The government entices property buyers with lower property taxes.
Handelsblatt, one of the leading economic newspapers in Germany, dedicated an article to the Greek real estate market, in its printed edition of 07/02/14. The CEO of Engel & Völkers Rhodes, George Petras, was quoted as saying to Handelsblatt that second home market buyers do not usually rely on credit institutions. Additionally, the lowered land transfer tax is in conjunction with the easing of the property market resulting in an increase in prices.
“Georg Petras also sees a turn around in the holiday home real estate market.” Prices within the medium and high-quality second home market in regions such as the Peloponnese and on the islands are now stable and will rise later on this year,” predicts the Swabian German-Greek who directs the real estate office of Engel & Völkers on the island of Rhodes .”
“Petras strongly advises potential clients, not to look for properties on their own, because in Greece quite often the ownership of real estate can be extremely complex.”