Messinia – An Investment Hotspot

The latest area to become of interest to investors and developers in Greece is ‘Messinia’. It is located on the southwest of the Peloponnese where many larger parcel of development land are available. Particular attention is focusing on the areas of Finikounda, Methoni and Pylos. An area full of cultural history, outstanding natural beauty and some of the best beaches in the whole of Greece.

Why the Interest in Messinia?

Interest has increased largely because the Government is actively encouraging investment in Greece with new laws aiming to stimulate local revenue. Messinia is one of the largest areas to benefit from these plans.

* Golf Tourism Developments in Messinia
Petros Doukas, Deputy Minister of National Economy and Finance and Minister of Tourism Dimitris Avramopoulos are keen to see more golf opportunities. Messinia is of direct interest to this campaign and planning consent has been given for 4 new golf courses in the area. There will be 2 international 18 hole golf courses at Pylos and Romanou and 2 smaller 9 hole golf courses at Rizomilo. They are due to open in the spring 2008. This will bring an international cliental all year around.

Studies have shown that more than 200,000 visitors to Greece annually are potential golf tourists. It is easy to understand the current interest to develop this high-end attraction in one of the world's most attractive climates.

* New Road Plans for Messinia
In addition and in accordance with the government’s guidelines for the ‘Good Road Plan’ a new motorway is under construction from Tropoli to Kalamata and is nearly completed. This will increase accessibility from Athens, directing traffic to the Messinia area and the commercial port of kalamata. Another new major road is planned between Kalamata and Methoni further opening up the area.

* New Marine Planned for Velika
Kalamata currently has one of the largest and best yachting marines in the whole of Greece. Many people choose to moor their yachts here over the winter. This has two effects for Messinia. Firstly, these people often buy houses to reside in during the winter. Secondly, Kalamata marine has more business then it can deal with. Hence, there is a new marine planned for Velika which is situated between Kalamata and Petalidi.

* The City of Kalamata
Kalamata has its own airport approximately 6km from the town providing direct access for visitors to Messinia. Also there are regular trains and express bus directly to Athens and connections for Athens Airport. The city of Kalamata is the main city for the southern Peloponnese. It has all the modern facilities that you would expect to find such as hospitals, doctors, schools, banks, theatres, cinemas, gymnasiums, sport facilities, hotels, restaurants, bars, all main shops, etc.

All in all, Messinia is set to be the next big boom area and is already a favourite with foreigners buying holiday homes and second homes. Hence the property prices in this area are increasing rapidly.

Who’s Buying Property in Messinia

Each year thousands of foreigners are choosing Greece as the destination to purchase property for permanent homes or as second homes for their holidays. These people are mostly British, Germans and Americans although there are increasing numbers of other foreigners appearing such as Canadians, Dutch, Czechoslovakians, Austrians, etc. Despite property prices in the Kalamata area rising by 30 per cent last year, which is above the national average of 10-15 per cent. Foreigners are still snapping up property for sales. Most of the foreigners who are looking for property for sale have visited Greece previously as tourist holidaying on the Peloponnese peninsular. A large number of pensioners have settled and brought homes to live in permanently. However, we are increasingly seeing younger couples or those with young families purchasing property, settling down and making a new live for themselves.

Government Fact and Figures for Messinia

According to the Greek National Land Registry, there are some 1,750 properties and estates in Messinia that are owned by foreigners. There are already many British people with holiday homes on the Mani peninsular where the government is now discouraging further development. However, there are relatively few that have ventured as far as the Messinian peninsular, thus the government is actively encouraging new developments here to stimulate foreign investors and home buyers.

Government Incentives

The government is allowing large parcels of agricultural land to be turned over to tourism making them a desirable long term investment. House may be built on such plots and rented for 7 years providing a substantial rental income. After which they can be sold off individually to regain capital. Then a further income maybe obtained from facility management.

Other Investment and Development Opportunities

* Other large parcels of large land are being turned over for development of complete villages. They would include houses and facilities such as shops, restaurants, bars, pools etc. They can be sold on and provide holiday or second homes for the increasing number of foreigners looking for property in the Messinia area. Finikounda, Methoni and Pylos are proving to be a favourite holiday home hotspot for foreign buyers.

* Another investment opportunity is to purchase a plot of land which would allow a permit for a hotel. With 4 new international golf courses opening in the area this is a potential goldmine.

Messinia an Investment Goldmine

Now is the perfect time for business people to consider Greece as an investment location. Investment properties are readily available in Messinia. They are to be found in the most superb locations with outstanding and unobstructed views that must be seen to be believed. The Government is actively encouraging economic growth in Messinia through new legislation. It’s also increasing local infrastructure and allowing new developments to stimulate revenue and jobs in the area. Investors can get in at the ground level and tap into the already proven foreign buyers market which is heading for a huge boom period. This translates into unprecedented opportunities that will pay off handsomely.