Property Investment in Methoni

After the post concerning Greek Property investment in Sparta, we continue our look at property investment hotspots in the Peloponnese with a hop over the Taygetos Mountains, into Messinia. This corner of the Peloponnese is opening up, as transport and communications improve, and foreign buyers are increasingly looking at property investment in Methoni.

Second Homes and Property Investment in Methoni

For many years, Greek and foreign buyers have sought a second home where they can enjoy the azure sea, natural beauty, and unique sunsets. Many settled in the Northern Peloponnese, only a short journey from Athens, and towns such as Nafplio saw mini-property booms. In the wake of the 2004 Olympics, the Greek government embarked upon an ambitious plan to improve the roads in mainland Greece, concentrating upon the Peloponnese.

As an improved network has spread outwards from Athens, the frontier of property investment has followed in its wake and areas such as the Mani, Kalamata and Neapoli have developed a healthy property market, based upon buyers seeking second homes. As this happened, prices have risen much more quickly than elsewhere in Greece and buyers towards the lower end of the range have been squeezed out.

Property Investment in Methoni - The Final Frontier

Improved Communications and Property Investment in Methoni

Currently, the Greek government is in the process of finishing a national road that joins Tripoli to Kalamata, slashing the journey times to and from Athens. This road is planned to extend beyond the coastal resort and extend into the lower south-eastern corner of Messinia, suddenly bringing the relaxed town of Methoni into play. This beautiful area is a viable second-home location that is not completely severed from civilization by poor quality roads. Add to this the fact that an airport extension is planned at Kalamata, and property investment in Methoni has suddenly become a viable proposition.

Methoni has a population of just under 3000 people and is situated in a beautiful location, with some of the finest beaches in Greece. The town, currently, is extremely quiet and a haven for the occasional tourist wanting to visit the Ancient palace of Nestor, at nearby Pylos. This location offers the opportunity to buy a home with the traditional Greek beaches, sea-view and busy tavernas, whilst making your budget stretch much further than around Kalamata of on the Mani peninsula.

Property Investment in Methoni – A Mixture of Budget and Luxury Properties

As some examples of prices in and around Methoni, you can expect to pay between €150 000 for a traditional Greek stone house in good shape. For a 2000m² building plot, with sea views and permission to build a house with floor space of up to 400m² will set you back about €50 000, a fraction of the cost of land in nearby Kalamata. For a standard two bedroom new build home, prices hover at around €100 000 to €150 000, depending upon location, plot size and whether the home has a swimming pool. These prices represent extremely good value and are set to take a leap once the road from Kalamata is completed.

Certainly, for foreign investors wanting to own a slice of the Greek dream and buy a second home in the sun, property investment in Methoni represents great value.

Property Investment in Methoni Image: FocalPoint – Wikipedia