Why invest in Greece

Greece Property Investment

Many of us have seen the news surrounding Greece and their current economic problems.... So why would an investor put their confidence in Greece?

There are some reports that Greece will be leaving the Euro, however this has not been currently confirmed. If this were in fact the case, it would mean that like with our own currency, Greece would be able to lower their currency rate to help pay back the deficit. It would also mean that tourism would boom as holiday makers will want to take advantage of the good exchange rate. Please do not confuse leaving the Euro as leaving the EU, these are 2 separate things and Greece will not leave the EU.

The developers EU funding for touristic developments has not been affected. This funding is in place due to the fact that the Government will benefit from our resort opening, creating a high level of employment, thus gaining from taxes, not to mention that upmarket tourist destinations bring high revenues to the country. Since the Greek deficit, the funds have been ring fenced by the EU as the one industry that they need to grow is tourism - 1 in 5 Greeks are employed in the tourism industry (almost 18% of GDP) and it is one of Greece’s biggest revenue generators. I would like to mention that even if we didn’t receive the funding; due to the high volume of sales made to date, we are in a fortunate position to be able to complete the resort unaided.

Holidaymakers still love Greece and will still holiday there, whatever the economic climate is - visitors love the history, culture, weather, food, and scenery. Greece remains in the top 5 destinations for Brits and the top 15 tourist destinations worldwide and it will continue to attract tourism. Recent figures from the World Travel and Tourism Council confirm that this is still the case - 20 million visitors stayed in Greece last year which is why the government have an initiative to increase upmarket tourism by 2013 (focusing on 4 and 5 star accommodations)

Greece also has one of the strictest build co-efficient in Europe meaning that you can ordinarily build on only up to 5% of a plot of land (it can be up to as much as 80% in Spain!) this coupled with the fact that Greece has not provided any sub-prime lending means that the property market remains largely buoyant and stable. It also means that there will not be the saturation of new builds that has appeared in many other popular destinations hindering resale potential. If you are wondering how we are able to build our resort with such a strict build ratio, we are allowed to build on 20% of our land due to the fact that we are building a 5 star tourist project.

As you can see this investment is based on tourism in an area of increasing demand, which is why we are receiving the EU subsidy funds. Tourism will be unaffected by the economy and the fact that Greece limits the amount of properties built in an established property market is great news. As we are pre construction, our build costs have now lowered; this is the reason we are able to offer the guaranteed buyback meaning that investors who purchase at this time are getting a fantastic investment and we are personally guaranteeing a future value of the investment along with an exit strategy for a limited time.

The Developer has been trading for over 7 years with a proven track record of completing and handing over 2,500 properties worldwide. The developer is a founder member of the AIPP (Association of International Property Professionals), the regulatory body for international property developers and agents. The developer has a fantastic reputation for delivering high quality properties and excellent customer care.

If you have a look at our website you will be able to see the role of the AIPP in protecting you and your investment http://www.aipp.org.uk/ As with both of our projects we will be involved in the running of the hotels long term. We have a vested interest in making the development a success as we will retain ownership of the facilities such as the world class spa, food and beverage etc, we will also take a share in the profit of the room revenue ongoing.

More good news is that a brand new film that is being shot on Samos. Movies are fantastic at generating tourism, we couldn’t have asked for anything better to happen in Samos, the cast includes John Malcovich, Ben Kinglsey, Brendan Frazer and Rachael Weisz!

What the tourism industry is saying?

The Greek government's attempt to stimulate growth in tourist industry starts to pay off as hotels and ferries fill up with holidaymakers. The economy is tanking. The government is on the brink. The treasury is fending off market vigilantes and credit downgrades. The capital is seething with protest by day, desolate and derelict by night, but as far as tourism is concerned Greece is not merely open for business, it is expecting a bumper year. And for visitors this summer, the country promises to be one giant bargain. Hydra is a case in point. The hydrofoils and ferries across the Saronic Gulf to the island are packed. "Hydra is as popular as it has ever been," says mayor Angelos Kotronis, seated before an array of oil paintings conjuring the glory of the island's seafaring past. "Our hotels are full, our shops are full, and the boats are full. We're not complaining."

By Helena Smith in Hydra