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September 27, 2012

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Russians Buying Up Northern Aegean

The waterfront of Thessaloniki..by Eleni
The waterfront of Thessaloniki..by Eleni (Photo credit: elenibass Here from time to time:happytobewithyou)

Second homes, hotels, land and football clubs… Greece, and particularly the region of Thessaloniki, is being swept by a tide of Russian money. A financial windfall which could have an impact on the privatisation of the country’s infrastructure.

Ultra-nationalist Vladimir Zhirinovsky should be pleased. His prophecy, announced shortly after the collapse of the Soviet bloc, that the day when “Russians would wash their boots in warm seas” was near at hand, appears to be coming true. But this Tsarist dream of an empire that extends from the Mediterranean to the Indian ocean will not be realised by force of arms, but rather by tourist flows.

With his offer of a range of luxury holiday homes on the Kassandra Peninsula [southeast of Thessaloniki], entrepreneur Sergei Fentorov, a member of the Moscow Chamber of Commerce and Industry and a former nuclear submarine lieutenant, is already part of this dream.

And he is not alone. Just opposite, on the Sithonia Peninsula, the villa nestling amid four hectares of pine covered hills with a remarkable view on Mount Athos apparently belongs to Prosecutor General Yury Chaika, Russia’s second most powerful man after Vladimir Putin.

read more - presseurop


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