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Brits Buying On Greek Islands

indexThe islands of the Cyclades, Kefalonia and Corfu rank among the five destinations that the British want to invest in.

Falling prices in the property market of Greece have led  British looking for a holiday home in one of the Cycladic islands of Greece.

According to top estate agents and developers in the UK Rightmove , three of the Greek destinations advertised on its website are listed in the top five places where the biggest increase in searches for homes is recorded.

Specifically, after Ibiza, Spain, the largest monthly increase in searches concerns the Cyclades (37.88%), followed by Kefalonia (35.97%), Florence and Corfu (33, 16%). Overall throughout Greece, Rightmove advertises 1915 properties.

The increase over the interest of prospective buyers is due to the reduction of the purchase cost. According to real estate agency Knight Frank, while in Britain the prices in the housing market are increased by 2.9% in comparison to the third quarter of 2008, Greece has marked a house prices’ reduction by 29% over the same period.

At the same time, Goldman Sachs predicts that in the worst scenario, house prices in the Eurozone will fall another 7% by the end of 2016, while the corresponding minimal increase in Britain is estimated at 10%.

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