NEWS

Stay up to date with the latest market news and interesting articles, as collected by Zoia

Greece Is the Good News Story in Europe

ATHENS — If you’re looking for an optimistic story in Europe, try Greece. Yes, you read that right. Having lost a quarter of its economy in a devastating recession, Greece has turned the corner, its democracy intact, its extremist temptations defeated and its anti-Americanism defunct.

New Greek government bill will cut ENFIA property tax by more than 20%

ATHENS – Keeping his vow, new Prime Minister and New Democracy leader Kyriakos Mitsotakis’ government is planning to cut the hated ENFIA property tax surcharge by 20 percent, a mostly unfulfilled promise by the previous ruling Radical Left SYRIZA.

Greece hails success of 7-year bond issue

Greece's first post-election bond issue fetched 2.5 billion euros on Tuesday, securing a yield of 1.9 percent and a strong interest by long-term investors, according to the Greek national news agency AMNA

New Greek government to cut ENFIA property tax 30% within two years

ATHENS – Capitalizing on the former ruling Radical Left SYRIZA’s failure to abolish the hated ENFIA property tax surcharge – instead of increasing it to meet the demands of the country’s creditors – the New Democracy government said it will be cut 30 percent.

Greece to Cut Controversial Property Tax by 30 Percent Over Two Years

The new Greek government will introduce new legislation before Parliament by the end of July which would reduce the Single Property Tax (ENFIA) by approximately 30 percent for all property owners within a couple of years, starting in 2020.

Europe’s Former Pariah Could Be Headed for New Era: Taking Stock

The elections “will usher in a new era for Greece, and after a decade of distress, Mitsotakis will catapult the country toward full economic normalization,” says Cullen Thompson, chief investment officer at New York-based Bienville Capital, which owns Greek stocks. Markets have started to sense the change but are “vastly underestimating” its full impact, as the cycle turns more virtuous, he says.

Israeli fund buys real estate in Athens

A powerful "player" of the domestic real estate market has evolved into the Israeli interests of Zoia Fund by Mr. Ruben Shagy as he currently manages about 19 buildings in various parts of Athens, targeting either the housing market or office market. The investment fund is one of the largest that has been placed in the Greek market in recent years, as it manages around 20,000 properties worth more than 2.2 billion euros internationally. Zoia has a presence in six countries (USA, Spain, with emphasis on Barcelona, ​​Poland, Germany, Israel and Greece).

Greek prime office prices up 7.0% last year

ATHENS, June 6 (Reuters) - Greek prime office prices rose 7% last year compared to 2017 as the national economic recovery gained pace, the central bank said on Thursday, with the increase more pronounced in the capital Athens.

Greece's economy is recovering from a multi-year deep recession which shrank it by a quarter, driving a rebound in residential and commercial real estate prices which suffered a heavy hit during the country's debt crisis.