Over the last few years, Greece has been gaining in popularity with the British - especially after the Athens Olympics - as not only a place to go on holiday, but also to invest in purchasing an Overseas property for either retirement purposes or if for Investment/Holiday home the potential of good long and short-term rental returns .
The property ownership and availability in Greece has also been increased by a number of key areas being de-militarised (such as Rhodes, Corfu and Crete) and this has allowed foreign nationals to purchase properties in these areas, which has led to an increase in building projects.
Conti Financial Services Limited (CFS) who had already been arranging lending for Foreign Nationals purchasing residential properties in Greece, have due to the increasing demand now negotiated improved lending terms, including increasing the loan to value to 80% (from 75%) and more competitive interest rates with both Variable and Fixed Rate loans - starting at 3.20% in Euros for the first year - and mortgage terms up to 25 years or age 70.
Tom Foster - CFS's international mortgage adviser responsible for Greece added "This latest improvement in terms is an excellent indication of how Greek lenders have begun to realise the huge potential of the International property market, and are now opening the door to more prospective buyers by modernising their products in line with other EU countries."
With flights available to a number of destinations in Greece by the bargain flight companies such as Easy Jet and Ryan Air, this could be a good time to consider in investing in a Country whose popularity is increasing.
