Greek property market assessment: although the property prices in Greece have fallen dramatically by 42% since 2008 the Bank of Greece have claimed that in 2017 the prices have now stabilised and is expected to grow by 2,7% this year and by 3.1% in 2018. To revive the housing market, the Greek government recently offered residence to non-EU investors purchasing or renting property worth over €250,000. This is seen as an advantage to experienced property investors making the most of some very attractive investment property currently available.
The average mortgage rates for new loans with initial rate fixation (IRF) of up to one year stood at 2.57% in January 2017, slightly up from 2.35% in January 2015 but far lower than the interest rate of 4.61% in January 2008.
The Greek economy is improving and expected to grow by 2.7% in 2017 and 3.1% in 2018 due to an upsurge in tourism.
Greek destinations: Samos – rising out of the azure Aegean sea, Samos boasts a stunning landscape unique amongst its neighbours. With a rich history of agriculture and a favourite stop off point for holidaymakers exploring the islands. The dazzling white villages and charming family-run tavernas provide a captivating and romantic island life. The island is renowned for its history and archaeological sites including the Temple of Hera and there are many excursions available around the island with the opportunity of visiting the many tavernas serving delicious local delicacies.