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Property Price Index for Greece

The central bank of Greece is launching a property price index. The bank intends to measure more accurately the trends of property prices in Greece and the Greek Islands. Thus providing a credible and reliable benchmark for property purchasers.

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Greece Property: Santorini

Santorini seems to be ever popular for Greece property buyers - and little wonder, this jewel of an island is picture-postcard beautiful and upmarket. For those property purchasers looking at the Greek Islands for a holiday home or permanent property to live in, Santorini lives up to every bit of hype and is becoming more and more enticing.

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Why Buy Property in the Greek Islands?

The Greek Islands are truly heaven on earth with their dramatic, natural landscapes and rich ancient history. The islands offer something for everyone particularly if you are looking for a low cost of living and a warm, sunny climate. For property investors, the islands offer some of the most desirable homes in Europe and indeed, many would say the world. Investment costs still represent some of the best value in Europe making the Greek Islands a reliable investment.

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Budget Properties in the Greek islands

If you are looking for a property on the gorgeous Greek islands but only have a small budget, don’t despair! Kos is the island with the most opportunity and selection whereas Corfu is somewhat lacking in budget properties; the majority are in excess of 120,000 Euros. You also need to bear in mind that the cheaper the property, the more work it will need and the Greek Islands are more mature than current boom markets like Eastern Europe. Consequently the ultra cheap farmhouses don’t really exist and it is difficult to find a lot of properties under 60,000 Euros but if you look hard you will find some gems and looking is half the fun. We give an insight into the islands with the cheapest properties.

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Buying a New Build on the Greek Islands

When considering buying your Greek holiday home, most foreigners immediately think of a quaint whitewashed Greek cottage overlooking sparkling seas and sandy beaches. However these properties can involve lots of work and turnkey cottages of this nature are often few and far between. There are however many spectacular new builds on all of the islands, which are worth considering or you may decide to start from scratch and build your own luxurious dream home. Take a look at our useful tips on what to look for when you buy a newly built property.

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Properties under 80,000 Euros

There is plenty of choice among the many inhabited Greek Islands to pick up some delightful property for a budget of around 80,000 Euros. Apartments fit into this budget particularly well and most islands have a good selection on offer many with sea views and close proximity to the beach. There is also plenty of renovation property available and some may qualify for government renovation grants, which will cover up to 45% of the costs. Villas are few and far between within this price range, although that is not to say there are none available, you just have to look harder. It’s worth weighing up what the islands have to offer in terms of beautiful scenery, healthy living and a beautiful climate compared to what 80,000 GBP would buy you in the UK. The lovely authentic Greek architectural style and the attractive island locations make property ownership an attractive proposition whether it is for personal use or investment.

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The Greek Island Property Market

beautiful santorniThe Greek Islands are all very different each with their unique charms and traditions. The property market offers a massive choice in terms of properties, both new and old and prices in comparison to Northern Europe reflect excellent value. Obviously the most popular and larger islands like Crete are more expensive due to high demand driving up prices. More and more new developments are coming onto the market and it is still possible to find a bargain particularly if you don’t mind renovating or are looking for an apartment. The cheapest properties can be found inland in the more rural island villages, where you can still buy a big farmhouse for the same price as a coastal apartment in Santorini or Mykonos.

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High End Properties in the Greek islands

There are over 221 Greek islands where you will find properties for sale; with a budget of over 200,000 Euros you really have the sky as you limit especially on these major islands from stylish apartments to luxurious villas. We take a look at top end property on the available in the towns on the four most famous islands and give you the opportunity to dream about a life of luxury in the sun.

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Advice for First Time Buyers

Buying your first home is both a thrilling and frightening experience, but imagine if your first buy was on one of the Greek Islands! Not only would you have to find your way through the maze of Greek paperwork and legislation, but you would also need to adjust to life in a different country with a language and culture alien to your own. Most matters linked with buying a property are not unique to first time buyers, but if this is a process you have never experienced before, then you are likely to feel like you are fumbling in the dark. 

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