Optimism for Greek tourism and property

This is part of an article in ‘A Place in the Sun’ property magazine which links some interesting statistics on tourism, to the increase in prospective property buyers, although worth noting is their mention of a 31% reduction in ‘mainstream real estate prices’ which refers primarily to Athens – island and coastal properties have largely suffered much lower reductions.
‘A boom in Greek tourism has led to an upsurge in Greek bargain-hunters, according to property industry sources. 

One of the biggest travel groups in the World, TUI, is set to bring an additional 300,000 tourists to Greece in 2014 compared with this year, exceeding two million visitors.

Tourism professionals are already talking about a new record of 18 million foreign visitors to Greece next year, provided no significant domestic or international developments have a negative impact on Greek tourism.

September and October 2013 also appear to be particularly good, in the wake of a record-setting summer. Some three million arrivals are expected by air in total for these two months.

While tourism booms, mainstream real estate prices in Greece have dropped to 31 per cent below their market peak.

This has led to an upsurge in bargain-hunters, report several sources.

According to the property portal Rightmove Overseas in its 2013 Consumer Survey, Greece is the third most popular destination for people buying to relocate abroad is Greece – not USA, Portugal, Australia or Canada.

Maybe less of a surprise bearing in mind the drop in property prices there, Greece is the fourth most popular place for those buying with investment the main priority – beating Italy, Turkey and Thailand.

In spite of the country’s economic difficulties and those of the eurozone, Greece and its islands offer sun, sea and sand and a unique charm.

Greece is also getting a lot of interest from non-Europeans seeking a fast-track route to EU residency.Greece is giving speedy residency to buyers of any property from just €250,000 ($329,075) and gave out its first property-tied residency to a Chinese man on 8 August 2013.

The cost of living in Greece is substantially lower than in Britain and there are many low-cost flights to the country. And Greece offers something for everyone, from party animals to nature-lovers to people who just want to sit and watch the sunset with a glass of ouzo.’

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