Resicom – Holiday Investment – 04-21 – LB

Investing in the Greek Islands

Fiskardo Kefalonia

Many British overseas property investors dream of a laid-back lifestyle in traditional setting, and nowhere can this be found better than the Greek islands.

With over 30 million tourists expected to visit Greece and the Greek islands this year, It is still a favourite holiday destination, and rentals, particularly for beach-fronting houses on the Ionian islands are expected to have high demand.

Many of the Greek islands have their own airports, but demand is also increasing from major airlines increasing their services to Athens, from where a short connecting flight can be taken. Air China has just announced direct flights to Athens, while Emirates now fly directly from New York to Athens.

There are many Greek islands to choose from when looking to invest. Here we look at just a few.


The largest of all the Greek islands, Crete has the majority of its resorts on the North of the island, where there are plenty to choose from if looking to invest.

One up and coming town is that of Rethymno, situated on the north coast in the centre of the island between the two main airports. The traditional cobbled street town features a Venetian harbour alongside a new marina, and also has a 12km-long beach.

There is also easy access to the relatively unspoilt south coast with its quaint villages and beaches.


Corfu was made famous by Gerald Durrell’s book ‘My Family and Other Animals’ set in the 1930s when the author and his family stayed on the island.

Today Corfu has long been a favourite destination of the British, with the main town now a Unesco World Heritage site, whilst other towns offer party central for younger travellers.

Though prices have risen with the island’s popularity, there can still be bargains to be found.

Corfu is also due to benefit along with Kefalonia from investment plans for their airports from German handing company Fraport that has now taken over the running of at least a dozen Greek airports.


Another of the Greek islands to benefit from links to a famous book is Kefalonia. The island is the setting for the World War 11 drama ‘Captain Corelli’s Mandolin’, a book that was later made into a film starring Nicolas Cage.

The largest of the Ionian Islands that also include Corfu, Kefalonia is renowned for its rolling hills covered with olive trees and vines, sandy beaches, white cliffs and turquoise waters.

Fiskardo is the main tourist area of Kefalonia, with its harbour often filled with large superyachts, but move outside and much cheaper options are available to invest.

Continued instability in Turkey is also due to benefit tourism in the Greek islands, with British Airways due to move several of their Turkey flights to Kefalonia for 2018. Flights will now run from the beginning of April to the end of October.

Rental rates on the island are increasing by 3 per cent to 5 per cent per year according to some agents and can yield between 5 per cent and 8 per cent on the investment value.


If you are looking for real peace and tranquillity, then choosing an island without its own airport may be your best bet.

The small island of Kea, part of the Cyclades chain of islands fits the bill nicely. Although without an airport of its own, Kea is only a short ferry hop from the port of Lavrio on the Greek mainland and can be reached from Athens in just two hours.

There are four ancient towns or cities on Kea, including Pisses, Korissia, Karthea, and the capital of Ioulida.

Ioulida is usually the most popular area to buy for overseas property investors. But wherever you buy, you can expect traditional natural stone villas, often whitewashed as they are modernised.

There are many Greek Islands for overseas property investors to consider. This was just a taster and obviously you will need to do further research to decide which Greek island is for you.

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