The recent earthquake in Greece has the world media showing people suffering from it. However, there are individual civil engineers in Greece that refer to the state construction rules as equally strict with the ones in Japan when it comes to earthquake resistance. So why is it that a number of buildings collapse every time?
The answer is not that complicated, as one may expect. The reasons have to do with the year the buildings had been constructed. The Greek Anti Seismic Code was established for the first time in 1959 as a law of the state and became active immediately. In 1984 it was partly reviewed, while in 1992 a new law was passed which replaced the original of 1959. The 1992 law was further updated with the Anti Seismic Code of 2000 which became effective in 2001.
So basically any buildings constructed prior to 1959 were not bound by any formal earthquake resistance standards. As a result these buildings are the ones that suffer great damage every time there is an earthquake. As long as there are no victims, one may say that it is for the best since the Greek state immediately evaluates all buildings after any major event and decides which buildings are no longer suitable. When the Civil Engineers give this verdict these buildings are immediately demolished. In order to prevent the creation of homeless people, the Greek state has pre constructed houses available which are sent to an area in order to replace the houses demolished.
The Greek Anti Seismic Code (EAK 2000) refers to a “special seismic–geologic–geotechnical–structural study” which is conducted for every building prior to construction. The study takes into account the specific area and land formation where the building is to be placed. Its philosophy is to ensure that the building will not collapse from the expected maximum earthquake in the specific area for the lifespan of the building (60 years).
Most recent constructions which have been built according to this regulation have proved that they are quite resistant to damages from seismic activity. Needless to say that Civil Engineers are legally obliged to observe all main construction stages and are liable if the standards defined are not met. Naturally the professionalism and ethics of the Civil Engineers body is extremely high in Greece and as such, ensures the quality of work offered.
This is why the Real Estate market in every part of Greece is confident that the houses offered for sale are quality builds meeting all safety and earthquake resistance regulations.
Andreas Batakis has lived in Greece, Ireland and Cyprus, acquiring a Business Administration Degree in Greece, an International Marketing Diploma and a Bachelor of Science in Human Resource Management in Ireland. He is also a member of the UK based Chartered Institute of Personnel and Development. Andreas has extensive experience in helping people from all over the world to locate a home in Crete and is a founding member of the independent consultancy Talos Properties.
Talos properties was created in order to guide and protect all of you who wish to acquire a property in Crete via offering you a wide range of choices as well as professional advice in property related matters. For more information please access the Talos Properties website at: http://www.talosproperties.com
Εμφάνιση αναρτήσεων με ετικέτα crete property. Εμφάνιση όλων των αναρτήσεων
Εμφάνιση αναρτήσεων με ετικέτα crete property. Εμφάνιση όλων των αναρτήσεων
5/11/2008
Real Estate in Crete: Investment opportunity or potential disaster?
Crete in Greece is considered an upcoming Real Estate hot spot and in the current climate of the world economy it is about time that some hard questions are answered regarding its potential.
Crete and Chania have been extremely popular for the past few years attracting great numbers of interested people from many countries in Europe and mainly from England, Ireland, Norway, Denmark, France, Belgium, Holland, Germany and many more as well as from Russia. The real estate market has given birth to an increasing number of construction companies and even more real estate agencies. Naturally when you are talking to most of these professionals about it they will tell you that buying a home, a villa, an apartment or any type of property in Crete is the best thing that can ever happen to you or maybe even imply that it will make you richer in the long term.
First of all, it is extremely important for you to have organized in your mind your reasoning behind your decision to buy a property abroad.
■ Why do you want to buy a property abroad?
Are you just looking for a holiday home, a retirement villa or investment in real estate? Your criteria will vary widely for any of these categories. If it is a property for personal usage, only then must you take into account your individual needs. But if you are looking at it as an investment, things are different. There are many factors to consider and advice from an independent Real Estate agent or Property Consultant, rather than from a specific builder or constructor, would be of great usage to you.
■ Country and place of interest
Crete and the Chania region is objectively speaking a unique place which combines all types of views (sea, mountain, country side) and amenities (cities, large hospital, international airport, commercial port, etc). But is it the right place for you that you are looking for something to use personally? Make sure that you visit, look around and ensure that you personally, like it.
■ How much do you want to spend?
Everybody has a minimum they would like to pay as well as a maximum. However before you define that you need to do a bit of research through available re sales, new builds, off plan etc so that you can have a realistic idea of what to expect. Having a budget will also help you when you ask people for help. Remember that apart from the selling price of a property there are also the legal and other expenses which you also have to calculate.
Defining the above will be great help to you. But what about the question
How will property value in Crete evolve in the future?
The hard truth is that realistic predictions are not possible in the long term. Many will claim that they have the answer for a five year period or slightly more but if you ask anyone about a ten years period their confidence will waive. Properties are not like some expensive wines.
They do not increase in value over time. So you need to ensure that two things are secured when you are looking for a property: Location and Quality of construction. At the end of the day these are the factors that define the value of properties in any place in the world. The good news is that in Chania and in Crete the location and climate are superb while there are some high standards properties available. Additionally there are qualified real estate agents or property consultants that will offer you professional, fair and independent advice without limiting your options to specific products and that is something that you can use in order to make the best decision for you.
Andreas Batakis has lived in Greece, Ireland and Cyprus, acquiring a Business Administration Degree in Greece, an International Marketing Diploma and a Bachelor of Science in Human Resource Management in Ireland. He is also a member of the UK based Chartered Institute of Personnel and Development. Andreas has extensive experience in helping people from all over the world to locate a home in Crete and is a founding member of the independent consultancy Talos Properties.
Talos properties was created in order to guide and protect all of you who wish to acquire a property in Crete via offering you a wide range of choices as well as professional advice in property related matters. For more information please access the Talos Properties website at: http://www.talosproperties.com
Crete and Chania have been extremely popular for the past few years attracting great numbers of interested people from many countries in Europe and mainly from England, Ireland, Norway, Denmark, France, Belgium, Holland, Germany and many more as well as from Russia. The real estate market has given birth to an increasing number of construction companies and even more real estate agencies. Naturally when you are talking to most of these professionals about it they will tell you that buying a home, a villa, an apartment or any type of property in Crete is the best thing that can ever happen to you or maybe even imply that it will make you richer in the long term.
First of all, it is extremely important for you to have organized in your mind your reasoning behind your decision to buy a property abroad.
■ Why do you want to buy a property abroad?
Are you just looking for a holiday home, a retirement villa or investment in real estate? Your criteria will vary widely for any of these categories. If it is a property for personal usage, only then must you take into account your individual needs. But if you are looking at it as an investment, things are different. There are many factors to consider and advice from an independent Real Estate agent or Property Consultant, rather than from a specific builder or constructor, would be of great usage to you.
■ Country and place of interest
Crete and the Chania region is objectively speaking a unique place which combines all types of views (sea, mountain, country side) and amenities (cities, large hospital, international airport, commercial port, etc). But is it the right place for you that you are looking for something to use personally? Make sure that you visit, look around and ensure that you personally, like it.
■ How much do you want to spend?
Everybody has a minimum they would like to pay as well as a maximum. However before you define that you need to do a bit of research through available re sales, new builds, off plan etc so that you can have a realistic idea of what to expect. Having a budget will also help you when you ask people for help. Remember that apart from the selling price of a property there are also the legal and other expenses which you also have to calculate.
Defining the above will be great help to you. But what about the question
How will property value in Crete evolve in the future?
The hard truth is that realistic predictions are not possible in the long term. Many will claim that they have the answer for a five year period or slightly more but if you ask anyone about a ten years period their confidence will waive. Properties are not like some expensive wines.
They do not increase in value over time. So you need to ensure that two things are secured when you are looking for a property: Location and Quality of construction. At the end of the day these are the factors that define the value of properties in any place in the world. The good news is that in Chania and in Crete the location and climate are superb while there are some high standards properties available. Additionally there are qualified real estate agents or property consultants that will offer you professional, fair and independent advice without limiting your options to specific products and that is something that you can use in order to make the best decision for you.
Andreas Batakis has lived in Greece, Ireland and Cyprus, acquiring a Business Administration Degree in Greece, an International Marketing Diploma and a Bachelor of Science in Human Resource Management in Ireland. He is also a member of the UK based Chartered Institute of Personnel and Development. Andreas has extensive experience in helping people from all over the world to locate a home in Crete and is a founding member of the independent consultancy Talos Properties.
Talos properties was created in order to guide and protect all of you who wish to acquire a property in Crete via offering you a wide range of choices as well as professional advice in property related matters. For more information please access the Talos Properties website at: http://www.talosproperties.com
3/12/2008
Why National Growth is higher in Greece and why investing in properties in Crete is a wise choice.
A line of thought that highlights the importance of the property market and of Greek culture.
At a time of doubt and uncertainty in the world economy, it is encouraging to be presented with positive facts about Europe. In an article in the Greek financial newspaper "Naftemporiki" published on Friday the 15thΒ of February 2008 (pg. 5), the economic growth of all the European Union member states in 2007 is 2,6% when compared with 2006 while Greece had a growth of 3,95%.
Naturally no one can disagree that this growth is decreasing when compared with previous years but it may be considered as leveling off after the explosion of growth which was generated because of the 2004 Olympic Games hosted in Greece. The construction sector was obviously a dynamic element in the growth created during the past five years. The positive factor is that this has evolved in a real estate market for various areas in Greece such as the island of Crete.
It is no secret that builders have become developers because they focused on attracting in Crete, potential home owners from wealthier countries. One of the revelations of the past year is that these companies now realize that Greeks are also looking for properties and realize that the percentage of home owners is quite high when compared with other countries in Europe. By focusing on international clients, companies had forgotten that Β the local culture purchases or builds a house at least once in their lives, for example when one is getting married. Investing in properties for the future generations of a family is equally popular.
A temporary slowing down of the world economy or a sub prime loan generated crisis, can not change the culture of the people in a country, especially when the locals are the Cretans. As a result the purchase of properties is not slowing down exactly because it is also generated from the local market as well as from the international clientele. This means, that the property market has an additional shield of protection and a factor which may convince people to view buying property in Crete as a safe investment.
It may come as a surprise that national or local cultures and beliefs can have an influence in maintaining economic growth in a country. On the other hand, it is important to remember that human resources are behind every economic chart no matter whether it is positive or negative.
Nektaria Kladitis is a Greek Canadian who has lived in Canada, Greece and England, acquiring a Bachelor of Arts, a Masters of Science as well as years of experience in properties overseas. Nektaria is also the creator of the property consultancy - Talos Properties.
Talos properties was created in order to guide and protect all of you who wish to acquire your dream property in Crete, the island that has been loved by Gods and humans alike throughout the centuries.
At a time of doubt and uncertainty in the world economy, it is encouraging to be presented with positive facts about Europe. In an article in the Greek financial newspaper "Naftemporiki" published on Friday the 15thΒ of February 2008 (pg. 5), the economic growth of all the European Union member states in 2007 is 2,6% when compared with 2006 while Greece had a growth of 3,95%.
Naturally no one can disagree that this growth is decreasing when compared with previous years but it may be considered as leveling off after the explosion of growth which was generated because of the 2004 Olympic Games hosted in Greece. The construction sector was obviously a dynamic element in the growth created during the past five years. The positive factor is that this has evolved in a real estate market for various areas in Greece such as the island of Crete.
It is no secret that builders have become developers because they focused on attracting in Crete, potential home owners from wealthier countries. One of the revelations of the past year is that these companies now realize that Greeks are also looking for properties and realize that the percentage of home owners is quite high when compared with other countries in Europe. By focusing on international clients, companies had forgotten that Β the local culture purchases or builds a house at least once in their lives, for example when one is getting married. Investing in properties for the future generations of a family is equally popular.
A temporary slowing down of the world economy or a sub prime loan generated crisis, can not change the culture of the people in a country, especially when the locals are the Cretans. As a result the purchase of properties is not slowing down exactly because it is also generated from the local market as well as from the international clientele. This means, that the property market has an additional shield of protection and a factor which may convince people to view buying property in Crete as a safe investment.
It may come as a surprise that national or local cultures and beliefs can have an influence in maintaining economic growth in a country. On the other hand, it is important to remember that human resources are behind every economic chart no matter whether it is positive or negative.
Nektaria Kladitis is a Greek Canadian who has lived in Canada, Greece and England, acquiring a Bachelor of Arts, a Masters of Science as well as years of experience in properties overseas. Nektaria is also the creator of the property consultancy - Talos Properties.
Talos properties was created in order to guide and protect all of you who wish to acquire your dream property in Crete, the island that has been loved by Gods and humans alike throughout the centuries.
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