Welcome
to the Greek property news that we have introduced on our website.
We feature here articles, news and statistics that relate (directly
or indirectly) to values, availability and legal framework of purchasing
property in Greece. We hope you will find this section useful, whether
you are a prospective buyer, an investor, a private owner or a member
of the press.
Greek
Property News 2009
Greece
rates high as a holiday destination for British tourists
(Source: Foreign & Commonwealth Office)
The F&CO has released figures for countries
visited by British tourists in 2008. Greece comes fifth with almost
2.3 million British visitors. The top four countries are Spain,
France, Italy and the USA.
New
charter flights to Volos
(Source: http://flights.monarch.co.uk/cnt/news)
 Monarch
Airlines have announced new charter flights to Volos, via Skiathos,
for Summer 2009. The flights will depart from Gatwick and Manchester
each Friday between 15 May and 09 October. Monarch is the first
UK airline to fly to this area, one of the most beautiful in Greece.
Volos is the capital city of the prefecture of Magnesia where mount
Pelion is located, offering a unique combination of crystal clear
beaches and a ski resort less than an hou's drive!
Click
here to see properties
in Pelion.
Plenty of snow this year in all 13 active Greek ski resorts
(Source: www.nylou.com)
It's been a good season for all ski enthusiasts
in Greece, especially those located in the north of the country.
They are mainly used by Greeks but are gradually being discovered
by other Europeans as well, offering an alternative to more well
known resorts in France and Italy.
Resale properties are gaining the advantage with the local Greek
market
(Source: Newspaper Imerisia www.imerisia.gr)
2008 property sale figures indicate that almost 80% of properties
bought in Greece, were resales. Of those properties, 11% were under
5 years old - still new but offered 6-10% less than brand new properties.
As
a result of the increased demand, resale property prices increased
by an average of 20% while new property prices gained very little
against 2007 and they even fell in some areas.
Tighter budgets mean smaller properties!
(Source: Newspaper Imerisia www.imerisia.gr)
In
2008, 70% of the buyers bought a property under 110 sq.m. The most
popular property sizes were 70-90 sq.m. accounting for 25% of all
buyers.
Developers
are responding to this trend, planning for smaller units. The average
property size in recent planning applictions is 70sq.m.
New
allowances for the Unified Property Tax (ETAK) in 2009
(Source: www.estatereview.gr)
The new tax free allowance for single people,
in 2009, is 100,000 euro (calculated on the Objective
Value of the property/ies). For married couples and single-parent
families it is 200,000 euro increased by 30,000
euro if there are more than 2 children in the family. The
new allowances apply ONLY to dwellings (houses and apartments) -
not land. Also excluded are auxilliary buildings/ spaces such as
storage and garages.
For
2008 (due to be paid in 2009), the previous allowance applies: 300,000
euro for properties up to 200 sq.m. in size.
Athens
Tram is extended to Pireaus
(Source: www.kathimerini.gr)
The extension will add 50 km to the tram coverage
in Attica. Works will be carried out in 4 phases and the total cost
is estimated to be 442 million euro. With the new extensions, trams
in Attica will be able to serve an additional 135,000 passengers
and the fleet will rise to 100 trams.
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