property searches in greek islands up by 50 pc
News Posted On: 25 July 2011
Property searches in the Greek islands have increased dramatically during June, with much of the interest coming from British buyers hoping to find a bargain due to the economic crisis in the country. All in all, interest in Greek property has increased by a fifth compared to May, but searches in the Greek Dodecanese island group are up by an incredible 50%.
Part of this increase in the number of searches can be considered seasonal, especially as the British weather has been a little temperamental of late, but it's clear that problems with the Greek economy are also attracting buyers looking for an investment opportunity. It looks as if some Britons are prepared to take a long-term view, and think there will be the potential to realise significant yields once the economy has recovered.
There are some who think this view may be a little risky, and until the economic situation becomes a lot clearer it's likely that most will delay their purchases. If the Greek debt situation is resolved in the long term, then it could be a great opportunity for investors, and although it has just been resolved in the short term, many experts are advising people to look towards more stable markets.
They point out that the high level of debt and austerity measures are likely to increase unemployment and taxes, and reduce the amount spent on infrastructure. This is likely to make the Greeks even more unhappy about their situation, and is unlikely to be conducive to anyone seeking to buy a second home to increase their own quality of life.
View property for sale in Greece
Written by Les Calvert
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