Right time to buy property?

It depends. On the type of property, the local market, the terms of the deal and the professional you rely on. Here's more current facts about the Greek property market:

Land

'No-one ever made a loss on buying land.' So goes an old motto in the Greek property market and indeed buying land is still largely considered the safest investment option.

Good location, easy access, proximity to amenities and clear property titles are what you should be looking for – banal as this might sound.

Houses

Off-plan properties are a flexible choice, provided you get a reliable developer. Buying a house based on its plans allows you to secure a good price on the property and slowly put together the capital.

You also save up to 85% in taxes and fees. Then by the time your house is ready, the market should offer more profitable capital gains.

Greek market

Individualities keep the Greek market afloat. Climbing fast up the property ladder has never really caught on in Greece. Greeks are known to buy land for investment and build their homes for keeps.

This helps keep property prices relatively constant. So don’t judge Greek property by standards that apply to nervous markets, typically the UK – apples and oranges.

Window of opportunity

Greece has not remained unaffected by the global credit crunch, let alone its own financial woes. Property prices have gone down over the last couple of years – a mild drop relative to other markets.

But what with the recent austerity measures the Greek government have introduced to strengthen the country’s economy, Greece may well be the right place to buy property at a fair price and at the right time to get more for your money.