The Greek Holiday Home Market: Current and Future Trends

The Greek holiday home market never used to be flavor of the month, however, over the past decade it has joined the handful of established Mediterranean second home destinations.

A buoyant market on a human scale...

Since the Greek property market opened to foreign buyers in the early 1990s, thousands of holiday homes in Greece have been coveted and ultimately purchased by British, german, and other western European buyers. During the same period, the Greek property market has enjoyed steady growth rates of 8-12%. The Greek economy is, notably, one of the fastest-growing in the euro zone; and, thanks to the countrys stable and predictable economic growth, the real estate market can be relied upon to grow at a realistic pace as well, rather than in extreme upswings and drastic downturns all too often seen in up-and-coming markets.

Though pocket change is hardly enough to buy property in Greece, holiday homes here are, by comparison, still an excellent value for overseas buyers in search of that ray of sunshine and the downtempo lifestyle that goes with it. These are available in abundance; in fact, Greece is the perfect alternative to the traditional Mediterranean favorites: it is accessible, safe, beautiful, loaded with character, and prices in like-to-like comparisons of Greek and French or Spanish property can be up to 50% lower. There is a large variety of holiday homes for sale, but massive residential developments are not the norm. In most cases, summer homes in Greece retain their local style since, as a rule, the most sought-after locations for second homes are the islands and smaller villages where because of building rules, properties built are in the local traditional style. And, for supporters of green architecture, the sublime climate in Greece provides the perfect grounds for bioclimatic structures, maximizing the benefits of sun and breeze to create energy-efficient, sustainable homes with reduced maintenance costs.

Since a significant percentage of holiday home buyers originate from Western Europe, it comes as no surprise that a lot of new construction is customized to suit these buyers preferences. The concept of homes that are ready to wear has caught on, as travel times between Greece and the rest of Europe have diminished and popping over to Greece for a weekend is no longer utopian; fully equipped homes, sold turnkey with everything from furnishings to linens and cutlery sets, ensure that the fortunate owner can spend all weekend by the pool rather than curtain-shopping for the house. Similarly, the concept of Buy-to-Let properties is taking shape; while property management and guaranteed rentals are in an early stage of sorts, they are increasingly available in, primarily, tourist-savvy locations. This is an important feature, considering that holiday homes usually belong to absentee owners wondering how to make the most out of their investments while, at the same time, enjoying the peace of mind that comes with knowing their property is looked after while they are busy working to fund it.

It is rather unfair that Greece, one of the most mountainous countries in Europe, has settled in peoples collective conscience strictly as a Sea-and-Sun destination. As a result, the overwhelming demand by overseas buyers is for summer homes, with seafront properties carrying the respective price tag and giving credence to global real estates Location, Location, Location mantra. Still, inland traditional and newly-built properties abound and they are an excellent alternative for those who cant afford a seaside property, but dont mind driving to the beach and yearn for an insiders take on the famously relaxed village life. After all, even on the larger islands, the beach is never too far away.

Whats next?

Is this buoyant market heading for a plateau anytime soon? Well, as in most situations, the answer is It Depends. At the moment, Greece is basking in the limelight. The 2006 tourist season ended with a record number of tourists visiting the country (an 8,5% increase compared to last year, according to The Economist), a promising statistic after a slower tourist influx in the previous couple of years, and despite the lack of any long-term marketing campaign on a national level. It is imperative that Greece waste no time capitalizing on the momentum generated by the very successful 2004 Olympic games and the subsequent, priceless, visibility abroad. Furthermore, developments in Greek Real Estate are teeming with promise. Demand for holiday homes is expected to outnumber supply, keeping property prices rising, and real estate professionals expect holiday home prices to increase up to 10% over the next few years. It is no coincidence that so many large development companies with solid track records in commercial and urban real estate have delved into holiday home projects; their high quality developments with a western flair in select locations aim to attract discerning foreign buyers and investors.

Improvements in infrastructure and construction, largely because of the 2004 Olympic games, have been tremendous. Thanks to new transportation and road networks, travel times have diminished and previously remote areas are within reach. Soon to be completed is one of the largest road construction projects in Europe, the Egnatia Motorway in northern Greece; a gateway to southeast Europe and the Balkans, it will provide a quick East-West link. Other significant developments with a favorable impact on the Greek holiday home market include:

 A nationwide Land Registry in progress which, upon completion, will greatly simplify the home buying process
 ADSL / Broadband internet connections are now widely available and enable individuals to conduct business away from home
 Mortgages with low interest rates are also widely available to both Greek and foreign buyers
 Improvements in the leisure industry, such as golf courses, which are gaining in popularity and becoming the highly marketable focal point of many new developments

Naturally, all that glitters is not gold. Newly introduced taxation laws (Capital Gains and/or Value Added Tax on select properties) may, according to some, have a deterrent effect on property purchases; whether or not this will be the case remains to be seen. Also, Greece must keep working to remain on the map of competitive Mediterranean real estate. The truth is that with the exception of a marketing campaign around the time of the Olympic games, Greece is unfortunately not advertised enough, however the countrys list of charms is long:

 Clean, beautiful beaches
 A perfect 4-season climate
 Low crime rate
 A stable economy and long-standing EU membership
 Lack of internal strife
 Ancient history and a world-renowned culture
 An all-around very high quality of life
 Untapped potential of winter tourism

An overseas homebuyer usually visits Greece, and first falls in love with it, as a tourist. More tourists equal more homebuyers its a simple logic.

Just as important, on the service level, is the need for integrity and professionalism. The real estate sector is no exception. The estate agents experience, professional affiliations, and language / communication skills (especially for foreign buyers) are of key importance for a painless, fruitful homebuying experience. The good old word of mouth way of finding a reliable estate agent is still, probably, the best way. The Hellenic Association of Realtors, the only official body recognized by C.E.I. (the European Confederation of Estate Agents), is another recommended starting point. After all, for most of us buying a home is the purchase of a lifetime; skimping on our homework at the last minute is definitely the wrong approach!

Katerina Roussou works with Property Greece Ltd., a group of Real Estate / Insurance Agencies throughout Greece. For more information on buying property in Greece, or to browse Greek property for sale, please visit http://www.propertygreece.com. Questions? Feel free to send an email to info@propertygreece.com

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Back Pain Essentials - What Do You Need To Do Now!

When you first suffer back pain, are you one of those people who wait to see how things go? Are you someone who lives in hope that your back pain will miraculously disappear overnight? Don't worry you are in good company as the majority of back pain sufferers do the same.

It is a common thing to do, because most back pain will settle by itself within a few weeks. But what if it doesn't?

Are there things you can do to make sure it disappears within a few days or even possibly within a few hours? After all who wants to wait and hope that your back pain will disappear after a few weeks anyway?

So what can you do?

One of the simplest things is to use ice. Yes plain cold ice. If you use ice in the first 48 hours most back pain will ease and disappear within that time, and sometimes within the day.

Now please remember, if you have had a fall or major injury, use ice - but use it on the way to see your doctor or hospital. It is still essential to be checked over, if you have had an injury that has led to back pain.

But let's assume it is a minor injury, you have spent too much time in the garden, lifted one too many pieces of wood, work too hard or something similar

As soon as your back pain occurs, put ice on it. Ice works as an anti-inflammatory and pain reliever. Most back pain initially loves ice. It will help it heal and remove pain quicker than anything else.

What you need to do is this

Put ice on the area of pain; leave it on for ten minutes only. Then place heat on the area, again for ten minutes only. Then repeat this process and finally finish with ice for another ten minutes.

After 48 hours then finish with heat, as heat improves the blood supply and eases muscle tension. Most times you will not need to do this as your pain would have disappeared.

If you apply the ice/heat treatment every few hours, then within the day the majority of back pain will disappear. Even if it is a minor back pain issue, still use ice. It is people like you and me, who wait a few hours or days to "see how things go" who end up having pain for weeks.

Early intervention is the best approach for all back pain. Using ice is one simple technique you can use that can limit the time you spend in back pain.

This does not mean the process ends there. What you now need to do is learn ways to prevent your back pain occurring. Most back pain occurs not from large falls or injuries. It arrives after doing normal common everyday activities. Activities you have done a hundred times before. Yet today your back pain arrives.

For this to happen it means tension and stress on your muscles and joints has increased over days, weeks or months. Today is the day an overload occurs and back pain happens. Sure ice will ease your back pain now, but you need to learn simple and highly effective ways to remove and prevent back pain permanently.

Dr Graeme Teague is an expert in the structural field, and has been in practice since 1991. His newly launched web site The Back Pain Advisor - http://www.back-pain-advisor.com - strives to give you valuable and expert advice, tips and information on your back pain isues.

For more information on back stretches, just visit Back stretches - http://www.back-pain-advisor.com/back-stretches.html

Receive a free e-book on back pain when you subscribe to our newsletter, just click here - Back Pain Adviser - http://www.back-pain-advisor.com/back-pain-adviser.html

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Indianapolis Semi-Pro Football Team Wins National Championship

The Hoosier Hurricanes invaded Homestead, Florida for last weekends 4th annual minor League football News (MLFN) Super football Weekend strong winded and left with reign.

In a game dominated by defense, the Hurricanes hammered the Carolina Express 41-0 to win MLFNs AA national Championship.

To reach this point so quickly is incredible, said Hurricanes head coach john Starlin. I really feel like a proud father to all of those guys.

While the Canes offense was strong, the play of their defense was dominant. The Canes forced eight turnovers and controlled the Express offense, which towered over them in size and power. Early in the contest, it looked like the Express were going to use their Power I offensive attack to run right down the throat of the Canes defense. When the Express were forced to throw, however, the speedy hurricane secondary was able to take the game away. The first of four Express interceptions was thrown on that opening drive, and the Hurricanes never looked back.

They were a tough team to scout, but I really think they underestimated our speed, said Starlin. Other coaches from their league were able to help me out as far as scouting, but I knew as solid as our defense was that we could play with anybody.

Staying with the defensive theme of the game, linebacker Deon Smith was awarded the games MVP for his 12 tackle performance. He also intercepted a pass and forced a fumble.

The AA national title was the perfect end to a season that was already storybook for the indianapolis squad, founded by co-owners Starlin, david Day, and nfl wide receiver Reggie wayne. In their first year of existence, the Hurricanes were awarded best New Team in the Midwest by MLFN after finishing 13-1 in the ohio valley Football league (OVFL). Their OVFL season finished with a Super bowl victory over the Charlotte (MI) Roughriders, 21-0.

This has really been a dream season for us, said Starlin.

Starlins players have also won numerous accolades from MLFN. Four Canes were honored with Midwest All-American status: Derrick Ellis was an honorable mention Midwest All-American at running back, wide receiver Scott Penick made second team Midwest All-American, and Corey Crumpton and Charles Avant were first and second team at defensive back, respectively.

Ellis, a former Mr. Indiana while playing running back in high school, was also named Running Back of the Year in the Midwest Region by MLFN.

The Hurricanes will return to the OVFL next season and compete to become the first ever back-to-back champion in league history, a feat no team has accomplished in 40 years of competition.

"We are trying to develop something special here," said Starlin.

It certainly looks like the Hurricanes are off to a roaring start.

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