What impact does the Olympic Games have on a country?

Before the Athens Olympic Games, the house price rose by 65% in seven years, but after the Olympic Games, it was stable and the Olympic Village fell sharply. In the seven years before the Sydney Olympic Games, the average annual increase of house prices exceeded 10%, and it began to fall in 2004. Before the Atlanta Olympic Games, the price increase was slightly higher than the national average, and it stabilized after the Olympic Games. Since Beijing's successful bid for the Olympic Games in July 20001year, many real estate developers have begun to speculate on the "Olympic concept", and Beijing's housing prices have been rising. At the same time, it is constantly reported that after the 2008 Olympic Games, Beijing's housing prices will fall. Then, what is the trend of housing prices in cities that have hosted the Olympic Games in the last three sessions? In this regard, our reporter conducted an investigation. Athens: Before the Olympic Games, house prices rose, but there was no market. With the opportunity of hosting the Olympic Games in 2004, the real estate price in Athens rose by 65% during the seven years from 1995 to 2002. In the surrounding areas of two newly-built subways and several major Olympic facilities in Athens, the price increase exceeded 1 10%. However, this upward trend has a price but no market. Kalovlia, an expert from a well-known housing construction consulting company in Athens, said in an interview with this reporter before May Day that there are three main reasons for this situation: First, Greece has a low degree of internationalization, less foreign direct investment, few resident foreign institutions and foreign-funded enterprises, and weak demand for real estate market development; Second, Greece has a small population. The total population has been hovering around 1 1 10,000 for more than ten years, and sometimes there has been negative growth. Moreover, the private ownership rate in Greece is as high as 80%, and few people need to buy new houses. Third, Greece has long practiced private ownership of land. Most private properties are handed down from generation to generation within the family, and the development of the real estate market lacks the motivation of domestic demand. However, Karovia told reporters that it is precisely because of the business depression that in the past two years after the Olympic Games, the Greek real estate market as a whole was relatively healthy, with a small bubble and no ups and downs, and house prices were basically stable at the original price. Moreover, the fluctuation of the real estate market has its own regularity, which should be normal at around 10%. Karovia also suggested that journalists visit the Olympic Village. The Olympic Village is located in a no-man's land in the northwest suburb of Athens, and there is no public transportation connection. The original idea of the Greek government was to develop a kind of affordable housing suitable for low-income families without housing in some suburbs with the help of the radiation effect of the Olympic Games. However, due to imperfect supporting facilities, no schools and public transportation, no shopping places, not to mention public entertainment facilities in the community, a large number of sold commercial houses have been idle for a long time, making them uninhabitable, and house prices have fallen sharply. The initial price of the house here was about 2,000 euros per square meter, but it is said that no one is interested if it is reduced to-0/000 euros per square meter. It's almost two years since the Olympic Games ended. The occupancy rate of 3,000 commercial houses in the Olympic Village is less than 5%, and most of them are vacant. There is no one in the community. The reporter drove around 10 for more than a minute before he met a resident who was moving. Sydney: House prices have changed greatly before and after the Olympic Games. 1993 Sydney's successful bid for the 2000 Olympic Games triggered the prosperity of the real estate industry. Crowds of investors keep pushing up house prices, and the annual increase in house prices exceeds 10%. In the following seven or eight years, urban housing prices doubled. Many new immigrants who came to Australia before the early 1990s benefited from the changes in Sydney's real estate market during this period and unconsciously became millionaires. The reporter's friend Xiao Ma is a poor international student, driving a BMW and living in a villa in a few years. However, in the last two years, the brilliance on the pony's face is not as good as before. Although due to inertia, after the 2000 Olympic Games, house prices in Sydney continued to rise until the end of 2003. But at the beginning of 2004, the house price in Sydney finally became a spent force and began to fall. According to the data provided by APM, the Australian housing industry supervision agency, the house price in Sydney has been declining for more than two years. At present, the average house price in Sydney has dropped by 8% compared with the peak in early 2004. Before the May Day holiday, the reporter drove to the Sydney Olympic Village for a ride. He wanted to park his car in the parking lot and walk around, but he even ran to two open-air parking lots, but there was no car in them. The weeds around him are knee-deep in the autumn wind, so he dare not park here. He can only drive around the Olympic Village a few times, feeling only one thing: empty, many beautiful houses, including the athletes' village, are now covered with weeds. Insiders believe that the Olympic effect makes Sydney's real estate potential fully tapped in advance, or it has been "seriously overdrawn", which is bound to go through a period of adjustment. Fortunately, Australia's economic development momentum is good, and the influx of immigrants has not greatly reduced the demand of the real estate market. Experts predict that the Sydney housing market will recover from the second half of this year, and gradually return to the stable and rising situation before the successful Olympic bid. Atlanta: The influx of immigrants has become an important factor in stabilizing housing prices. In order to host the 1996 Olympic Games, the Atlanta municipal government of the United States invested a total of 10 billion dollars in infrastructure renovation. At that time, The New York Times wrote that as the preparations for the Olympic Games drew to a close, every corner of the whole city of Atlanta had changed. Therefore, the Atlanta real estate market is increasingly active. In the five years before the Olympic Games, Atlanta's house price rose by 19%, while the average house price in the United States rose by only 13%. During the period from 1993 to 1995, the housing sales in this city were the best in China, with an average annual sales of 33,000 single-family houses. According to the reporter, after the Olympic Games, many Americans, especially Asian Americans, moved to Atlanta from Los Angeles and other places. Because although the house price there has gone up, it is still low compared with the cities in the northeast or the west coast. With the continuous influx of immigrants, houses in Atlanta can be easily rented out, and the house prices that rose because of the Olympic Games did not fall because of the end of the Games.