Greece Is A Land Of Variety And Contrast

Of course, as demand increases, so do the prices

, and many real estate agents and investors are saying that now is the time to make the jump into Greek real estate, before the prices increase too much more. One of the property types that is creating quite a bit of investor interest is villas.

Villas are typically thought of as a large country residence that has all the amenities one could want, often built in earlier times. However, modern villas are still being constructed, and these are attracting the most interest. Typically smaller in acreage than the villas of earlier days, the house portion itself is often as large, if not larger, than the existing villas. People searching for retirement and second homes, especially, are not particularly interested in keeping up the grounds or hiring someone to do so, even in a low-maintenance location like Spain. Greek villas are being purchased based more on the amenities in the home than the grounds themselves.

Sometimes buyers are even purchasing and older property and renovating it or even completely tearing it down to build a more modern home. However, sales of existing Greek property are still strong, and if you have ever considered owning property in a warmer climate, this is definitely the time to take advantage of a great buyers market. Sellers are very willing to negotiate, and this offers a window of opportunity to find the perfect property at a price that likely will not be seen again for quite a while.

Greece is one of the safest locations in the world, and it offers a rich history that brings in millions of tourists each year. The economy has had its issues lately, as has every economy in the world, but the draw of the tourist trade means that there is a base of income to keep the country in good shape. In fact, tourist accounts for nearly 20% of GDP, and the global economic softening has made Greece an even more attractive tourist destination, so the outlook for the country remains strong.

That offers yet another opportunity for the purchase of apartments in Greece that can be used by tourists. Apartments offer a chance for the first-time buyer to find something in a reasonable price range that can be used any time of the year you want--and then let out to holidaymakers for the rest of the year. Finding a great deal on property and being able to turn it into positive cash flow is a huge advantage that is often overlooked by people considering real estate purchases.

Now is probably the best time in several decades to turn a small investment into ongoing cash flow by purchasing a property that appeals to you, and will also appeal to a Greek tourist.

by: James P Martin

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