Greece is the second most popular European destination for British tourists, a new survey has revealed...

After surveying 25,000 readers, the Telegraph Travel awards 2008 recently recorded Greece as the second most popular European destination with UK tourists -- more popular than Spain.

In fact Greece was put in second place behind Italy, with 1st and 2nd places remaining as they were in the same survey a year ago. This increases the allure of Greece property as an investment, according to Frank Crowley, director of overseas property specialists Azure Overseas.

Mr Crowley commented: "Though Australia and New Zealand are the readers favourite destinations in the world, Brits have bought more property in Spain, France and Italy than Australia and New Zealand.

"Whatever the reason, cheaper flights, more frequent use of holiday homes etc, the fact is that UK property buyers tend to buy in their favourite European destination than their favourite worldwide destination. Greece's continued popularity with Britons as a holiday destination is therefore very good news for the property market".

Substantial growth

He continued: "It has generated substantial growth in Greek property prices in the past few years, and even now as growth slows because of the global situation it presents the opportunity of earning substantial rental incomes from Greece property.

"On top of that, like many places, off-plan properties in Greece are currently coming onto the market at a lower price than they would have when times are good.

"So even investors should buy a holiday home in Greece; have some great holidays, earn some good money from holiday rentals, and then sell at a massive profit when the development is completed, or when the global property recovery begins, whichever comes first."

Friday, February 13, 2009