Any worries for the future ??

[The Grocer]

Originally Posted by scoobie

Not just Greeks removing their money, we are too. Just not willing to risk it at this moment in time.

Very wise. keep as little in Greek banks as possible

[samrvy]

Originally Posted by The Grocer

The answer is certainly dependent on if you have a mortgage on the property in Greece or not.
If Greece were to revert to the Drachma and you have a mortgage in Euro's, it clearly is bad news if your income was earned in Greece; however if the mortgage was with a Greek Bank and they converted the outstanding amount to Drachma, then of course provided your income is in GBP from the UK things might not be too bad, as I suspect the pound / drachma exchange rate will be extremely favourable for us Brits.

However property prices have fallen and the market is totally flat. Now is definitely not the time to sell. On a brighter note if Greece does leave the Euro then with a competitive exchange rate tourism will blossom and holiday property rentals will increase (you could rent out).

The house tax system is again in disarray with yet another change to property tax due. The average for last year was around 4 euros per sq.m paid through your electric bill. It was to be continued, but this is a little up in the air at present as there is talk on a direct property tax paid separately.

The main concern is of the Government that comes into power. A leftist government might be OK, but any communistic government is likely to put Europeans off visiting Greece.

I am not sure where your property is but do not believe all you see on the UK News. Yes Athens might be worth avoiding, but certainly down here on the Peloponnese things are as quiet as normal, yes people are not so well off, and villagers have taken up that bit more growing their own veg, but its not all bad.

I am unsure if this addresses your question. However as I am off to mainland Europe for the next 3 months tomorrow my access to internet will be a bit more restrictive so forgive me if I do not respond so quickly......

Thanks Grocer. Yes this puts my mind at ease a little. Enjoy your mainland visit.