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Rhodes: Greek investment incentives fuel property price rises

The market for quality holiday properties in Rhodes is currently undergoing a period of growth – partly due to a drop in land tax and the introduction of residency permits.

After considerable fluctuations on the Greek property market resulting from the Euro crisis, agent Engel & Völkers has been registering a continuous rise in enquiries for prestigious residential property since 2013.

They report that the high level of demand is sending prices soaring contrasts with the lower end of the market where there are still hefty price reductions available.

Rhodes, the largest of the Dodecanese Islands, is a mix of lively resorts, great beaches, wooded valleys and ancient cities. Picturesque Lindos, with its sugarcube houses tumbling down to a turquoise sea, is a highlight.

Engel & Völkers attributes this Greek market development, amongst other factors, to general worldwide uncertainty resulting from the instability of stock markets and many people’s wish to invest in stable tangible assets as a result...

 

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