One third of land in debt-ridden greece is up for sale

One third of all land in Greece is up for sale as the debt-crippled country tries to raise money from state assets, a state official reportedly said Wednesday - but little of it will help those wanting to snap up a dream home in the sunshine.

Greek authorities are touting billions of euros worth of government-owned land in order to finance international bailout loans totaling $227 billion over the next few years.

However, most of the sites are in industrial zones or tied to facilities such as airports, highways and energy firms, according to a report by Turkey-based news Web site Hurriyet Daily News.
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The report said Greece is targeting its immediate neighbor, Turkey, as potentially a large source of investment.

"One third of Greek land is on sale," the report quoted Panos Protopsaltis, head of the Privatization Program of the Hellenic Republic Asset Development Fund, as saying.

Source: MSNBC