greek property recommended for long term investment
News Posted On: 15 July 2009
Greece has been recommended as one of the safest places in Europe for property investment. Overseas property specialists Azure Overseas have highlighted the countries stability and prominence in international history as a reason to predict long-term property price growth in the country.
Azure director Frank Crowley said: "Between the Greek gods, Greek Mythology, the Parthenon and the Acropolis, Greek history is among the most prominent and revered in the world. Yet property is comparatively cheap on a like for like basis to other places in Europe, comparing a property that would cost £200,000 - £220,000 in Spain during high times, was being sold in Greece for £150,000 - £180,000.
"The important landmarks will prevent over-development in those regions, and the country's importance in Europe will ensure property prices grow over the long term. Also tourism to Greece has grown massively in the last few years, and will continue to do so. This means that rental yields in the country are strong and growing."
Les Calvert director of Property Abroad.com concurred with the statements and added:
"We have seen activity increasing, more people searching for property in Greece. The international downturn has led to bargains, and there are also a few repossessed properties knocking about. The Northern Europeans are in there trying to get their place in the sun at a knock down price."
View property for sale in Greece
View overseas property for sale
Back to news articles for this country
Latest Related News Articles in Greece
Property Searches in Greek Islands up by 50 pc
2011-07-25
Property searches in the Greek islands have increased dramatically during June, with much of the int.....
Investors Given Chance of Greek Property Bargains
2011-06-14
The austerity measures implemented by the Greek government include large property tax increases whic.....
Greek Government Unveils Austerity Budget
2010-11-18
The greek government has unveiled the long-awaited austerity budget, aiming to cut 5 billion euros o.....
Greek Govt Should Cancel Armament Orders to Raise Cash
2010-09-02
The Greek government is pondering how to raise 5 billion euros, and will probably increase taxes. Bu.....
Gloomy Outlook for Greek Property Market
2010-08-06
Greek property market looking at a rocky road ahead, but bargains will emerge victorious.....
What Does the Bailout Mean for the Greek Property Market
2010-05-04
A bailout for the indebted Greek economy was finally launched yesterday. What impact will it have on.....
Greek Property Market Hoping Bailout Deal is Enacted Swiftly
2010-03-26
France and Germany have agreed to bail-out Greece out with 22 million euros in aid, some of which is.....
New Greek Austerity Measures Get Seal of Approval from Financial Big Hitters
2010-03-09
Greek's latest round of austerity measures have been publicly praised by the EU and the IMF.....
Greece Should Resolve Debt Issues Says EU President
2010-01-13
Following the Dubai World debacle nvestors became concerned other countries may also have problems f.....
Greek Government Accepts Emergency Loan from Private Banks
2009-12-18
The recently elected socialist government in Greece, has accepted a 2 billion Euro emergency loan to.....