Financial Resource

A series of earthquakes on the island of Kefalonia in 1953 totally destroyed the majority of the buildings with only a small area at the northern most point escaping the devastation.  As a result, an estimated 100,000 people left the island seeking a new life elsewhere. Following the major earthquake of 1953 property development on the island has been strictly regulated to ensure that buildings are constructed to specifications which will ensure that such devastation will not occur again.

In 1971 Kefalonia opened its airport and made the island more accessable to tourists with direct flights from Europe during the summer months.  The increase in tourists saw an increase in demand for property and a dynamic property market began to grow.  The population of Kefalonia is now quite cosmopolitan as many of the people who left the island in 1953 have returned with their families, bringing with them ideas from every corner of the globe, as well as a number of people who originally came as tourists but decided to make their home on the island.

Today there is a vibrant property market on Kefalonia with several estate agents offering a wide variety of re-sale and newly constructed properties available for immediate occupation.  There are benefits attached to purchasing a newly constructed or re-sale property which include:

The ability to inspect the property for the quality of build and fitments.
The property (in most cases) will already have connections to the mains utilities.   
Assessing whether or not a property meets your requirements is much easier in person than reviewing plans prior to building.
Established title deeds to the property.
Exchange of contracts will normally be 6 – 8 weeks after the agreement to purchase (subject to finance been available) at which time you can take immediate possession of the property giving you the opportunity to enjoy the property very quickly.
The ability to question the vendors on different aspects of the property which may arise during the inspection.

Building a good relationship with a reputable estate agent who will take the time to fully understand your requirements can help to make the selection process smoother and less stressful.  For a selection of resale properties currently available on Kefalonia click here. 

Mantas Real Estate located on the Lithostroto in Argostoli, Kefalonia specialize in resale and newly constructed properties and they can help with all aspects of the selection and buying process. 

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