Author Topic: Recession contraction deflation. Rental prices record drop...PM disconnected!!  (Read 981 times)

Offline alexinathens

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Owners in Greece have reduced even by half the rental prices of their properties, in order to attract tenants. During the last three years an overall fall in rental prices of about 40% has
been reported.

According to real estate agencies, during the past 12 months, the fall has reached on average 15%, as the reduction in incomes and heavy taxation has forced more and more Greek households  to seek for a house with a lower rent.  Moreover, there are cases where the reduction in rental prices is reaching or even exceeds 50%. The biggest fall has been recorded in large properties located in expensive areas which don’t easily attract tenants.

“The decline in real estate market started from selling prices and then, from 2011 onwards, when the impact of the crisis started being distinct, it expanded to rental prices,” says Lefteris Potamianos , general secretary of the Hellenic Association of Realtors. He believes that the decline in rents will continue over the next months, given that the drop in household incomes and unemployment remain high

On the other hand, according to an analysis by Alpha Bank, during the period 2000-2011, the rents of houses increased by almost 43%. At the same time, from 2000 to 2008, the prices of houses have increased by almost 91%.

A small note here. Attica is home to approx 40-45% of the country's inhabitans, around 4 million + people

At the same time !!! Antonis Samaras, the local PM says no to elections, and promises tax cuts by middle of next autumn... (remember the post about "hubris syndrom" and politicians...)

Greek Prime Minister Antonis Samaras has repeated his pledge to never again impose austerity measures – although cuts are being made to pensions in some cases – and said instead he will move toward cutting taxes and providing relief for those most affected by big pay cuts, tax hikes, slashed pensions and worker firings.

“The major changes come step by step, not suddenly,” he said in an interview with the Sunday To Vima newspaper. He promised to accelerate social reforms he said “will bring competitiveness and dynamic growth of the economy” and reverse injustices.

“Forget the elections,” he said, referring to the May 25 defeat of his New Democracy Conservatives to the major opposition Coalition of the Radical Left (SYRIZA) which won more seats in the European Parliament. The Leftists said they want early national elections but he has rejected it.

He said a tax cut plan would be ready by the middle of autumn but he didn’t specify what it would be. Samaras repeated his insistence the economy, battered by seven years of recession, is on the road to recovery and that the still-crushing 315 billion euro ($430 billion) debt will be sustainable by the next decade

Obviously our PM is expecting us to learn how to live with no food by 2015 (and perhaps to die slowly...). I think he's pro depopulation... and for sure not a bobybuilder but a builderberger  ;D

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« Last Edit: June 16, 2014, 08:50:52 AM by alexinathens »