Greece

With its sandy beaches, white-washed villages, olive groves and more than 2,500 islands, Greece should be one of the leading destinations for British foreign home buyers in search of a place in the sun. Despite substantial British expat enclaves in certain areas, it still lags way behind Spain and France and risks being overtaken by Croatia, Bulgaria and the other new kids on the international property block. After a few lacklustre years, the market picked up last year, but there have been none of the spectacular rises of the sort seen in Spain or France – or even on the nearby island of Cyprus. Property remains relatively cheap by Western European stands and can be attractive as an investment. Mortgages are easy for foreigners to obtain, with rates typically of around 4% and up to 75% loan-to-value. Most foreign buying interest has been concentrated on the islands rather than the mainland; but look carefully at the transport links if you are buying a property intended as a holiday let. This might mean sticking to the larger, better known islands such as Crete, Corfu, Rhodes, Zakynthos, Kos or - for fans of Captain Corelli's Mandolin - Kefalonia. Athens could be attractive for the investment buyer.

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