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Greek island property to take off

GB Airways' decision to launch new flights from Gatwick to the Greek islands of Mykonos, Corfu and Rhodes is likely to increase demand for Greek island property as weekend breaks become more practical.

Greek island property to take off

GB Airways – part of the British Airways franchise – launches new direct summer flights from Gatwick to Mykonos on 3rd May, on Thursday and Sundays from £138 return including tax, Corfu on 4th May, flying on Monday, Wednesday, Friday and Saturday from £130 return including tax, and Rhodes on 24th May, flying on Thursday and Sunday from £150 return including tax.

Alan McIntyre, commercial director of GB Airways, said: "Only two years ago we started flying to Crete with two flights a week and this summer we have expanded to 20 flights a week to four Greek islands."

The three Greek island property destinations all have something different to offer short-break holiday-makers and second-home buyers alike. Mykonos is most famous for its nightlife and attracts a young party crowd, as well as families and couples to its beaches and pretty villages. Corfu town has many Venetian architectural delights as well as a Modern Art gallery and also attracts party-goers to the resort of Kavos. And Rhodes offers a medieval Unesco site and has many historical castles, temples and stadiums for exploration, as well as great walking opportunities.

"These additional flights will quickly open up certain locations here as key weekend destinations," said Susan Pelekanou, managing director of Islands Blue Limited. "This is mainly due to the reduction in travel time as a wider choice of entry ports will reduce lengthy ferry crossings."

She continued: "We are expecting this increased volume and flexibility of flights to push up the rental values for Greek island property as there will be more demand from those who want to explore and experience a more traditional or luxury Greece than the charter market has catered for.

"Traditionally, increased access always drives property prices upwards and acts as a catalyst for new investors in the marketplace. We would expect to see the season extend as these flights will improve accessibility from spring through to autumn."

Susan Peters, Sales & Marketing Manager at Cybarco Limited, which sells property on Rhodes, added:

"We are absolutely delighted that GB Airways has taken the decision to fly to Rhodes - the 'Island of the Sun'. Naturally, with more Brits travelling to Rhodes and being exposed to the beauty of the island, the range of facilities on offer and the value for money that property prices demonstrate compared to certain other countries in the Med, we are anticipating a significant increase in the demand for both old and new properties. Demand for Greek property will evidently influence prices and as a result investment potential looks extremely positive."

Two- to three-bedroom Greek island property with private swimming pools and sea views in Kalathos and Pano Lahania on the Island of Rhodes is currently available through Cybarco Limited; prices available on request.

Alternatively, a one-bedroom apartment situated ten minutes way from Corfu town is also on the market at 166,000 euros through Corfu Estate Agents. The apartment has its own balcony and garden and a second bedroom could be added.

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Article first published 2 May 2007
Writer Jo-ann Hodgson