Italians 'rushing' to buy homes in Greece, data shows

Scenari Immobilari research group calls it 'Grex-in'

(ANSA) - Milan, July 22 - Italians are purchasing real estate abroad in record numbers thus far in 2015, despite the fact that the domestic market hasn't seen a recovery, said real estate independent research firm Scenari Immobiliari.
    Italians are overwhelmingly looking to buy in Greece, where a recent agreement with creditors saved the European nation from the possibility of a "Grexit," an exit from the EU. "A phenomenon has been triggered that can be defined as a 'Grex-in'," the group said.
    "It's a rush, with Italians leading the way, to buy homes that Greeks in financial difficulty are putting up for sale at lowered prices".
    The group estimates that Italians will purchase more than 50,000 international properties in 2015, a 10% increase on 2014 figures and "a true historical record".
    According to the data, Italians bought more than 24,000 homes abroad in the first half of 2015.


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