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.
Many people buy properties abroad and hope to recoup some of the cost by letting out the property to holidaymakers. Considering the high price of property in many of the tourist hotspots, buy to let property Greece makes sense when you only occupy the home for a few weeks of the year.
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For many people, wishing to live the dream and spend long summers in Greece, renovation and self-building are excellent ways of making your money go further. Unless you are prepared to live in rural areas, some distance away from the sea, buying property can be expensive. For those with less money to spend, building a holiday home in Greece is a great way of stretching out the budget to own the vacation home of your dreams, without having to compromise on location or size.
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As the world economy struggles along, and economists frantically attempt to uncover the notorious ‘Green Shoots of Recovery,’ the newly installed PASOK government has little time to waste. Prime Minister, George Papandreou, has named his cabinet and proposed a 100 day plan to boost the economy. Lowering some of the barriers to Greek Property investment is a keystone of this call to arms, a promise that may lure back some of the investors currently looking at Eastern Europe and Turkey.
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Talk of the impending General Election dominates the news, fuelling intense debate in every taverna across the land, as the parties lay down their manifestoes for escaping the economic doldrums. Greeks love talking about politics and they love elections even more, although that may be due to the extra holiday given for voting and for recovering from the ordeal.
For many years, the extreme west of Messinia has been looked on with a little amusement and disdain. The rest of the Peloponnese make jokes about the south-west corner of the Peloponnese, naming it bandit country and making certain implications about goats. Personally, I find these allegations to be completely unfounded and the result of traditional inter-regional rivalry.
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Property Investment Peloponnese: Tripolis – One For The Future
For many years, Greece has been a prime destination for Northern Europeans and Americans wanting to live the dream and buy a holiday home in the sun. However, successive Greek governments have instilled measures to deter investors and prevent ‘flipping.’
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The Greek Fires – The Final Coffin Nail For Karamanlis
The Greek Fires – The Final Coffin Nail For Karamanlis
After the notorious fires of two years ago, which led to huge tracts of land laid waste, everybody assumed that the Greek government would have learned their lesson. With the ravaged lands just starting to regenerate, the fires struck again, destroying a huge area and reaching the outskirts of Athens itself. Sadly, the emergency response was disorganised and, once again, the Greek government stands accused of being directionless and rudderless. The perception of Karamanlis as incompetent plagues every political satire show and fills every newspaper op-ed.
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Greek Real Estate and Tourism – A Glimmer of Hope
Despite the doom and gloom surrounding the world economy, we did find some good news that cheered the Greek people up.
Gorgeous George and Real Estate Investments in Greece
In a recent interview with the national newspaper, To Ethnos Tis Kyriakis, George Papandreou unveiled his vision for the future. The leader of the opposition socialist PASOK party laid out some of the changes that his party will make if he is elected as Prime Minister. The ruling New Democracy party possesses a wafer thin majority in parliament, and the increasing unrest amongst the population means that a snap election could be called at any time. Opinion polls indicate that PASOK has edged ahead of ND, and the consensus opinion suggests that Papandreou could be forming the next Greek government before the year is out.
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