Greece, a safe option for Overseas Property Investors

Due to financial times many investors are looking to Greek property rather than stocks and shares and Greece is heading the charts for European Property Buyers. Greece is offering the safest option with a healthy banking structure.

With the global financial market in turmoil, knowing where to invest your money isn't as straightforward as it used to be. Stocks and shares are more volatile now than over the past couple of decades,and banks are collapsing throughout the world.

While the credit crunch are spreading far and wide there are safe havens waiting to be exploited.
Greece is one of the European countries to be guaranteeing all deposits in its banking system at the moment, and The Telegraph recently reported the country was at the heart of a new financial Europe.

Greece's own economy is one of the fastest growing in the Euro-zone, with the country enjoying a sustained economic boom post 2000, including a significant expansion in construction and engineering. Greece is at the hub of the new emerging markets, including the Balkans, and Greek banks have been among the top performers in the EU banking sector, flourishing at home, where they have profited from a surge in the freed-up loans market.Economy and finance minister George Alogoskoufis recently argued that Greece is better placed than most European countries to weather this storm.

“Greece's economy, due to reforms that took place in previous years and the dynamic it has developed, is more resilient than other European countries in this extremely difficult international environment,” he said.This new financial popularity isn’t restricted to the banking sector. Investors that have had their fingers burned by the global stock markets are wary with their funds. Stocks and shares are ultimately worth as much as someone will pay for them, and in this current climate, that amount isn’t nearly the guaranteed outcome it used to be. Where can traditional stock market investors look to place their funds and weather the storm?The answer isn’t a new one; Property. Unlike stocks and shares, property is a tangible asset. It’s not only about investing for the gain, it’s about bricks and mortar. Purchasing property is a very real investment that stands the test of time. Property values peak and trough, but your investment buys you other options.

The rental market is rapidly expanding with high-end luxury property at the forefront of this demand. However, the UK market has witnessed its peak, so the key is where to find that next rising market.Perhaps not unsurprisingly, Greece’s property market is one of the few in Europe to see an increase in values. Strong demand from sun-seeking Northern Europeans added to the thriving local demand. At the beginning of August of this year the Greek authorities said the recent increase in property sales is just the beginning. "Demand for luxury homes within complexes is constantly rising," said Giorgos Souflias, the country's public works minister.Greece is a unique country, half of its territory consists of mainland, with its remaining half consisting of a scattering of islands.

Each island has its own character quirks and charms, some tranquil, some lively, and each has its own property microclimate. "The islands have something for everyone, and they are close to home for Europeans, so foreign interest is strong," said Yannis Perrotis, head of CB Richard Ellis-Atria real estate consultants in Athens.Samos is a beautiful and charming island situated a stone’s throw from Turkey in the south eastern corner of Greece’s territory. Renowned as the birthplace of Pythagoras and for its nectar wine, Samos is a verdant island paradise brimming with quaint character. It also benefits from direct UK flights and a thriving domestic market, boosting rental demand all year round.But despite high occupancy levels, a faithful customer base and increasing international demand, there is one area where the island falters and that is it’s lack of five star accommodation.

In answer to this demand Halcyon Developments are constructing the first luxury five-star marina resort on the island. Halcyon Hills Luxury Resort & Spa has a selection of village-style properties ranging from apartment suites to villas. Off-plan property prices average just €3,500 per square metre.On the popular Aegean islands of Paros, Naxos, Rhodes and Crete, prices can reach €7,000 per square metre. Therefore it is perfectly feasible to assume these prices on completion of the Halcyon Hills Resort, if not more.Investing in property during these tumultuous times is an assured way of placing your funds into a solid asset. Property is a tangible investment that can be fully utilised during your ownership. Not only is your investment secure but purchasing off-plan property means your investment will accrue value during the course of the two-year build time. Once complete, your property is guaranteed an eight per cent rental return for a period of two years.Shrewd investors recognise the opportunities during these tough financial times.

Your money can be as safe as houses if invested in bricks and mortar, all you need do is weather the storm in the right place, because the only certainty in this market is, it will improve.For more see: http://www.goldacreestatesgreece.com/eng/property/new-details.asp?ID=55

Article Propvided by Homes Worldwide