The deteriorating economic climate in Greece casts grave uncertainty to many global citizens, governments and businesses.Greece crisis could push the world economy into uncharted waters.
In early June 2008, the unemployment rate in Greece was 7.9%. Since then, unemployment has grown to 25.7%, well above the aggregate European Union unemployment rate of 9.8%.
To better understand how businesses are responding to the current economic and political environment in Greece, Keith Knutsson sheds insight stating:
“We have found that uncertainty leads to investment opportunities.”
“Integrale Advisors is cautiously optimistic in the Greek lodging sector and is currently evaluating opportunities in the Greek market with local partners. Greece remains an unparalleled tourist destination.” stated Keith Knutsson.
Real estate prices across Greece have been falling creating many investment opportunities (see figure 1).
In the past 26 months investors has purchased 1.58 billion dollars of properties. Among Integrale advisors, some international firms exploiting the investment opportunities in Greece include Hines, Fairfax and Invel.