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Properties for sale - Rhodes as a location

With a length of 78 km, Rhodes is the largest island of the Dodecanese and the Greece’s fourth largest island. In addition, the archipelago also comprises islands such as Kos, Chalki, Symi and Karpathos. More than 150 km of coastline, over 3,000 hours of sunshine per year, breathtaking landscapes and its remarkable history make the main island of the Dodecanese the country’s primary tourist destination. Important past and current projects have resulted in the strong development of not only Rhodes but the whole of the Dodecanese. Due to the increased demand in the high-growth yacht sector and the planned development of the infrastructure, Greece is subsidising the construction of new marinas, including the marina on Rhodes with an estimated capacity of 500 boats (according to the Greek National Tourism Organisation). The island of Kos already boasts a functioning marina. Rhodes discovered the potential for golf early on, as the island is home to one of Greece’s five 18-hole courses, which is located in the Afandou region. The golf course is situated directly by the sea and a meeting place for upmarket clients of the business community. The infrastructure on the island was in parts improved by the project to extend the road links between Rhodes Town and Lindos. The dual carriageway is the main link between the north and south of Rhodes. The works on the route between Faliraki and Kolymbia have for the large part been completed. Next, the road between Kolymbia and Lindos will be improved. The total investment volume is approximately 3.8 million euros. The largest construction project of the Aegean is Rhodes’ Gadoura Dam to preserve groundwater. A pipeline takes the water all the way to Rhodes Town. In addition, a local recreation area with new roads is planned for the area around the reservoir. The project costs amount to approximately 100 million euros. The current financial crisis has lead to a decline in the real estate sector, particularly in 2009, which is mainly a result of the low number of loans issued by banks. However, this tendency can be observed both nationally as well as abroad. The region’s development potential is reflected in the increased interest of foreign investors. For example, Irish airline Ryanair has included the islands of Rhode and Kos, among others, in its programme when selecting its new routes. The decision to purchase real estate on the island of Rhodes should not only be seen as an investment. The local conditions (private schools, a private hospital) and the fact that the island is one of Greece’s safest regions also support Rhodes as the location of a first or second home. A further advantage and an additional security for real estate buyers is the existing cadastre, which came into being during the period of the Italian occupation and is still maintained with great precision.

Engel & Völkers

Rhodes
Ammohostou 18
85100 85100 Rhodes
Greece
Phone
+30-22410-794 10

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