It is well known that the introduction of cheap flights to a destination usually has a big effect on local property values. Investors looking for a quick uplift in property prices should consider Corfu, Crete, Mykonos or Rhodes.

GB Airlines has increased the number of its weekly flights to these popular islands. The airline only started flying to Greece two years ago, with just two flights a week to Crete. This summer it has increased the number of its weekly flights to Crete to five, to Corfu four times a week, Rhodes twice a week and Mykonos twice a week. Prices range from  £138 to  £150 return. There are, of course, other airlines which already fly directly into these destinations, but these prices are cheap for scheduled flights.

According to Piraeus Bank http://www.piraeusbank.co.uk , these additional flights will highlight the value for money that property on these islands offers compared with other islands in the Med such as Malta, Mallorca or Cyprus. This should lead to a significant increase in the demand for both existing and new build properties and in turn will influence prices. As a result, investment potential and rental returns look extremely positive

From its London office, Piraeus Bank offers Greek Euro mortgages to British and Irish citizens. Mortgages up to 80% for residential purchases, and 70% for land can be arranged. The refinancing of existing loans on Greek property and equity release can also be organised.

An interest only option for up to two years is available and mortgages can run from five to 25 years with the minimum loan of  €75,000. Piraeus Bank offer competitive interest rates, currently around 5.25%.