Greek Property Investment in Sparta

When investors look at Greek property investment, they normally think of Mykonos Crete or Attica, places with a well-established market that generates quick profits. Certainly, for higher end property investments, the kudos attached to these places is guaranteed to generate interest and has fuelled a development boom. However, the recent economic crisis has caused the market to stagnate, a little. Developers and investors are finding it increasingly difficult to make a profit, especially when the new government is threatening to increase the taxation burden upon high-end property portfolios.

The Peloponnese Property Boom

Because of this market flat lining, investors are looking away from the islands and the commuter belt around Athens and seeking growing markets. One such area is the Peloponnese, which has seen price values shoot up since infrastructural improvements. Wealthy Athenians, seeking second homes and country retreats, have taken advantage and are pushing prices up, with Nafplio and Corinth the major beneficiaries. Tripoli, in beautiful Arcadia, is undergoing heavy investment and prices there are on the rise, making it a great Greek property investment.

Sparta – Untapped Potential

Greek Property Investment Sparta

Many middle and high-end investors are looking further still and have set their sights upon Sparta, a town steeped in history and blessed with some of the most beautiful scenery in Greece. Properties here have long been undervalued and the Spartans are beginning to understand that they are living in a property goldmine, so the town has seen many residential developments over the last decade.

With improved transport links to Athens and to the coast, now is the right time to look for investments in the area, which offers a range of options, from traditional Greek stone houses and renovation projects, to entire apartment blocks and commercial properties.

Nearby Mystras, a UNESCO World Heritage site has long been an area for the wealthy and this trend has spread into the affluent villages of Magoula and Amikles, where prices have risen steeply. These areas offer the opportunity to turn properties around and generate profits by aiming at the luxury Greek property investment market.

Sparta and Low End Greek Property Investments

Even for lower end investors, the villages around Sparta offer some excellent opportunities for first time investors with limited budgets. Land and houses are cheap and are a great option for the long term as infrastructural improvements drive up prices.

As a hotspot for Greek property investment, Sparta is certainly worth looking at and is a long way from saturation, unlike the cities and islands.

Image Courtesy of: Markussep