Investing in property in Greece

In the 1990s, the Greek government relaxed it’s laws regarding foreign property investment meaning the market opened up and Greece became a good option for foreign investment and development.

Overall, new properties tend to be slightly smaller than other Mediterranean countries and also more expensive, which means returns on Greek properties may not be as high as other countries. However, if you choose wisely, there is still money to be made in the market. Rhodes is an ever popular tourist island and a new-build two-bedroom apartment will cost in the region of £65,000. If you prefer somewhere slightly more rural, a fully restored property will be around £100,000.

Athens is also a good bet as it has good all-year rental potential due to it’s location. It is well served by many airlines and has a thriving tourist trade. Since 2004 when it hosted the Olympic Games. Athens property prices have risen by 10%. Although it is unlikely that this steep trend will continue, it is believed that prices will still increase albeit at a slower rate. A one-bedroomed apartment in the Capital city is around £75,000.

Another hot-spot is Crete. Again, this has many tourists thanks to the stunning weather. For £30,000 you can buy a two-bedroomed apartment and should benefit from good rental income most of the year.

Currently, house prices in Greece are growing at a slow and steady rate, showing few signs that they will follow other European country’s massive house price inflation. This means that proeprty is still relatively cheap and is set to increase steadily over the medium to long term, making Greece a superb prospect for investment – particularly for tourist rental income.

If you like to see a list of properties for sale throughout Greece, please click here
If you would like to read more about Greece, we suggest buying one of the two following books:

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