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New real estate taxes in Greece putting off buyers at top end of market

Posted on 02 August 2010

From Propertywire.com: Greek island properties, long coveted by millionaires and Hollywood stars are being marked down by as much as 45% as the country’s debt crisis has resulted in higher real estate taxes.
A half built villa on Mykonos, an island in the Aegean Sea known for its all beach parties, is being offered by brokers at Athens based Ploumis Sotiropoulos for €2 million, a reduction of €500,000. The same firm has a three bedroom property on Corfu for €750,000, down from an original asking price of €1.4 million……………………………………….Full Article: Source

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