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Marina Developments

Marina Developments - Real estate TV programmes constantly hammer home the message that location is key to a successful property venture anywhere in the world, but how do we determine that a location is going to lead to a sound investment? Quest Greek Islands takes a look at one location that is certain to fit the location criteria – buying luxury property by the Greek Island’s yacht marinas developments.

Marinas Mean Money

If you think of Greek Island marinas and yachts people like Aristotle Onassis spring to mind along with luxury, style and wealth. Many of the islands both large and small have marinas and there are more in the pipeline; the growth of nautical tourism and growing interest in yachting holidays around the Greek Islands has lead to the planning of new, state-of-the-art marina developments, which will provide first class facilities and amenities for sailors. And yet, the creation of new marinas and refurbishment of old ones will in no way spoil the striking beauty of those island towns set to become part of the plan. Therefore, if you feel you may have missed the marina property boat, think again – these new marinas are likely to be designed with a wealth of new properties with price tags under 200,000 Euros, which for a luxurious and prestigious setting is not expensive.

Samos, the Latest Marina Development

The island of Samos lies in the Aegean Sea just off the Ionian coast of Turkey, but in Greek waters. It is renowned as the birthplace of legendary mathematician Pythagoras. It is a beautiful, fertile island, rich in vineyards and large mountain ranges. It was once at the heart of Ionian luxury and culture with its unique fine wine and delicate red pottery. It’s rich and colourful history left its mark with the Heraion, the ancient temple dedicated to the goddess Hera.

This island, which already has a marina located on the south east of the island catering for 260 yachts up to 25 m long, is now one to watch thanks to the construction of a new marina due for completion in 2011. It will be situated at the Halcyon Hills Resort, a five star spa complex, which will feature two new luxury residential developments. Buying close to any marina is going to bring a good return in the future but Samos’ advantage lies in the fact that it is a mere 60 km from the Turkish west coast and the newly constructed super marina known as D-Marin in the town of Didim. This marina is the largest in Turkey and has seen investment in excess of 30 million Euros giving it the capacity for 1,100 yachts. The marina manager Murat Yaprak, said,  "D-Marin Didim will generally host mega-yachts, between 75 and 100 m in length and it will have a capacity for 650 yachts at the pier and a further 450 yachts at sea." The marina is set to have many facilities and amenities like banks, swimming pools, gas stations restaurants, a heliport, sport centres and shopping malls.

This Turkish development is likely to have a dramatic effect on Samos’ tourism particularly when the new marina is built there. Robin Barrasford, Managing Director of Barrasford Bird, the marketing company behind the development of the marina and Halcyon Hills maintains, "Both Greece and Turkey have a blossoming up-market tourism trade, and yet the supply of suitable facilities and accommodation for this market is playing catch-up. The completion of the D-Marin at Didim and the completion of the Halcyon Hills Marina a few years later will be testament to the implementation of Government initiatives to increase up-market tourism on the islands." Luxury property at Halcyon Hills resort start at around £160,000 and there are various finance deals including 100% finance assistance and fractional ownership. Anyone buying property within the Halcyon Hills development is sure to benefit in the future because by the time the marina open D-Marin will have established itself as the leading marina on the Aegean Sea.

Growing Tourism

However, it’s not just the yacht owners that will soon pour into the island of Samos. The island already has excellent transportation links with numerous ferries to other Greek islands as well to Athens. However more improvements to the island’s transport links are set to occur with the introduction of ferry services between Turkey and Samos with easy short term visas available for citizens of both countries. This is liable to bring masses of tourists into Samos from Turkey thus ensuring a greater interest in the Samos property market and the fact that D-Marin is open all year round, the tourist season will naturally be extended on Samos increasing demands for accommodation and driving the rental market as well.