There is a very high demand for properties in Greece. Tourism is considered to be one of the most important contributors to the country’s economy. (Some years it ranks as high as 10% of total domestic income). In a study made by the World Tourism Organization Greece ranked sixteenth in the list of the most popular tourist destinations in the world.
About 90% of Greece’s tourists are from Europe, primarily the countries of U.K., Germany, Italy, France and Austria. Outside of Europe the tourists flock from the USA, Japan, Canada, Australia.
Many people who come to Greece are looking for more than just time on the beach. They are eager to explore a country that is full of culture and history. While they enjoy the sand, sea and sun, they are also drawn by the many tourist attractions in the cities. For example they want to see the Parthenon, or walk on the streets where the great philosophers used to debate on the ideas that would shape the very soul of Western civilization.
Greek cuisine is also well celebrated. It has a unique flavor and is supposedly very healthy. This has led to the famous Mediterranean diet. Nutritionists say that the diet has very low fat and cholesterol content and is full of vitamins and nutrients that prolong life. But most of all it is very delicious. It is a sheer pleasure to sit on the sidewalk cafes of Greece enjoying its amazing food with a bottle of local wine.
Greece is also known for its very friendly and easygoing people who are very welcoming and warm. Many can speak English so it is not that difficult to go around. Plus, because of the increase in foreign property investments, many foreigners from Europe and North America have chosen to settle in Greece or buy vacation homes there. Thus there are many international communities, with many more being developed as interest in Greek property increases. Who wouldn’t want to live in this beautiful city, after all?
Finally, Greece is getting the recognition it deserves as a prime place for people to buy property. Though it has taken a little time for investors to realize the beauty of Greece and its potential as a place for vacation or retirement homes, the real estate market reflects that they are coming to he country in droves.
And why wouldn’t they? There is so much of Greece to love and discover: pine-clad hillsides, dramatic limestone gorges, Greek amphitheatres, and sun-drenched isles. In fact these have led to a thriving tourist industry with millions of holidaymakers every year.
Greece’s beaches are so beautiful. The country has the world’s ninth longest coastline, and there are many islands that are just a short boat ride way: Crete, Rhodes, Kos, Euboea, the Dodecanese and the Cycladic groups of the Aegean Sea as well as the Ionian Sea islands.
Greece is a great place to buy property but some things must be remembered. First of all, those who are not members of the EU must get approval from the local prefecture in certain areas in Greece. This is not a difficult process, however, so don’t let it dissuade you. It generally does not take a great deal of time and usually is granted without a great deal of fuss.
Buyers should also make sure to hire a lawyer. This will help you avoid the problem called ‘usucaption’ which occurs when property has not been registered properly as it has changed hands from generation to generation, owner to owner. A lawyer will be able to double check ownership and take the necessary legal precautions so you don’t have to worry about someone arriving on your door step and claiming you live in his land home.
Other important steps are getting an AFM or tax number, and hiring someone to do a property survey. Be sure to get an independent consultant who will also be able to inform you of property defects.
After a vacation in the idyllic country of Greece, many people start daydreaming of buying a property there so they can regularly come back to its sunny shores. Sometimes they are so caught up in the daydreaming that they don’t realize that this decision takes more than just imagination and a vacation hangover. There are certain things to consider and manage so that you don’t experience the pitfalls that turn dreams into nightmares.
For example identify the kind of hope that you want to buy. Is it a village home or an apartment in the town? Is it a place by the beach or a quiet mountain resort? Be sure to think about what you want to enjoy in your new home and what is most important to you.
For example you may have liked living in a quiet country home during your last vacation but if you actually live there you might not like it to be too quiet for too long. You may miss seeing your neighbors or going to the shopping district.
Also look at convenience. Do you need to be near a hospital or school? Do you need to find work? Then you might not be able to live in a remote mountain village. And while living by the beach can be fun do consider that you may not like the tourist crowds when it’s peak tourist season.
It all boils down to what’s most important to you. Are you buying a house where you can retire in or a vacation place? How long do you plan to stay there each year? Do you want to recover some of your investment from rentals? What about maintenance? How much are you willing to spend on property management fees such as gardening? If you have no plans of staying there for long periods of time then at least think about security and safety. You don’t want people breaking into your home while you’re away. And don’t forget things like community. Do the people in your neighborhood speak English well? What is the ambience of the place, is it a place where everyone parties or is it private and secluded?
