Demand for luxury housing on the Greek island of Rhodes grew by 30%, Engel & Völkers Company said in their report on the island’s market in 2013. The number of requests has been growing continuously in recent years.
Investors from Russia and the Middle East started showing great interest to villas on Rhodes. This is due to the facts that Greek real estate market hit the bottom because of the crisis, that tax on the purchase of land reduced by 10.3 % and the issuing of the "golden visa" in exchange for investment in real estate - a law which operates in the country since 2013, informs portal ee24.com. Holiday houses on Rhodes are also popular among wealthy Greeks living abroad, as well as among citizens of Germany, Switzerland, Belgium, Austria, and the UK.
According to local realtors, the prices for elite properties on Rhodes are 10-20% lower than the pre-crisis level, although in the whole of Greece these figures may reach the level of 30-40 %. It is expected that in 2014 prices on Rhodes will rise, as the number of offers is limited.