Your comments: The apartments of ANL, the Greek crisis and the tips for investment

Today I will not talk too much. I will simply present to you some of the opinions of yours, as you sent emails with your opinions last week. To some of them I will reply with an extended post during the following days, to some others I will just say that as I appreciate people who agree with me, I also respect and appreciate the ones who disagree. Most of all, I thank you for our communication and I am open to more proposals so as to increase this.

For my post: Poor Greece – Rich Greece and Romania follows: Poor Greece – Rich Greeks and Romania follows…

Lucian wrote: "Thank you"

"I read a lot of articles on financial/ economical themes,… being in USA I read the American newspapers a lot… on one side you have the clearest and concise article/blog, especially form a person of Greek nationality who understands the real issue"first hand". Congratulations… Thank You!!!"

Mircea O. wrote: "The world does not go the way we would like it to"

"Interesting, instructive this material of yours! Written from the heart! Your Greek heart and your expert heart!

A Greeks' heart is a total mystery for me … maybe a Russian one to be its equal into complexity in Europe… A volcano. Enough immaturity beyond the thin cover of civilization…

What, the Romanians are not much better either? It may be. The world does not go the way we would like it to, the ones who wish for Supermen and wonder – people…"

For my post: Tips about buying new apartments: How to deal with the banks and their hidden costs

Marian wrote: "The banks have incredible added costs compared to Euribor"

"As long as the loans with Prima Casa interest (kind of the smallest at this moment in Romania) are 5%, variable, how could it be possible to access a loan of 5 – 5,5% fixed interest? Yes it will be nice to be possible, but unfortunately the banks have an

incredible added costs compared to EURIBOR."

For my post: Selling ANL apartments at low prices: American and English markets tell us what will happen

Felix wrote: "And what is the problem if a few developers go bankrupt?

"And what is the problem if a few developers go bankrupt? Is the 1.200 euros/ sq.m. price real?Give up to the 30 – 50 % ranges and can survive. If the State can put up for sale properties what is the problem? Whoever wants ANL let him buy, whoever wants high comfort and area let him buy. But the ones who have law income have the right to have a home too."

Dan P. wrote: "I do not consider the ANL blocks are sold for too small prices"

"Hello, as far as I am concerned, none of the results predicted by you appear to be "bad". I would only like to modify the following idea (according to my opinion): "Many other developers will avoid developing new projects before this ANL apartment offer to be absorbed by the market. This means they will postpone the necessary investments so much needed by the country today."

I consider the only developers that will avoid developing new investments are the unserious ones and the ones that expect a profit range bigger than 20 – 25%. I suppose you also know what it takes to build a block. Indeed the ANL blocks have inferior furnishings, but their structure is good. The difference between inferior furnishings and medium one is of about 100 euros / sq.m. For this reason, I do not consider the ANL blocks are sold for too small prices, they are sold for the construction prices (indeed ANL prices do not include the costs of the land and the developer's profit).

I suppose you know also that the lands the ANL blocks are build on (I am referring here to the ones in Bucharest)do not worth more than 250 euros / sq.m. Going back to the issue of investments, I do not think that if 10.000 apartments will be built the country will be revitalized. The investments the country needs are not the ones in the residential sector. Thank you"