Chinese investor snaps up 100 apartments in Exarcheia

Chinese investor snaps up 100 apartments in Exarcheia

The Bohemian central Athens area of Exarcheia is drawing growing investor interest from abroad, with one Chinese investor snapping up 100 apartments in the district, reported Kathimerini newspaper.

Citing unnamed sources, the newspaper reported that the investor then started offering the apartments for short term rental on different electronic platforms and sold them to a foreign institutional investor.

Despite being in the heart of Athens, real estate prices in Exarcheia have remained under pressure due to frequent outbursts of violence taking place between anarchist groups and police in the area. The suburb is located near university campuses and a popular haunt for artists

The same Chinese investor is looking at buying more apartments in the area, reported Kathimerini.

Cheap property prices in Greece brought on by the country's debt crisis are drawing foreign investors from countries such as China and Russia that often target bargain homes and the residency visa Greece offers foreign real estate investors.

greek propoertys prices have falledn sahorlys