Sunday, February 25, 2007
Build it Up
For the past seven years, Athens is being rebuilt. No, they don't demolish the monstrous buildings in order to make new modern ones. They tear down beautiful old houses and villas in areas that were countryside but now they' re totally urban in order to build blocks of flats. The land now costs more that the old buildings themselves so the development companies take action. Of course, people who move into these new flats are borrowing the money from the banks. Millions of homes are already built in the greater Athens area and almost all of them are on heavy mortgage deals for 30 years or more.