Category: Greece

At a glance: Buying property in Greece

The Greek housing market is all at sea, according to TheMoveChannel.com’s latest At a Glance report.

The infographic, which depicts the activity on the portal over the last year, shows that interest in mainland property is markedly low compared to homes on the islands, which accounted for an overwhelming 64.97 per cent of all enquiries.

The Peloponnese was the most popular region on solid ground, generating 15.49 per cent of enquiries, while Attica received some attention thanks to property in Athens, but northern areas, such as Central Macedonia, received far fewer enquiries. Some, such as West Macedonia, saw no enquiries whatsoever – indicative of a lack of sellers as much as buyer demand.

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.

New land registry process for Greece

Foreign property investors in Greece should be aware of a new programme of registering real estate in Greece which began at the start of the week.

Greece is currently just one of two countries in Europe that does not have a land register and Public Works and Environment Minister Giorgos Souglias has announced a new process for listing millions of unregistered properties around Greece. The new process is expected to see around three million Greeks declaring their properties for inclusion in the first comprehensive land register compiled for the country.

Greece: A guide to the property buying process

Greece is a popular tourist and investor destination, however the is surprisingly still a lot of potential in the property market. Membership of the EU has helped to strengthen the economy and they now have a foreign policy that is geared towards the acceptance of outside investors. The country’s tourist trade is booming – around 15% of their economy is tied in to the tourist trade – and this makes it a good opportunity for foreign property investors.

Crete Gems

Crete is an island with a virtual split. The west of the island is going for the tourists with large developments already underway. The east of the island is less wealthy and is looking at an alternative approach.

East Crete is a lot more peaceful with foreign buyers in the area buying because of the culture – it’s a place where foreigners learn the language and customs and enjoy the wildness of their surroundings. In turn, the locals are welcoming the influx of foreign buyers who are helping to keep the tiny villages alive. Thousands of homes in the region have been left to Mother Nature as many parents have sold their houses to help fund their childrens’ education or careers.

The new trend in Greek Malls

Athens opened it’s first large shopping mall just 18 months ago and with it’s opening, the floodgates opened with many other real estate developers looking at opening similar projects with 10 already in the pipeline. Experts estimate that these new mallls will add over 380,000 square metres of retail space by 2010 however they are confident that this will not over-saturate the market.

When it comes to amount of shopping space per resident, Greece ranks as one of the lowest countries with just 50 square metres of retail space for every 1,000 people in 2006. The EU average is more than 150 square metres for every 1,000 people.

Own a piece of history in Greece

Greece has a rich and diverse history. From ancient times through to modern, people have settled in Greece for it’s amazing weather, stretches of coastline, and mix of country and city life. As the well-known piece of folk-lore goes, “The Gods could have settled anywhere, but they chose Greece.” Owning a piece of Greece real estate can ensure you own not just a piece of history, but also an asset which should make steady and consistent gains whilst also providing a holiday haven.

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