| Calliope Gougoussi, Director of | | | | suggest that we'll see most of the future growth |
| NautilusProperty.com, says: "New property | | | | in the south of the island, but Rethymno, between |
| owners in the Greek islands can expect excellent | | | | both airports, is a good option and the area just |
| rates of return on their investment, as demand | | | | to the south of the port has become very |
| for select holiday property enjoys a continuous, | | | | popular." |
| stable growth. We sell properties at both ends of | | | | Demetris Prodromou is UK and Ireland Sales |
| the market and recognise the unparalleled | | | | Manager for Pafilia, which recently expanded on to |
| opportunities available for buyers." | | | | the island. He says: "We chose Almyrida on Crete |
| Holidaymakers love the Greek islands and they | | | | for its natural beauty and location. Like us, buyers |
| keep coming back for more, so it's little wonder | | | | know that what the Greek Islands have to offer |
| that many now see it as a safe bet for | | | | overall is special. Each island has its own character |
| investment. Easyjet obviously agrees, having | | | | and tradition but Crete really is the perfect place |
| added Corfu and Santorini to its list of destinations | | | | for those who look for something exclusive at |
| this summer, in addition to Athens, Rhodes, | | | | reasonable prices." |
| Mykonos and Heraklion in Crete. | | | | Rhodes is unique in that it has a land registry |
| Six thousand islands and islets are clustered into | | | | system, making it a potentially safer option than |
| seven groups - the most well-known being the | | | | other islands. Lynn Usher, sales manager for |
| Sporades, Cyclades, Dodecanese, Ionian and | | | | Savvaidis & Associates says: "Because |
| Crete, the largest island. Which island is for you | | | | mortgages are fairly new to Greece, we haven't |
| depends largely on your motivation for buying. | | | | had the subprime problem seen in the US and the |
| Only 227 are inhabited and the improved travel | | | | UK. Lindos and Rhodes' Medieval Old Town are |
| links have had a direct impact on property values | | | | potential hotspots because there will never be any |
| in the region. But don't be fooled into thinking that | | | | more space for building in these confined areas, |
| an island without an airport equates to cheaper | | | | and so demand is high and prices will just go up |
| property - it simply means it's 'exclusive' or | | | | and up. |
| 'select'. Remember that this will also have a | | | | "A recent report from the Royal Institution of |
| knock-on effect for your cost of travel or for | | | | Chartered Surveyors shows that Greece was |
| paying guests. | | | | one of the only two regions in Europe that |
| Mark Bodega, Company Director at currency | | | | showed growth in the housing market in 2008, at |
| specialists HiFX, recognises the potential for | | | | four per cent." |
| negotiating a good deal in the current market. He | | | | Corfu, in the Ionian Sea, is the sixth largest of the |
| says: "Many Brits who had overstretched | | | | Greek islands. Mike Petsas, director of Corfu |
| themselves to buy their dream home in the sun | | | | Homes, says: "Corfu has 6,000 Northern European |
| are now unable to afford their mortgage | | | | citizens, mostly UK nationals. It has a stable |
| payments and living costs. What's crucial is to | | | | market, protected by the EU and is a |
| ensure you fix your exchange rate at the start | | | | self-sufficient island, with two large hospitals, |
| of any purchase." | | | | various private clinics and we also have the Ionian |
| Which island offers the best investment | | | | University and some excellent schools. " |
| opportunity is hard to say, according to most | | | | When people set out to buy property on a Greek |
| agents, but Stelios Archonakis of | | | | island, agents find that it's usually a considered |
| Homeland-Greece.com, on Crete, is certain that | | | | decision, based on a long-standing love affair with |
| prices are more competitive in the larger islands. | | | | the location. Beyond the dream though, and |
| He said, "I believe that the majority of the small | | | | particularly if you're investing, consider issues such |
| islands are overpriced, but larger islands such as | | | | as ease of access, infrastructure and sewerage. |
| Crete are seeing high interest because we didn't | | | | According to Roger Fox of on Skopelos, "It is |
| build too many developments so we don't have | | | | currently cheaper to buy a built property in the |
| an oversupply." | | | | Greek Islands rather than to buy land and build |
| Stavros Kapatenakis, director of Grecianland, is | | | | your own." But if you're going ahead with the |
| convinced that although islands such as Santorini | | | | hammer and nails, and the architects' plans, |
| and Mykonos will always be hotspots for | | | | remember that the process of checking land is |
| investment and tourism, Crete offers one of the | | | | connected to services can take up to three |
| best investment opportunities. He says: "Trends | | | | months and is obligatory. |