Real Estate & Property Investment News in Greece from Propertyshowrooms.com

Foreign tourist arrivals to Greece rose by 8.5%

Fri, 9 Jan 2009 00:00:00 GMT

Recently released official data show that foreign tourist arrivals to Greece rose by 8.5% year-on-year (y-o-y) in 2007 – slightly stronger than we had previously forecast...

Greek Finance Minister Delivers Budget Speech

Fri, 12 Dec 2008 00:00:00 GMT

The Greek Finance Minister George Alogoskoufis stressed in the recent government budget that Greece's tax system required few changes as the country remains relatively unscathed by the financial crisis...

More protests planned in Greece

Mon, 8 Dec 2008 00:00:00 GMT

After police killed a 15-year-old boy, Greek cities plan demonstrations for Monday evening...

Greek islands could be opened up to mass development

Thu, 16 Oct 2008 00:00:00 GMT

The Greek government is expected to change its planning regulations. The new rules would open up the Greek islands to high density housing developments.

The new planning regulations governing housing development on the Greek islands could be in place by the end of November, reports The Independent.

Under the proposed changes, restrictions on the size and density of holiday homes on the Greek islands would be removed. State subsidies that are currently only available to hoteliers would also be offered to housing developers.

Greece's numerous islands, among them the Ionian and Aegean islands, have previously been protected from high density developments. Authorities have felt mass development unsuitable due to a lack of infrastructure and natural resources

The Greek government has said that the proposals will be approved within a month despite political opposition and criticism from conservation groups.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website...

Greece may be the forgotten player of the Euro luxury market

Thu, 24 Jul 2008 00:00:00 GMT

> With so much interest in emerging countries, Greece is often overlooked these days, dismissed as the sun-splashed escape of 1968, not 2008. But the land of Mykonos and Crete continues to attract a steady stream of high-end buyers to villas on picturesque olive-tree-covered hillsides. There’s a great story in this week IHT on Greece, “Greek real...

New Greek property registry off to a slow start

Thu, 10 Jul 2008 00:00:00 GMT

Property investors in Greece are being reminded that they need to check if their property is registered, and if not, register it as the country attempts to put in place its first ever land registry...

easyJet flights and improved roads open up Crete's property market

Tue, 1 Jul 2008 00:00:00 GMT

Crete's property market is opening up thanks to new easyJet flights to Heraklion and improvements to the island's roads. New developments in Crete still offer good value for money for property investors, compared to other EU countries.

Crete is steadily gaining in popularity with property investors, particularly around Chania, to the west of Heraklion, the island's capital and site of the main airport, reports The Telegraph.

Since easyJet has started flying from Gatwick to Heraklion, more investors have been choosing Crete: "The low cost living is attracting would-be Spanish purchasers and easyJet's take-over of GB Airways' Gatwick-Heraklion route gives people the impression that Crete is more accessible," said property consultant Oonagh Karanjia.

The remoter, eastern side of Crete is also expected to open up to investors, as the island's main road is extended. This will cut the journey time from Heraklion airport to Elounda, an as yet relatively undeveloped location, to just 40 minutes. A possible new airport in Sitia could also open up the far east of Crete.

Greek property specialist John Batty points out that Crete is a "fantastic opportunity" and remains good value in comparison to other EU countries. Several new developments are being constructed in the east of Crete, where prices are slightly higher than in the west; property prices to the south of Heraklion are currently 40 per cent cheaper than in Elounda, according to Karanjia.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.
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The Property Market in Greece is Developing

Tue, 1 Jul 2008 00:00:00 GMT

Greece is an interesting nation to consider when writing about property investment and buying homes abroad because whilst it is a hugely popular holiday destination, few foreign buyers ever buy second homes, retirement properties or even investment real estate in Greece. The reasons for this include the fact that it is expensive to buy on the mainland and on the islands, it is far from a simple experience thanks to a lack of centralised land registry, and because the government has made it all but impossible for overseas buyers to enter the market in the past. But ironically, when all around us international property markets are flagging as a result of a global ‘credit crunch’ and more specifically because of stagflation in the UK, the property market in Greece is developing.