£700,000 Greek Property Sold - British Appetite for Overseas Property Returns

Overseas property agent Azure Overseas has announced the £700,000 sale of a 3 bedroom villa in the Halcyon Hills development on the Greek island of Samos, which completed last week. The sale reflects the increasing confidence in overseas property, as well as the quality of the development, which has passed muster with today's risk averse breed of buyer, the firm said.

"There has been a lot of talk recently about the increasing confidence in a return to buying overseas property, and this sale confirms it. The client fitted the new buyer profile to a tee; conducting her own research at great length before deciding to purchase, which shows the value for money and quality of the Halcyon hills development, as well as confidence in the Greek property market and Azure Overseas", said Frank Crowley, Azure director.

Halcyon Hills is a 5-star spa and marina resort on the coast of Greek Island Samos, due to be completed in the spring of 2011 and offering 8% guaranteed rental yields for the first two years. The development is front-line, and all properties have sea-views. The buyer is a solicitor from Surrey, who researched the development at great length before deciding to purchase.

"This is the way an overseas property investment should be carried out. This lady made sure she knew absolutely everything about this development before purchasing. So both the buyer and ourselves here at Azure are left with total confidence and peace of mind that she will be 100% happy with her new home in the Greek sun," Frank said.

This is undoubtedly a clear sign that British appetite for overseas property is once again growing. When prices were falling and the recession deepening, no one knew what the full extent of damage was going to be to overseas economies and property markets. Now that it is becoming clear that the worst of the downturn is over, and we can clearly see the effect it has had on countries and markets like Greece, people feel confident enough to get back out there and buy overseas property again.

Find out more about buying overseas property

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