Greece Property Appeal Boosted by Holiday Popularity

After surveying 25,000 readers, the Telegraph Travel awards 2008 recently recorded Greece as the second most popular European destination with UK tourists -- more popular than Spain. In fact Greece was put in second place behind Italy, with 1st and 2nd places remaining as they were in the same survey a year ago. This increases the allure of Greece property as an investment, according to Frank Crowley, director of overseas property specialists Azure Overseas.

"Though Australia and New Zealand are the readers favourite destinations in the world, Brits have bought more Spain property, France and Italy than Australia and New Zealand. Whatever the reason, cheaper flights, more frequent use of holiday homes etc, the fact is that UK property buyers tend to buy in their favourite European destination than their favourite worldwide destination. Greece's continued popularity with Britons as a holiday destination is therefore very good news for the property market.

"It has generated substantial growth in Greek property prices in the past few years, and even now as growth slows because of the global situation it presents the opportunity of earning substantial rental incomes from Greece property. On top of that, like many places, off-plan properties in Greece are currently coming onto the market at a lower price than they would have when times are good. So even investors should buy a holiday home in Greece; have some great holidays, earn some good money from holiday rentals, and then sell at a massive profit when the development is completed, or when the global property recovery begins, whichever comes first."

One such bargain property in Greece offered by Azure Overseas is the Drapanos Krystyna Apartments, in Drapanos near Crete. Drapanos is a small traditional village set in the hills inland from Kalives and Almirida. The Krystyna community style development consisting of eight two bedroom apartments enjoys views of the White Mountains on one side, and Souda Bay on the other. Facilities include a communal pool, a traditional cafeteria in the square, a tavern and a mini-market. Prices start from £93,000.

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