According to the Greek real estate agency (HAR) there are over 25,000 villas and sea front homes put for sale during this past year. The only problem - no buyers.

This epidemic of selling has been seen even among Greek businessmen, actors and TV personalities. Many of Greece's affluent citizens owned vast real estate properties across the country which cost a lot to maintain. However the biggest reason for the sale is the new tax code which calculates the property tax based on location, size and value. This means the very wealthy will be slapped with large tax fees.

It has become clear Greece's financial crisis not just changed life for ordinary citizens, but it affected the ones who felt 'untouchable' in the past.

Even foreign real estate owners have put up their homes for sale, believinig this is the best time to get some return on their investment awaiting a real estate bubble.

Despite very attractive property prices and the willingness of owners to negotiate, there are very few buyers, says HAR.