Corfu: A Haven For Property Investors?

The Greek island of Corfu is one of the few places that appears to be immune from the global troubles with the property market remaining strong on the island.

Corfu has long been a popular tourist destination and it’s this tourism draw that leads many tourists to buy properties on the island. The local authorities are keen to ensure that Corfu keeps it’s charm in tact and so the land is not over-developed – single houses in the north must sit on a minimum of a one-acre plot, and Corfu Town, with it’s stunning architecture, is now a protected Unesco world heritage site.

There are plenty of properties to attract all sorts of people. A large villa on the coast will set you back around $10million. At the other end of the scale, there are properties in the countryside with an acre of land for around $250,000. The tourist appeal means that for those not planning to live in the country, there is plenty of rental potential – and the rental prices are remaining steady despite the global worries.

The one downside is the access to the island. During the tourist season through summer, many airlines fly direct providing easy access to most properties. However during the off-peak season, most carriers do not fly to the island direct so overseas property owners may find themselves having to change at Athens before flying in to Corfu – a small price to pay for owning a property in such a beautiful, unspoilt island.

Because the authorities are so intent on ensuring Corfu’s charm is not spoilt by over-development, it is likely that property prices will remain buoyant and continue to rise and that the island will remain popular with the tourists thus ensuring a healthy, consistent rental income. For foreign property investors who are looking for a safe property investment, Corfu is definitely one place to consider.

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