Skip to content

Investors keep a watch on Greece

Greece has long been a favourite holiday location for many in Europe and around the globe. Owning property here has been a good option for some, but others were deterred by the higher property costs.

Greece has seen somewhat of a transformation in recent years (especially since the 2004 Olympics were held here.) The country has seen an improved communication sector and improved transportation around the country. Additional tourism industries continue to do well. The property market has been benefited by these conditions, seeing more interest from both local and foreign investors.

Athens is a widely expanding city. Yet, just a bit away is the Saronic Islands, which are seeing a great expansion in terms of property. Additionally, Aegina is within just minutes of the mainland and is a great place for tourism on a family level. Demand for properties in the Greek Islands continues to rise.

Like other countries in the European Union, though, the economy is weighing heavily on the minds of investors. Many believe that the Greek economy will do well through a slowdown, though the country may only see a growth rate of 3.5 per cent to 4.0 per cent in 2008. The credit crunch here is likely to be a significant factor moving forward.

Related