GREEKS bearing gifts of millions of pounds have pulled out of their own country’s troubled economy to invest in high-end London property and, according to estate agents, they’ve even managed to knock oil-rich Arabs off the top of the housing ladder.
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“Normally, you’ll get a Greek inquiring about property every two to three months. Recently, we’ve had 15 a week,” said Koutsoyiannakis, revealing a 60-fold increase in interest.
“It’s no longer the Arabs but the Greeks who are rocking up wanting to buy, well, anything really,” Panos Koutsoyiannakis, of estate agent Fraser & Co., told The Guardian.
“Some even laugh about taking the money out because of the crisis.”
When Koutsoyiannakis says “anything”, he means anything at the tipper most top of the market, with areas like Mayfair and Marylebone favoured.
Meanwhile, back in Greece, those without piles of spare cash to put into foreign property have seen their incomes slashed by an austerity package designed by their own government, the EU and the IMF.
