Thursday, March 31, 2011
Greek land – fire sales?
Greece May Need to Break Taboo on Selling Land Outright to Slash Its Debt
Before you feel too smug, Cameron still plans to sell "a few forests". Wonder who will get them on the cheap?
Posted by alan @ 07:38 PM (1078 views)
11 thoughts on “Greek land – fire sales?”
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Crunchy says:
This is what it’s really all about. History really does repeat itself.
Don’t cry for me Argentina and the rest of the bankers victims.
The more I think about banksters the less we need of them.
This is the ugly face of treasonous globalism. Hang em high.
taffee says:
even countries are slaves to debt
personally I can see someone just saying up yours soon
what a mess the world economies are in….some believe its orchestrated by the rich….who am I to disagree
alan says:
Going bust is good for the rich… They can pick up property, jewels and companies for a few cents on the dollar (or the Euro).
drewster says:
“Dolphin, which has bought 1,650 hectares (4,077 acres) of land in Greece for development since 2006, won’t purchase any land from the state unless it’s a freehold, Kambourides said.”
That’s just posturing. There’s practically no difference in cost between a property with a 50 year lease and a freehold property. If Mr Kambourides won’t buy, plenty of other developers will do. Nevertheless, the government could simply levy a decent sized Land Value Tax on the property instead. That would keep the land income in the public domain, while still allowing the developer and the tour operator to make a reasonable profit.
mark says:
i will give you 1 euro for corfu
tom101 says:
Thanks I’ll take that euro, keys are at the airport.
Scummy “tennants” come with the island though and they need feeding.
Crunchy says:
4. mark said…”i will give you 1 euro for corfu”
~ I’m sure that they would say Fucorfu.
mdmick says:
Spain will love this little wheeze. Sell the developer the land and then, say, 5 years later, a letter will arrive stating how they are contravening local mayoral laws and have to knock down their constructions.
I’m just being mean. Spain would never do something like that.
general congreve says:
@2 – If only we could get on with everything going bust instead of this inflationary policy bullsh1t! Then it’d be cheap property all round and a landlord’s life for me (preferably with former BTL-scum tenants who have gone broke and have no option but to rent from me) 🙂
Crunchy says:
6. mdmick
The Spanish like bulldozing as much as they like bullfighting.
mark wadsworth says:
What Drewster says, the best thing they can do is sell the freeholds for €1 subject to full LVT. But corruption being what it is down there, no doubt the LVT will be adjusted down to nil over time, so as a decent second best, they could auction off long leases (twenty years to fifty years, depending what it’s suitable for).