Greece: The Property Investor’s Guide

The incredible choice of real estate available in Greece for property investors and second homers is one of the main attractions of the entire Greek property sector.  Add to this the fact that villas and apartments in Greece remain highly competitively priced and the Greek economy has room to improve and you have all the ingredients for a popular and expanding real estate sector.

Quite simply there’s a property opportunity for every investor in Greece from city slick buy to let accommodation to seaside tourist rental housing units - and Greece even has an emerging market within an emerging market for those who prefer bleeding edge property investment for maximum profit potential.

Since 1991 when Greece relaxed its laws and rules relating to the foreign freehold ownership of property, international investor interest in the country has blossomed.  And in the past five years the real estate market in Greece has really taken off and at the same time the Hellenic Republic has seen record numbers of tourists and a boosting of its economy as a result of the foreign investments being made into tourism and property.

While economically the country returns strong growth figures annually, the Greek authorities are aware that they have to embark upon extensive restructuring and privatization exercises to meet the EU’s Growth and Stability Pact; this means that over the medium term the country will attract greater inward investment as a result of its economic reformatory efforts and it is predicted that this investment will reduce unemployment, push up domestic purchasing power and result in a more affluent society and a more desirable country in which to live.

Investors already committed to the property market in Greece are well aware of these facts and the Athens Olympics Effect can practically demonstrate the facts for anyone who remains skeptical about the range of growth and development available across Greece today…

Following on from the 2004 Olympic Games which were hosted in Athens, the city received a significant boost in real estate revenue.  The city of Athens received considerable inward investment into infrastructure, public amenities, facilities and services and this investment saw an increase in property prices but also in the demand for quality apartment accommodation in the city to buy and to let.  Those who have invested in Athens real estate have profited from the increase in demand for rental accommodation, from the increase in rental yields achievable, from the increase in the underlying value of the property and from the increase in buyers interested in resale housing in Athens.

However, despite the obvious attraction and advantages offered by the main Greek cities the majority of second homers and property investors are ignoring the main city markets at the moment and heading straight to the Greek Islands or the mainland coastal resorts where apartment and villa development is increasing at a rate of knots. 

And when you consider that Greece is regarded as the birthplace of democracy, the cradle of Western Civilization and it is undeniably one of the most attractive and desirable places in the world in which to holiday or live it is not hard to fathom why property in the most popular parts of Greece is currently so heavily in demand. 

There is however an added bonus that is increasing investor interest in properties on the Greek Islands and in resorts on the Greek Mediterranean, Aegean and Ionian Sea coasts.  Basically property prices across Greece are far lower than those in either Spain or Italy and it is this added value that has seen overseas buyers increasingly interested in the Greek property sector.  The profits they are making from holiday rental yields and from the growth in the underlying value of their property are steadily inching up.

Investors more interested in emerging markets and the greater potential profits to be made in them won’t be disappointed by Greece either.  Greece is considered to be an emerging property market in itself as it enjoys steadily increasing international inward investment into its real estate sector - but the real emerging market in Greece is The Peloponnese.  This ancient, mythical and incredibly beautiful peninsula in southern Greece is technically an island but once formed part of the Greek mainland and today it is home to an emerging and developing property sector with home buyers attracted to the climate, history, pretty shoreline, mountains and overall picturesque nature of the island and property investors attracted to the greatest potential profit margins possible in Greece.

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Complete listing of all current property reports for region: Europe:- Greece

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