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Sep 02

Property Investors Target The Greek Islands

The Guardian newspaper has learned of Greeces plans to sell or offer long-term leases on some of its beautiful and highly popular islands, reports property website House Sales Greece (). This remarkable decision which could see some of the most unusual property sales in Greece and indeed Europe is an attempt by the country to repay its sizeable debts. It is thought that (unsurprisingly given the scale of the purchase) wealthy property investors are likely to be the target market.

In a move never even previously considered by its government, Greece has decided to put some of its 6,000 picturesque islands up for sale or long-term lease to anyone that can afford what are sure to be hefty price tags. Its not just Greek properties on the islands that will bear a for sale or for rent sign – whole areas of some islands will be for sale or rent to the right buyer. The Guardian has found that an area of Mykonos which is one-third owned by the government will be put up for sale to a real estate investor who can not only afford the price of the sale itself but who is also willing and able to invest cash into developing a new luxury tourist complex on the island.

Wealthy purchasers and property investors from Russia and China are also looking to buy Greek property on the island of Rhodes, according to the article. These are two of the BRIC nations; along with Brazil and India, Russia and China have been highlighted as emerging economies with an ever-increasing class of the super-rich. It is these high-net worth individuals and property investors that are being targeted to buy property in Greece and its islands to help fill the countrys empty coffers. It is thought that Roman Abramovich, the billionaire owner of Chelsea football club, could be one of the more famous investors considering purchasing a slice of a Greek island.

Meanwhile, mere mortals have not turned their back on property in Greece. While the dire economic situation of the country has seen an increase in the number of people needing to sell property in Greece, there is still interest from people wanting to buy Greek property, particularly bargain hunters looking to exploit the market.

If youre looking to buy or sell Greek property even if its a humble apartment rather than a swathe of a Greek island then youll find further information and the latest property listings at .

Editors Note: The Worldwide Group and House Sales Greece () is represented by the digital marketing specialists and SEO provider Jumping Spider Media. Please direct all press queries to Louise Byrne. Email: or call: +44 (0)20 3070 1959 / +34 952 783 637.

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