Why invest in Greek property?
Considerable scope for growth remains in the Greek real estate market as prices are currently fairly low and UK buyers can get comparatively good value for money.
The country offers a relaxed way of life and a pleasant climate year-round, as well as an attractive culture in which people typically eat out and then chat in taverns and coffee shops late into the night. The cost of living is also low in Greece.
For the investor or second-homer, Greece offers an incredible choice of real estate, with villas and apartments remaining highly competitively priced. Those who are looking to invest in a seaside home and pick up some tourist rental returns could head to the country - while there is also a market for those looking to invest solely to get a quick profit.
The country's economy is continuing to grow - and the real estate market has more than doubled over the last 12 years - rising by 134 per cent over the period between 1995 and 2004 alone.
Yields in Greece stand at around six to seven per cent in Athens - but can rise on properties that capitalise on the country's extensive tourism market. Most seaside properties are rented out on a seasonal basis - and during the peak summer months between June and September can give returns as high as 30 per cent.
Transaction costs are between 11.4 to 19 per cent of the property's value, with the bulk of this payment assigned to the buyer. Tenancy laws are relatively neutral in Greece, being weighted neither towards the tenant or the landlord.
Similar Properties
-
Residencial Villaggio Bergamotto
, Calabria
Prices from € 78,500 -
Atlantico Village
Alcobaca, Silver Coast
Prices from € 155,000 -
Flamingos Tee Six
Marbella, Costa del Sol
Prices from € 484,442 -
Calis Apartments
Calis Beach, Fethiye
Prices from € 95,000
Related Articles
Need Advice?
We at Property Select offer impartial advice on buying property overseas, contact us for more information.
We offer help booking investment trips and viewings of property, contact us today.
