Hartlepool, United Kingdom (PressExposure) July 17, 2009 -- Greece has been recommended as one of the safest places in Europe for property investment. Overseas property specialists Azure Overseas have highlighted the countries stability and prominence in international history as a reason to predict long-term property price growth in the country.
Azure director Frank Crowley said: "Between the Greek gods, Greek Mythology, the Parthenon and the Acropolis, Greek history is among the most prominent and revered in the world. Yet property is comparatively cheap on a like for like basis to other places in Europe, comparing a property that would cost Â£200,000 - Â£220,000 in Spain during high times, was being sold in Greece for Â£150,000 - Â£180,000.
"The important landmarks will prevent over-development in those regions, and the country's importance in Europe will ensure property prices grow over the long term. Also tourism to Greece has grown massively in the last few years, and will continue to do so. This means that rental yields in the country are strong and growing."
Les Calvert director of Property Abroad.com concurred with the statements and added:
"We have seen activity increasing, more people searching for property in Greece. The international downturn has led to bargains, and there are also a few repossessed properties knocking about. The Northern Europeans are in there trying to get their place in the sun at a knock down price."