Tuesday, June 19, 2012

Greek vote is good news for investors

The Greek election results have come as a huge relief for property buyers and investors, although prices are expected to remain relatively inexpensive by global standards.

The result gave everyone concerned with European economic stability cause for a collective sigh of relief. The modern day Trojan Horse which is now threatening Greece, Spain and even Italy is filled with sovereign debt, and the big news is that for now at least, it has been stopped in its tracks by the results of the latest round of Greek elections.

So what does this mean for property investors considering investment in European property? What can we expect from what on the surface appears to be good news?

The right party won – just, however the competition was as close a run as it possibly could be and this doesn't bode well for those expecting a stock market rally on the back of it.

Jon Ainge, Director of ipsbmv.com, said: "You don't need to be an expert in Greek politics to realise that this leaves the winning party with a job on its hands to find a partner that will give the country a stable government, however at least there is a chance that we may be at the beginning of the end of the crisis."

According to ipsbmv.com, there is so much riding on Greece staying in the Euro, it is unthinkable that they will leave anytime soon. The big problem is that if they do - Italy and Spain will follow, as they will likely take the view that paying their debts when another country is allowed to write theirs off is less than fair.

Ainge added that if you are a property investor looking beyond the scary stories of Greece leaving the Euro - now might be an excellent time to invest in property.

It is likely that the Greek crisis will continue playing itself out in the next 12 months, and this will keep the value of the Euro low against the British pound and other global currencies as the uncertainty continues. 

View the original article here

Source From Property Guru

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