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The second version of a publication by PYTHEAS Investors Service with the collaboration of Ktimatoemporiki Crete of a market overview on the real estate industry of Crete, with title, “Buying real property in the Greek island of Crete”.

Due to the recent global financial crisis and the subsequent financial crisis in Greece the real estate market contracted. Greece is attracting a number of corporate and individual investors from around the globe recognizing the opportunity created. The commitment of the Greek government to encourage foreign direct investments and the higher potential growth in terms of returns on investment of property in Greece in the medium run compared to other countries in Europe makes Crete one of the most interesting real estate target markets in the country.

Additionally, the hard hit by the recession private individuals seek for affordable living, unspoiled environment, maximum of sunshine, satisfactory infrastructure, a cosmopolitan location but at the same time with character and tradition. And Crete undoubtedly falls within these parameters…

Proof of PYTHEAS’ world renowned market research capabilities, you will find this report thorough and complete, whether you are a permanent or seasonal home seeker, an individual or a corporate investor. While addressing all issues that an investor/individual should be aware of, this overview touches also topics such as Crete’s physiognomy, history, culture and demography.

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Did you know?

that annually, the amount of garbage that is dumped in the world’s oceans is three times the weight of fish that is caught from the oceans?

that every year, Americans buy more than 100 million cell phones, yet fewer than 20% of old cell phones are recycled and that recycling just a million cell phones reduces greenhouse gas emissions equal to removing 1,368 cars off the road for a full year?

that in a lifetime the average European or North American will discard more than 600 times his or her adult weight in garbage and about a ton of trash per person per year?

that 1 recycled tin would save enough energy to power a television for 3 hours; 1 recycled glass bottle would save enough energy to power a computer for 25 minutes; 1 recycled plastic bottle would save enough energy to power a 60-watt light bulb for 3 hours?

that recycling 1 ton of paper saves 17 mature trees, 7,000 gallons of water, 3 cubic yards of landfill space, 2 barrels of oil, and 4000 kilowatt hours of electricity; this is enough energy to power the average North American home for 5 months?

that Pytheas has presence in 41 countries?

that Pytheas the ancient Greek explorer, mathematician, astronomer and navigator must have travelled to the American continent at the time of Alexander the Great?

that of all the restaurants that are opened, 90% of them fail in the first year and of the remaining ones that survive, 90% of those fail in the second year?

that Confucius about 2,500 years ago argued that the government should not compete for profit with the people, as it would only result to the exploitation of the population?

that the Boeotian Hesiod about 3000 years ago theorized on the entrepreneurship typical of the market (an early laissez-faire), identifying the effects of government debasement of the coinage, which causes a decrease in its purchasing power (think Adam Smith, Keynes and post Keynes), arguing about the importance of competition and the importance of justice and the law in order to foster order and harmony in society?

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