New Airport in Southern Crete

Sitia airport on the North East coast of Crete is about to be upgraded, opening up a whole new area of this pretty unspoilt Greek island. Sitia has not previously been used for commercial flights but according to the Greek Prime Minister the airport offers great potential for tourists and investors and will by 2009, be able to accept commercial flights from all over Europe. The foundations are in for the three new terminals which will make the airport capable of receiving up to seven planes in total at any one time.

"If buyers are looking to invest in a country where all the signs are positive, then Crete should be seriously considered. The island, which is the largest of the Greek islands, is steeped in history, has an excellent sunshine record, low cost of living, most locals speak some English and its infrastructure is that of modern European standards," explains Richard Brady, Director at Olive Tree International.

Two billion euro investment

This is just part of major plans recently laid out for the promotion of Crete by the Greek Prime Minister as he spoke on prime time television and promised 2 billion euro investment within the next few years.

"This is excellent news", continues Richard, "those looking to buy properties for capital growth should take serious note of such a financial commitment by the Government. The island has not been a prime area of growth but we have seen tremendous changes in other countries when they get substantial financial backing. We see this as a breakthrough for the property market of Crete".

The Government's fundamental strategic choice as part of the country's development course has been to add to and extend the tourist industry whilst upgrading its quality. They support the creation of modern infrastructure, the development of new forms of tourism and the promotion of Greece, internationally. States the Prime Minister, Dr. Kostas Karamanlis.

New constructions

Currently, Olive Tree International is marketing off plan, superb two bedroom apartments at Bay View near the town of Makriyialos on the South East coast. This area is as yet quite undeveloped as it is around two hours from the airport however with the opening up of Sitia airport it will be much more readily accessible making it a prime location.

A similar development to Bay View recently sold completely off plan, so interest in the latest "Bay View" is expected to be high.

Prices range from £71,121/98,000 euros to £82,615/114,000 euros. There are also bungalows available for £172,415/240,000 euros. The development is just two minutes walk from the beach and two minutes drive from Makriyialos with shops cafes, bars and restaurants. Within 30 minutes one can be at Sitia Harbour enjoying the excellent seafood restaurants. Each home has access to a communal swimming pool.

"The Government's commitments to promoting and improving the tourist industry are superb. It offers dynamic, sustainable long term growth to the region, which in turn will increase capital growth of properties," concluded Mr. Brady.




For more information contact: Olive Tree International Property Limited on 0845 2570227 or visit http://www.olivetreeworld.com