Introduction - on this page you will find links to
details of Greece holiday homes for sale, Greek holiday rental accommodation and shared housing in
Greece....
As one of the most popular tourist hotspots in southeast Europe, Greece has hot
summers, mild winters, and stunning beaches. It is on the Mediterranean Sea,
bordering Albania, Bulgaria, Turkey and Macedonia. Its islands are in the Aegean
sea. Greece has a population of just over 11 million, has been a member of the
EU since 1981, and has the Euro as its currency. Greece consists of not only the
mainland with world renowned city of Athens with its impressive buildings and
busy streets, but includes over 1400 beautiful islands, such as Crete, Santorini,
Cyclades, Dodecanese, and the Ionian Islands. The high Pindus mountains separate
the northern provinces of Macedonia and Thrace from the flatter southern areas
of Epirus, Thessaly, and the Peloponnese.
The Greek Property Market
- Greece is one of the new up and coming property investment places for
the holiday rental market. Property in Greece is currently undervalued. This is
because the property investment has only just taken off, with foreigners only
beginning to buy property since the Olympics in 2004, and buying mostly for the
holiday rental market. There is a wide range of styles of property to buy in
Greece from traditional stone buildings to modern apartments. Property prices
are particularly sensitive to location in Greece. Most popular places to buy
Greek property for UK investors are on the islands of Crete, Kefalonia, and
Corfu. The north west part of Crete is well known for being tranquil, green and
lush, whereas southern Crete is where most of the existing UK investors have
purchased, many of them as retirement properties Property on Greek islands can
often be built of traditional stone, and those needing renovation command
bargain prices. Bear in mind though that water, electricity etc may often be
missing from these properties and add considerably to the renovation cost.
Generally property prices on the Greek islands are more expensive that on the
mainland, but equally are easier to re-sell because of their attractive
location. Mainland Greek property appears to be more popular with German,
Scandinavians and East Europeans. As the Greek property market is
relatively new, growth prospects look good, whilst the
holiday rental
opportunities curly offer investors with both good growth and income
prospects.
How to Buy a Property for Sale in Greece -
It is important to engage an English speaking lawyer when
buying property in
Greece. The British Embassy can provide a list of suitable lawyers. When you
make an offer for a property in Greece, you will be required to pay a deposit of
about 10% up front and a pre-contract agreement is then signed. Under Greek law,
no contract is enforceable unless it is in writing. If you do not complete the
purchase, you will forfeit your deposit. If the seller defaults, you receive
twice the deposit back. Both the deposit and the completion monies must be in
Euros. After searches etc are complete both parties sign the final agreement in
front of a notary public and the balance of the purchase price paid. Your
property transaction is then registered. Fees on property purchase are high in
Greece, so ensure you allow sufficient amount when arranging finance. For fees
etc, allow 13% to 15%. This will include the notary public’s fee, a municipal
tax payable to the local authority, a transfer tax (for re-sales only), and the
land registration fees for your property. If you are buying a new build
property, VAT at 19% is also payable.
History and Culture - Greece is known as the “cradle of civilisation”.
Greece is full of myths, legends and history with a strong cultural and
historical heritage, evidenced by such well known buildings as the Acropolis,
Temples at Knossos, Akrotiri, Delphi, the sacred island of Delos, the Parthenon
at Athens, the Minoan palaces on Crete. Greek literature is legendary - Greece
is the home of Homer and the Iliad. Greek architecture has had a world
influence, particularly for the Italian Renaissance period and the British Greek
revival period. Well known styles in historical properties are Corinthian
columns, Doric (the Parthenon) and Ionic. Greece has been influenced by both
West and East. Greece has several important national holidays: March 25 Greek
Independence Day, celebrating the beginning of the revolution against the Turks
in 1821 and is marked by military parades; October 28 is the National
Anniversary of Greek Independence and Nov 17 marks the day the student uprising
against the Junta in 1974.
Population Demographics
- Most Greeks are Christian, being 98% Greek Orthodox, with Roman
Catholic, Muslim and Jewish in the minority. All over Greece you will find
wonderful monasteries and stone church buildings, with ornate domed roofs and
heavily decorated interiors. In the Cyclades, the architecture changes to white
painted buildings with blue painted domes. Greece is divided into 51
prefectures called “nomoi”. The main city is Athens where about one third of the
population live. Other major cities are Thessaloniki in the North and Patra in
the west. Government in Greece has changed substantially this century. The
military junta and a referendum on the monarchy were rejected in 1975 when a new
Constitution was signed, and today Greece is a parliamentary republic with a
president as a head of state. Greece has historically had issues with Turkey
over borders, maritime issues etc. and continues to do so. Like all southern
European countries, Greece has a national health system (called the IKA). This
provides free or low cost medical and dental care for those who contribute to
Greek social security, plus their families and retirees. Costs charged are 25%
of the actual cost of prescriptions, but the service is very under-funded and
hospitals are over-crowded and do not offer a good service. Consequently private
health care is most often used. All the major international medical insurance
companies operate schemes (BUPA etc). A new hospital with heliport has just been
built (2007) in Corfu.
How to Get There - Greece is two hours ahead of the UK,
has 15 international airports, including Athens, Thessaloniki, and many airports
on the various islands such as Rhodes, Corfu, Santorini etc. All the major
budget airlines in the UK fly to Greece, with a flight time averaging just over
4 hours. Tourists from the UK do not need a visa, but if you wish to stay in
Greece more than 90 days to live or work you will need a National Visa.
Tourism and Entertainment – Music, religion, food and wines,
language and traditions make up Greek culture. Greece has many festivals (Panagiri)
throughout the year. Greek people are very proud of their culture and many of
the festivals have a religious or pagan background. Easter and Christmas are
spectacular. Greece is well known for its nightlife, with bars and
restaurants open until the early hours. Food, wine and music are everywhere, and
a lot of bars have traditional Greek music playing with the bouzouki. Many of
the islands such as Mykonos, Santorini, Paros, Corfu and Ios have developed late
night nightclubs partying on until the dawn in summertime, attracting a lot of
young people. Athens with its Acropolis and the Parthenon are big tourist
attractions as are its many museums and art galleries. In the islands it is the
wonderful white-washed buildings, stunning beaches and crystal clear waters.
Other unmissables are Ancient Olympia where the original Olympics started,
Temple of Hera at Olympia, Mount Olympius which is the highest mountain in
Greece and was said to be the home of the Greek gods in mythology.
