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Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.

He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.

In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.

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The biggest disadvantage of sea travel was the ever increasing gap between the coastal and internal areas of the country. While the port cities (Athens, Thessaloniki and Piraeus) flourished, supported by trade, the inner rural parts of the country remained archaic. It is pretty much the same in today China where modern cities like Shanghai coexixt with the poorer western areas of the country.

After Greece became an European Union member at the beginning of the 80's many things changed there and especially noticeable was the development of rural and other non-coastal areas. So if you can find a house in the capital of Athens for $1500 per sq.meter (1 sq.meter=10 sq.feet), the same type of house will cost you between $1000 and $1300 per sq.meter in the second city of Thessaloniki and between $800 and $1000 per sq.meter in the other big towns. The same price correlation can be found for other types of properties. Luxurious residential properties in Athens can cost up to $5000 per sq.meter (sometimes even more); offices can be found for $2000-$3000 depending on the location and development lots are priced at $30 per sq.meter (going up to $100 in the more prestigious areas).

So far Greece has enjoyed cheaper than the average European Union real estate prices, but this can change with the accomplishment of the ambitious public works projects and the building of infrastructure transport routes linking the Western Europe with the Middle East, Caucasus and Central Asia. The majority of this project is the East-West transport corridor, linking the northernmost Greek port of Igoumenitsa (at the Adriatic Sea) via Thessaloniki, the Greek province of Macedonia and Thrace to the frontier with Turkey. The project called the Egnatia highway not only will cut the driving time for the international trucks on the East-West route by some 10-12 hours but also will give further stimulus to economic development of the most backward regions in the northern parts of the country.

Another way of stimulating the internal Greek regions is the so called eco-tourism where the tourists pass their vacation not at the sea coast with its crowded beaches but in the small picturesque villages with magnificent mountain views, eating traditional meals and meditating about the beauty of life. So far Greece has been known worldwide for its shores and islands, but the government now attempts to stimulate eco-tourism that by the way will bring new life to the desolate rural areas. In 1999 the tourist industry in Greece contributed to some 15 percent of the gross domestic product which meant more than $8bn in foreign exchange. Now the goal for the next decade is to double or even to triple these figures by promoting year-round tourism and providing more facilities for high-spending visitors. So far more than a half of all foreign tourists stayed on half a dozen resort islands - Crete, Rhodes, Cos, Corfu, Mykonos and Santorini. The government policy goal is to change this picture and to bring the majority of the foreigners to see the ancient monuments and to pass their vacations in the interior parts of the country.

A big chance for promoting the tourist business in Greece will come from the Summer Olympic Games in 2004 which will take place in Athens. This coming event has already funneled big investments in the city tourist industry. It is estimated that by 2004 the number of hotel beds in the capital will rise from 70,000 to 85,000.

Compared to most of West European countries, Greek property laws are more conservative regarding foreign real estate ownership. The properties near the land borders and islands may not be bought by foreigners. There are many cases where foreigners purchased such properties using Greek lawyers who have agreed to hold the property and to transfer the expected benefits from rents to their real owner. When such a property increased in value, the Greek Courts (approached by Greek nationals) retroactively declared that the foreign purchases were void, leaving all invested and improvement fundings in Greece.

You may say that this is a dirty trick, but don't forget that Greece is a Balkan country, after all, and that the dirty tricks are the regional specialty. Another trap of this sort comes when you have legally purchased a property in the country and want to sell it. Generally speaking, you can sell it, but the money in most cases will remain in Greece, blocked in a special bank account to assure that the funds will be used only within the country. The same is true if you have purchased a property for rental. The income from rental property will be deposited to a blocked account. There is only one case in which you can take your money out of the country - to find another foreigner from your country of origin who is will replace you as an owner. So if you are an American and want to sell your residence in Athens, you have to find another American (not an Englishman or Canadian), who wants to buy it.

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