Greece is once again facing a deadline to reach an agreement with its EU creditors to stay within the eurozone and secure more financial support. While a new deal remains elusive, though, buyers appear confident in the country's housing market, thanks to the weak euro and affordable prices.
According to a recent report from TheMoveChannel.com, concern surrounding the eurozone crisis has prompted demand for Portuguese and Italian property to fall in the past month. The popularity of France among overseas buyers has also hit a record low. Greece, though, climbed one place in the portal's monthly "Top of the Props" chart to become the 16th most popular destination in the world.
Agents on the ground have also reported a positive start to the year, with Ross Michaelides, Partner at Buy and Sell Estate Agency, telling TheMoveChannel.com that they are "looking forward to a good summer season". Beauchamp Estates in Mykonos says that lettings demand and revenue has doubled this summer.
Indeed, the US dollar and pound sterling are at 12 and 7-year highs respectively against the euro, offering opportunities for affluent groups and families travelling to Mykonos, who are often seeking villas for more than â¬35,000 per week. Through exchange rate movement, British tourists paying that sum this year are getting a 10 per cent discount compared to last year when paying in pounds sterling, and it is 18 per cent cheaper for visitors paying in US dollars.
This has increased tourists' spending power in Mykonos, where boutique shops, yachts, beach parties, fine dining and luxury accommodation has consistently drawn ever increasing numbers of tourists from across the Middle East, Europe and North America.
"It is, therefore, no surprise that there has been an increase in demand from the US market this year," says the agency.
"In Mykonos, we have seen 'business as usual.' This week, we have continued to see buyer enquiries from across the world, while many of our top lettings properties are already fully-booked for the entire summer," commenets Roi Deldimou, Managing Head of Beauchamp's Mykonos division.
"While there are some restrictions in place regarding capital movement that is affecting locals, there is currently no change for Mykonos' visitors whose lifestyles remain unaffected by the economic and political situation."
Photo: GuzmÃ¡n Lozano