' 'get a Golden Visa. Now there are foreigners choosing Greece as a second home because they find it a beautiful and safe place to live. This is a new trend! These people are used to different values. If this trend proves to be true, prices may still rise. This will increase the income of potential sellers, but will push back the dream of homeownership for most citizens.

The situation is more "straightforward" for equities.