The past year was one of the best in recent memory for Greece, with the economy growing, political stability and tourists coming in ever-greater numbers. The property market is buoyant too, but prices are low. So will 2020 be the year you buy here? Diana from Corfuhomefinders tells us about the year just gone and how the good news should make buying in 2020 even more tempting
Shakespeare’s A Midsummer Night’s Dream may be about lovers in Athens, but in the midsummer of 2019 it’s property buyers who are feeling the love in Athens. As prices rise by nearly 6% in the capital and not much less in the islands, no wonder that international buyers are flooding in. Greek property prices are rising fast.
As Greece’s recovery from the financial calamity of the past decade continues, we look at what is happening to Greek property prices right now. It’s not just in homes that there are more than encouraging signs, in many sectors of the property market the recovery is not just continuing, but gathering pace.
What’s happening in the luxury property market in Greece? It has long been a popular choice for luxury home buyers. And it’s easy to see why; few places quite match the beauty of these Mediterranean islands, or the art and history that appeals to those with a taste for the finer things in life. What’s more, a big budget goes much further here. So what will €500,000 buy you in Greece?
Greece’s property market is on the up, with a much healthier outlook than for a long time. For three quarters in a row, according to data from the Bank of Greece, prices have been rising. That’s the longest sustained rise since 2008. We’ve certainly seen these nationwide trends reflected here on the islands. In fact, right over the last three years, we’ve seen a huge return of interest in the property market in Greece. This is for a number of reasons, including economic stabilisation, greater letting flexibility and international transport links.
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