Property prices in Greece

Property prices have fallen in many areas as much as 40%,however on some of the very popular islands prices for villas are up.Their per metre price can be 3 or 4 thousand.Athens is keeping its prices high still in the very sort after areas but elsewhere they are very down,which of course is good for buyers at the moment,not good for sellers especially anyone in negative equity.Greece actually now doesnt have a property market as such which is insane because a large percentage of a country"s GDP stems from such a market,there is only a dribble of building going on,that of course may be seen as a good thing so as to protect an already over developed landscape and the great loss and abuse for financial gain of rural areas,particularly in tourist hot-spots such as Santorini where the mayor is at screaming point over continued building development which the government is allowing even without  licenses.Anyone buying a property must remember that should they wish to sell it after a few years so as to return home perhaps may find themselves stuck with it and its decreased price,as we  have not reached the bottom yet.Not until 2050 will prices rise again and return to precrisis levels,and thats..maybe..Of course many bargains are to be found now and anyone looking for a small sweet house somewhere lovely where they can live quietly and relax even for part of the year is an obtainable dream,the property tax will not be too high on an older property but as I have said before on many occasions,be aware of damage should a large earthquake happen as experts say they are due in the next year or so.  Rents are certainly down now and one can find a two bed flat for 2.50 per month in suburbs away from the center of Athens.The owner pays the property tax.I am in Egaleo,seen as a very working class area,near two metros,with a park,lots of shops.I actually wouldnt want live in the posh suburbs as they seem to me to be unfriendly,all closed in behind big gates,no corner shops that are open until real late,less traffic here and pollution,no trouble either.Im into Monasteraki in ten minutes with metro,ten minutes to my house on foot.I would just add that I believe this government is now putting the final nails in the property market"s coffin as they intend to add another tax on top of the tax the seller pays already,the tax to the buyer was actually reduced(transfer tax)a few years ago. They now demand as from Jan that all owners of property must obtain a property certificate every five years which they must pay a licensed Mechanic for,the price being 400 euro,countdown of the five years starts in January,so God help the unemployed and the ten euro per day workers as well as those sitting with only candles after being cut off from electricity.