Rich investors from Germany and Great Britain are heading for Greece
Foreign buyers from the cold countries of Europe are taking advantage of affordable purchase opportunities
Rich investors from Germany and Great Britain are heading for Greece to make profitable real estate investments.
Greece is facing a deep economic crisis and someone suggests the country should sell some of its islands to get out of its outstanding debt burden. Of course, this possibility is not taken into account by Greece, but there are some foreign investors coming from the “colder” Europe who may find this possibility interesting.
The opportunity to buy an island with a small house in the middle of the Aegean Sea, in an unspoilt area, with a sunny climate, hot temperature for more than the half of the year and a delightful gastronomy at an affordable price is very appealing for high-budgeted investors.
The number of tourists coming from northern countries and longing to find a suitable property to buy is increasing. Many of them are retired people who want to take advantage of the March-to-December sunny weather and move to the Greek coast for half of the year.
There are numerous building plots of land and old uninhabited houses for sale on the Greek coast.
Prices range from 100 thousand euros to 1.5 million euros. On the Andros Island, for example, it is possible to buy a 120-square metre home with a 4,500-square metre plot of land for 250 thousand euros. The price of a smaller house in the heart of the village amounts to 100 thousand euros. Mykonos – the Hellenic Ibiza – is the most expensive island in Greece. Properties cost 1 million euros, here.
Several investors coming from France are buying properties on the Island of Paros where there are little more than 15 thousand inhabitants and where French has become the second language. Many of them have relocated here and have started business activities.
The crisis has damaged residents but has become a business opportunity for foreign investors. Numerous Greek entrepreneurs were obliged to close their activities and sell their small seaside houses. Consequently, tourists that wanted to remain loyal to holidays in Greece benefited from this purchase opportunity and bought their own property on the Aegean coast.
Fortunately, Greek beaches have not experienced the same urban colonisation reported on the Spanish islands – such as Mallorca and Marbella – that have run the risk of losing their own identity due to the massive construction of real estate properties for overseas retired people authorised by the government.
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