Knight Frank global property index came out last week with results for the first quarter of this year. In the main most markets are still going down but a small few went against the trend. The traditional destinations, like the Greek Islands, fared reasonably well overall. The worst falls of property prices were in Dubai and Singapore, where prices fell dramatically. It is clear that property abroad is more affordable these days and savvy buyers or those with cash are seeking out property bargains. Low euro interest rates are also adding to bring back buyers into the market.
The Greek Islands has never suffered the swiping increases nor the dramatic lows of many European property markets. However, the segment did show a small downturn of 1.5% year on year, placing it in 22nd position in the index, faring very well amongst its European counterparts. This is hugely better than the UK where property prices showed a downturn of 16.5% year on year, putting the country 42nd.
The country which performed best was Israel with an increase of nearly eleven percent over the last 12 months. The worst performer of all was Dubai where prices went down hugely, by some 40%.
There are indications coming from experts now that buying activity in overseas property is starting to return. The low prices are encouraging purchasers and enquiries are hugely up for European locations, including the Greek Islands.
