Build a house, plant a tree and bring a son to the world: that are for many people the true goals of earthly existence. However, many people have hopes and dreams that go far beyond, and for the “normal” sometimes even sound a little crazy. However, this exactly means for this kind of people “live.” If you also belong to the category of the more sophisticated people, one of the items on the list of your life’s dreams could be “buy Greek island“. And here we have good news: you are not that far away from this life dream. On the contrary, today you can realize the dream of your own island in Greece easily.
Greece _ the holiday paradise
Greece has always been a country for holidays of the first class, and many tourists from abroad had in the past on several occasions the opportunity to verify this. Many of the regular or permanent visitors have then – in particular because of the optimal transport links, but also of other locational advantages – step by step even set up their second home here in Greece. Due to the crisis had indeed established in recent years some skepticism regarding the land; this led to a decline in buying interest from abroad. But now this all belongs to the past, and interested parties can buy again without any further thoughts land, property and even Greek islands. If you also take into account that the land prices are now at a very low level, then the time is really now there to think intensively through an appropriate purchase.
Greek island for sale
At present, some Greek island stand up for sale, and it is in many case worth to look at if this is indeed one of your life’s dreams. There are not only objects which are suitable for your own use. Rather, some islands are due to their location and their size ideal for larger tourist facilities. Here the developments of luxury resorts / vacation paradises with marinas, golf courses and other facilities would be conceivable. If you also see the potential for a profitable project development herein, then this might be an argument for an intensive research by use, in which we would be glad to assist you.
With regard to the prices in recent years the wrong impression has established. It was assumed that everything was sold in Greece at special prices to cover any commitments of the owners. The adoption of the investors that the owner would go down with the prices even further, as they probably need liquidity has not been confirmed in recent months due to the strong and stable prices. Prices have stabilized at the lowest possible level, and it is no longer assumed that prices will fall further. The previously announced reduction of property tax for the coming year, on the other hand, could lead to an increase in demand and thus even to an increase in prices. For islands that in any way pose a particular product, there are not existing classic “market prices”.
There are two types of islands that are for sale. On one hand, the private owned, and on the other hand those who belong to the state. The second, in most cases, belong to a portfolio, which is managed by the TAYPED (institution for the privatization of Greek state property). A participation in a public bidding process would be required for this first category of islands, which means also to run a specific procedure. The privatization of these objects will be done according to a decided timetable.
Among private individuals, the flow is usually much easier. Here you can without extensive bidding processes, make islands to your own. Certainly an extensive review (due diligence) is required. However, all necessary procedures including the needed checks will take only a few weeks. It should be noted that the public building regulations has been reformed in recent years. Accordingly, objects are now eligible for approval. This was not so until a few years yet. This is among other things an argument for why this longstanding potential of the private islands was not used till now.
If you have any questions, just contact us here (contact Mavvidis + Partners)!