Get ready for a 'fire sale' of Greek islands

[KamaAina]

http://www.sfgate.com/technology/businessinsider/article/Get-ready-for-a-fire-sale-of-Greek-islands-6381113.php

The property agent Knight Frank is predicting a "fire sale" of Greek islands over the next few years.

The upmarket property company says in its latest Islands Report: "As the long-term ramifications of Greece's financial bailout play out more fire-sales of Greek islands are expected."

Last year Greece introduced its first tax on real estate under pressure from creditors who wanted it to raise more cash to pay down debts. The tax made owning a private island suddenly unaffordable for some owners — the asset-rich, cash-poor problem....

Knight Frank notes that Greek islands will probably attract "bargain hunters," and foreign investors are already turning to Greece to hunt out good property deals.

[geek tragedy]

1. the plight of private island owners in Greece is probably the least compelling

human drama of this fiasco

[FLPanhandle]

2. Sounds like the wealthy are finally getting some taxes their way.

No real estate taxes before this?

Why did they wait until forced by the EU to do something so simple?

I really don't feel sorry for island owners who now have to pay taxes on their private islands.

[lostnfound]

3. Those of us who read The Shock Doctrine may recognize a pattern here.

I'm thinking Greece should offer up the Acropolis to Disneyworld as an amusement park...or perhaps auction off pieces of it on eBay?
No one is so poor that they don't have resources. Selling pints of blood, or becoming organ donors for example.

[lostnfound]

4. I was joking about selling the Acropolis, but apparently Germany wasn't !!!

http://fortune.com/2015/07/14/greece-may-have-to-sell-islands-ruins-under-bailout-deal/

They apparently have literally pushed for a sale of the Acropolis.