The Greek real estate market may be described as imperfect and not particularly transparent. Nevertheless, the property market's contribution to the economy of Greece is quite significant, representing more than 10% of the GDP. This period is very critical for the Greek economy as a whole and all sectors suffer severe pressure as a result of the austerity measures. There are very few property transactions and most potential buyers and investors alike anticipate a significant drop of property values. As a result market is frozen and inactive and the situation becomes more complex due to the lack of liquidity and the severe financial constraints.