It would be possible to write reams and reams about 'investment' property, and many people want their overseas purchase to offer them investment potential as well as a new home or a holiday home in the sun.
There are several ways of looking at this. One is if you are looking for a 'lifestyle change' and have always dreamed of moving to live in the sun and perhaps having a block of apartments, small hotel, restaurant or bar. Generally the first rule of thumb is if it looks to be too good to be true it probably is! Corfu is awash with elderly 1970s and 80s blocks of apartments, built for the boom years of tourism in Corfu. They are usually small studios, basically equipped and furnished, and often on the edge of a village or resort. The temptation is to think that you can buy them and let them as they are. Unless they are right on the beach - WRONG! Usually the reason for sale is that the owners, who probably have many years experience, cannot make them work. This means that unless you have funds for considerable refurbishment as well as the purchase price, you are probably not going to make them work either.
If you budget for a 'refurb' then you are on the right track. With imagination, studio blocks can be transformed into a smaller number of comfortable and well-equipped apartments, offering a home for you plus a letting investment. These days, unless you are virtually on the beach, you need to have space and funds for a swimming pool. Once you have made your transformation, you are ready to begin. An economic choice could be St George Studios where the studios are unfinished but only a very short distance to the beach. An alternative would be Afionas Studios or on a higher budget Kyknos Pension in Doukades.
Another option is to buy just two or three units of accommodation and live in one whilst you let and manage the others during the summer season. Examples are Katsaros Apartments in Pirgi which have stunning views or Kaminaki View Apartments located in one of most sought-after areas of the north-east coast.
For a similar investment to a small block of studios you could buy several apartments with scope for upgrading and then let for a good rental return. Another choice could be a new build - either two or three of the same size or a combination of one and two bedroom homes. Properties like Daffodil, Mimosa and Daisy Cottages in St. George South which would bring in good summer revenues.
Buying a villa to let when you are not using it has always been popular and there are several excellent properties, some of which have ongoing tour operator contracts plus periods blocked off for your own use and represent a steady investment. Typical examples are Verde Blu Villas in Barbati, Rastoni in Vigla, Villa Cicada in Kalami or Villa Serena in Avlaki. Any one of these fit the bill perfectly - offering a tried and tested property, with a good letting history.
Overall, Corfu offers excellent investment opportunities. Nowhere will you find that you have thousands of other properties in direct competition, as in Spain or Bulgaria. You probably won't find an instant 'get rich quick' solution but you will find a great selection of possibilities to offer you either that all important 'lifestyle change' or even just a perfect holiday home which not only pays for itself but also represents a steady investment and provides all your family holidays into the bargain. What more could anyone ask?
Diana
There are several ways of looking at this. One is if you are looking for a 'lifestyle change' and have always dreamed of moving to live in the sun and perhaps having a block of apartments, small hotel, restaurant or bar. Generally the first rule of thumb is if it looks to be too good to be true it probably is! Corfu is awash with elderly 1970s and 80s blocks of apartments, built for the boom years of tourism in Corfu. They are usually small studios, basically equipped and furnished, and often on the edge of a village or resort. The temptation is to think that you can buy them and let them as they are. Unless they are right on the beach - WRONG! Usually the reason for sale is that the owners, who probably have many years experience, cannot make them work. This means that unless you have funds for considerable refurbishment as well as the purchase price, you are probably not going to make them work either.
If you budget for a 'refurb' then you are on the right track. With imagination, studio blocks can be transformed into a smaller number of comfortable and well-equipped apartments, offering a home for you plus a letting investment. These days, unless you are virtually on the beach, you need to have space and funds for a swimming pool. Once you have made your transformation, you are ready to begin. An economic choice could be St George Studios where the studios are unfinished but only a very short distance to the beach. An alternative would be Afionas Studios or on a higher budget Kyknos Pension in Doukades.
Another option is to buy just two or three units of accommodation and live in one whilst you let and manage the others during the summer season. Examples are Katsaros Apartments in Pirgi which have stunning views or Kaminaki View Apartments located in one of most sought-after areas of the north-east coast.
For a similar investment to a small block of studios you could buy several apartments with scope for upgrading and then let for a good rental return. Another choice could be a new build - either two or three of the same size or a combination of one and two bedroom homes. Properties like Daffodil, Mimosa and Daisy Cottages in St. George South which would bring in good summer revenues.
Buying a villa to let when you are not using it has always been popular and there are several excellent properties, some of which have ongoing tour operator contracts plus periods blocked off for your own use and represent a steady investment. Typical examples are Verde Blu Villas in Barbati, Rastoni in Vigla, Villa Cicada in Kalami or Villa Serena in Avlaki. Any one of these fit the bill perfectly - offering a tried and tested property, with a good letting history.
Overall, Corfu offers excellent investment opportunities. Nowhere will you find that you have thousands of other properties in direct competition, as in Spain or Bulgaria. You probably won't find an instant 'get rich quick' solution but you will find a great selection of possibilities to offer you either that all important 'lifestyle change' or even just a perfect holiday home which not only pays for itself but also represents a steady investment and provides all your family holidays into the bargain. What more could anyone ask?
Diana
