British expatriates are taking advantage of the severe cash crisis in Greece- by snapping up cheap properties.
Latest numbers from move specialists Rightmove and Moneycorp have revealed that there has been a strong increase in the amount of Brits looking for and buying properties in Greece.
Both the aforementioned companies analyse property trends by looking at search statistics for different regions. A surge in activity for Greece was discovered, as was a dwindle in controversy-hit Spain.
Currency analyst at Moneycorp Olann Kerrison commented on the matter: “This brief strengthening of the pound, combined with the Greek debt crisis, alerted savvy Britons on Rightmove Overseas to the potential that the Greek housing market might hold, once the economy is healthier and stability is regained.”
And Rightmove’s overseas head Shameem Golamy added: “Greek islands, most notably the Dodecanese group including Rhodes and Samos – attracted more than 50 per cent more searches month on month. With Crete also increasing in searches by more than 20 per cent, it's clear that problems in the Greek economy are focusing attention on investment opportunities.”