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Foreign buyers attracted to Corfu

Thu, 17th Apr 2014

This is a recent article from a property analysis group: Corfu's position as a high end recreation destination means that its property market has proved resilient when set against the markets of mainland Greece, according to a new analysis from real estate firm Savilles.

Prices are down by around 30% from their former highs in the desirable north eastern coast of the Greek island, but this is much less than falls in excess of 50% in mainland cities.

The analysis suggests that the market seems to have bottomed out so good deals are on offer. However, it points out that demand is selective and turnkey properties are favoured, while the market for building plots has all but disappeared.

British, German and French buyers account form most of the purchases and most sellers are Greeks. The recent introduction of a golden visa programme is anticipated to generate interest from Chinese and Russian buyers in particular.

I have to say that's not exactly our experience, although certainly the market here in Corfu has not suffered as much from the economic crisis as mainland Greek cities. The best properties in seaside locations are still in demand. Also we do have requests for new builds, since many buyers really want to be a part of the design and creation of their new homes, and with reliable professionals, they can achieve this.