Greece being on the verge of bankruptcy is not bad news for everyone. The real estate market is drawing the attention of a number of international investors, such as Russian tycoons who are looking for places to park their money awa from Russia’s own crisis so as to protect their holdings. The 50% slash in the price of Greek luxury properties has fueled Russian interest.

Friendly relations between Russia and Greece and the $2.7bln gas pipeline in the works tosupply Greece with Russian gas are encouraging Russian home buyers to Greece. They see Greece as a prime opportunity. Fears of total collapse have not dampened their spirits.