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Introduction

Mainland Greece and the Greek Islands have proved to be a popular tourist destination for many European holidaymakers of the years. Similarly, sales in Greek property are equally appealing due to the Mediterranean sun, ancient heritage, breathtaking landscapes and low cost of living.

Geographically, the Greek mainland is situated in central Europe at the Southern end of the Balkans and consists of the Peloponnesus peninsula and a number of small islands (approximately 1,400 off mainland Greece) including Kos, Rhodes, Crete, Euboea, the Dodecanese and the Cycladic groups of the Aegean Sea in addition to the Ionian Sea islands. Mainland Greece has approximately 15,000 kilometres of coastline with a land boundary of 1,100 kilometres.

Although there are a large number of Greek islands, there are three main islands in terms of popularity amongst foreigners wishing to purchase housing. These are Crete, Corfu and Rhodes, with Crete currently the most popular area. Other smaller islands that are gaining popularity are Kefalonia, Zante and Korinthos.

The 2004 Olympics held in Greece led to property prices increasing in Athens by approximately 66% as compared to the previous 5 year period according to the UK based Halifax building society, whilst the price across the rest of Greece was 47%. Even with these seemingly large increases in property prices, buying a property in Greece or the Greek islands is inexpensive when compared with the average prices of property in countries in Western Europe.

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