Greece is currently building a massive property portfolio totaling around $688M to offer investors at the end of 2014, including city buildings, homes, development land and more.
The Hellenic Republic Asset Development Fund has already completed nearly 5 billion in deals (1.8 billion euro of which was real estate). Greece is also selling ports and airports to comply with the 240-euro bailout from the IMF and Europe (it is necessary that the country raise 11 billion euros by 2016). According to Bloomberg, the Athens Stock Exchange has jumped by 175 percent since it’s record 22-year low in June of 2012.
Photos courtesy of sites.psu.edu, worldpropertychannel.com
