Tuesday October 21, 2014 Search
Weather | Athens
24o C
11o C
Survival Guide
Greek Edition
Properties cost one-third less than in 2008 on islands

By Yiannis Elafros

Property prices on Greek islands have dropped significantly in recent years, presenting major investment opportunities. The average price of houses at popular island destinations has dropped by a total of 33 percent since 2008, according to estate agents, while on large properties and luxury homes the decline is as much as 40-50 percent.

According to Ioannis Revythis, the president of the Hellenic Real Estate Agents Federation, the average rates in euros per square meter at major destinations are as follows: Myconos, 3,000 euros from 4,500 in 2008; Santorini, 3,300 euros from 5,000; Paros, 2,000 euros from 3,000; Naxos, 1,600 euros from 2,650; Serifos 1,500 euros from 2,200, and Hydra, 2,500 euros from 3,500 euros/sq.m.,

The bulk of buyers’ interest at the moment concerns the purchase of land for future development into holiday accommodation.

“Nowadays 80 percent of buyers on islands are foreigners; just 20 percent are Greeks. Foreign nationals are also attracted by the capacity to obtain a residence permit with a purchase of over 250,000 euros,” explained Revythis.

ekathimerini.com , Sunday March 9, 2014 (21:11)  
TUI promises even more tourists
Greek yields drop to 7.83 pct as investors await ECB move
Athens bourse index leaps on big bank gains
Think-tank says political uncertainty slowing investment in Greece
Archaeologists find missing head of Amphipolis sphinx
Archaeologists digging at a tomb dating to the era of Alexander the Great in ancient Amphipolis in northern Greece have found the missing head of one of the two sphinxes guarding the entranc...
Coalition leaders prepare for troika amid sour mood
A dispute between New Democracy and PASOK over civil servants’ salaries continued Tuesday, underlining the big task facing Prime Minister Antonis Samaras and Deputy Prime Minister Evangelos ...
Inside News
PAOK fans stop coach Markopoulos´s move to Olympiakos
Olympiakos is once again in the lookout for a new coach after the refusal of PAOK to release Soulis Markopoulos, while Panathinaikos defeated Kolossos on Rhodes on Monday to become the only ...
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
Inside Sports
The ECB collateral for Greece must be lowered to 5 pct
According to recent reports, the European Central Bank plans to reduce the “57 percent penalty,” that is the discount applied to almost all Greek government bonds (GGBs) held as collateral b...
The past, present and future of the Greek debt crisis
For a decade, until mid-2012, Josef Ackermann was the CEO at Deutsche Bank. It was a position that earned him the nickname “shadow chancellor” of Germany and allowed him to play a decisive r...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
1. TUI promises even more tourists
2. Archaeologists find missing head of Amphipolis sphinx
3. Coalition leaders prepare for troika amid sour mood
4. Parties at odds over university ID checks
5. At Pentagon, Tsipras assures defense policy continuity
6. Greek kids top weight charts
more news
This Week
1. The past, present and future of the Greek debt crisis
2. Gang importing heroin into Greece busted
3. Self-opposing coalition
4. Greece said to seek tailor-made plan for bailout exit
5. Gutsy rectors
6. Applications for heating oil subsidy set to start
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Greece to contribute 1 mln towards Gaza reconstruction
3. Istanbul skyscraper casts shadow over Greece's banking ambitions
4. Greece nearing bailout exit, says gov't spokesperson after IMF talks
5. Coalition shooting itself in the foot
6. GPO poll gives SYRIZA clear lead over New Democracy
   Find us ...
  ... on
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.