Published on 14 May 2007 at 12:01 pm
Filed in Property News for Greece » Pros and Cons of Property Investment in Greece
Despite the fact that Greece is often in the top three destinations for British holidaymakers, it has a wide choice of locations to consider for property investment purposes and it’s a country at a different point in the market cycle compared to Spain for example and it therefore continues to offer medium to long term potential, Greece is often overlooked by those seeking overseas investment property opportunities.
So, we thought we’d focus on highlighting both the pros and cons of property investment in Greece for you in case you’re seeking a new opportunity and so that you can make your own mind up about whether Greece does actually represent a good market for you to explore as part of your investment portfolio expansion.
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The property buying process in Greece is relatively straightforward if a little expensive. And anyone looking to invest into the Greek property market will benefit from the fact that there are few restrictions placed on foreign ownership of land and property in Greece. The main exceptions to this being real estate close to Greece’s borders with Turkey and near military bases.
Real estate investors interested in buying property in Greece will of course find more English speaking estate agents and lawyers available to assist with the process in the major coastal resorts and on the most popular Greek islands, however wherever a buyer chooses to invest he will likely find English speaking assistance.
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Property investment opportunities in Greece are broadly available countrywide and exist in the residential, commercial, retail and industrial property sectors.
The majority of overseas investment into the Greek real estate market is currently centered on the residential, second and holiday home markets however; but following on from Athens hosting the Olympics in 2004, investors are beginning to take more interest in residential and commercial opportunities in the major Greek cities as well.
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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.
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