Greece defies credit crunch

[Angelo]

Greece defies credit crunch
11 November 2008


Greece tourism is bucking the worldwide trends and has beaten off tough competition to become the top destination of 2009, according to the Flight Centre.

Greece is one of the few European countries to be guaranteeing all deposits in its banking system. Business is booming. The Telegraph recently reported that Greece was at the heart of a new financial Europe. Greece’s own economy is one of the fastest growing in the Euro-zone. So despite worldwide market doldrums there are opportunities to be had for those that know where to look.

One pocket of opportunity in the resilient Greek market is Samos. Samos is the eighth largest island in the Greek archipelago. The island benefits from direct UK flights, a new ferry link from Bodrum expected to increase tourism numbers by 50,000 and a recently announced new seaplane route by the largest seaplane operators in Greece. The island currently caters for the mid to high end holidaymaker, however reports strongly suggest a need for further upmarket tourism on the island.

The Luxury Resort & Spa of Halcyon Hills is situated on the south eastern coast of Samos, languishing in a naturally sheltered bay within walking distance of the small village of Klima. Just fifteen minutes from the airport and the islands picturesque capital, the resort will offer a selection of property from apartments suites to three bedroom premier villas with their own private pools.

Property prices start at £160,000, however the UK based developer has recently released a new initiative to help buyers purchase their dream property abroad without worrying about large stage payments before their property is completed. Customers can reserve their preferred property today with a fee of £1000 and lock the price (prices increase in Jan 09). Normally, the first 30% payments are due within 60 days with the remaining 70% due on completion. However, to make purchasing easier, the developer is offering cashback payments to help cover interest payments on a loan taken out to cover the first 30%. This means, with just £1000 down today, purchasers need pay nothing more until 2011.

Apartment suites start at £160,000, single storey kampanas start at £230,000, one bedroom luxury villas from £290,000, two bedroom superior villas are available from £335,000 and the large premier villas start at £580,000. The three year rental guarantee is based on 8% of the purchase price.


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[Angelo]

According to several recent reports by reputed industry sources Greece's economy and property market are geared up to survive the global downturn better than most in Europe, with The Telegraph putting Greece at the heart of a "new financial Europe".

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2008-11-10 13:23:04 - Les Calvert, director of rapidly growing overseas property portal Property Abroad concurred with the report:


"With very little in the way of banking catastrophes being reported, and banks guaranteeing all deposits, Greece does indeed look sufficiently stable to weather the global financial storm relatively intact. Greek banks have been among the best performing in Europe over the past few months, and the consistent availability of mortgage finance has seen continually rising property prices -- on
top of the impressive rise of more than 200% in the past 15 years."

Property Abroad currently has a vast array of properties for sale in Greece, including a small studio cottage in need of renovation for £11k, and tens of other Greek properties under £40k all in need of a little work but with great money-making potential.

According to Les Calvert, director of property abroad, one of the best opportunities is the off-plan 5* Halcyon Hills development right on one of Samos Islands gorgeous coastlines. Halcyon Hills offers ground floor suites from £160,000, and top floor apartments that make the most of the developments' spectacular sea-views from £187,000. Halcyon Hills also offers an array of other property types including luxury villas, all of which offer fantastic value for money.

Liam Bailey, Property Abroad's chief market analyst said:

"Properties like the Halcyon Hills development have amazing money making potential, with the possibility that they will be worth something in the region of twice the asking price immediately after completion, because of the usual risk affected discount given for buying off-plan property, especially at mid-level prices. The good thing about said immediate profit on Greece property is the seemingly never-ending supply of buyers coming from the financially strong Balkans, Russia and other affluent locations in northern Europe, which will allow today's investors to realise their profits tomorrow."

About Property Abroad

Property Abroad is rapidly growing into one of the best known, trusted and most successful overseas property portals in the U.K. With a slick dynamic site and very reasonable rates Property Abroad currently has among the most extensive worldwide property listings on the net.

To find out more contact the team at:
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[Napalm]

That's good news, all this while our enemies skopia and turkey are taking a big economic hit! At least there is justice in the credit world
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