| At a time of doubt and uncertainty in the world | | | | compared with other countries in Europe. By |
| economy, it is encouraging to be presented with | | | | focusing on international clients, companies had |
| positive facts about Europe. In an article in the | | | | forgotten that the local culture purchases or builds |
| Greek financial newspaper "Naftemporiki" published | | | | a house at least once in their lives, for example |
| on Friday the 15th of February 2008 (pg. 5), the | | | | when one is getting married. Investing in |
| economic growth of all the European Union | | | | properties for the future generations of a family |
| member states in 2007 is 2,6% when compared | | | | is equally popular. |
| with 2006 while Greece had a growth of 3,95%. | | | | A temporary slowing down of the world |
| Naturally no one can disagree that this growth is | | | | economy or a sub prime loan generated crisis, can |
| decreasing when compared with previous years | | | | not change the culture of the people in a country, |
| but it may be considered as leveling off after the | | | | especially when the locals are the Cretans. As a |
| explosion of growth which was generated | | | | result the purchase of properties is not slowing |
| because of the 2004 Olympic Games hosted in | | | | down exactly because it is also generated from |
| Greece. The construction sector was obviously a | | | | the local market as well as from the international |
| dynamic element in the growth created during the | | | | clientele. This means, that the property market |
| past five years. The positive factor is that this | | | | has an additional shield of protection and a factor |
| has evolved in a real estate market for various | | | | which may convince people to view buying |
| areas in Greece such as the island of Crete. | | | | property in Crete as a safe investment. |
| It is no secret that builders have become | | | | It may come as a surprise that national or local |
| developers because they focused on attracting in | | | | cultures and beliefs can have an influence in |
| Crete, potential home owners from wealthier | | | | maintaining economic growth in a country. On the |
| countries. One of the revelations of the past year | | | | other hand, it is important to remember that |
| is that these companies now realize that Greeks | | | | human resources are behind every economic |
| are also looking for properties and realize that the | | | | chart no matter whether it is positive or negative. |
| percentage of home owners is quite high when | | | | |