Upwardly mobile: The country might be in debt, but luxury housing in Greece is on the rise
Greece's debt crisis may have driven its government to introduce an austerity budget, but the country's luxury property developers are continuing to build holiday homes with confidence.
Not one, but two extensive, high-quality resort developments are taking shape on Greece's mainland Peleponnese coastline. The first of the two resorts to demand attention is Aman Villas at Porto Heli.
'We have seen a decline in the purchase of homes and apartments in Greece, particularly areas such as Athens,' says Chattering Katopis, a director at the developers, Dolphin Capital Investors.
Greek paradise: With its stunning sea views, the Romanos is the height of luxury
'However, there are some areas that seem oblivious to the crisis. Prices haven't dropped because there's high demand and only a finite number of good plots available - Porto Heli being one.
'The Aman Villas project has attracted interest from foreign buyers because of its location - Porto Heli is firmly established as the Hamptons of Greece.'
The Peleponnese is considered to be the country's most exclusive region and also one of the most beautiful. Rolling green hills tumble down to the azure Aegean sea,
sandy horseshoe-shaped bays link the coast line, drawing sun worshippers to its shores - and luxury property developers.
Aman Villas has a stylish, boutique hotel as the resort's centrepiece. A limited number of spectacular designer residences are for sale, on plots averaging two acres, each with elevated vistas looking out to sea and a shaded pergola on a large terrace next to a private swimming pool.
Villa owners will be able to use the hotel's services, which include an extensive spa, boutique shop, art gallery, gourmet dining and tennis courts. Owners will also have exclusive access to the resort's private beach club in an unspoilt bay a few minutes' buggy-ride from the resort.
Not only is there great attention to luxury at Aman Villas, but there is a commitment to completing the resort in an environmentally sensitive way.
There is sustainable resource management to minimise energy and water use, reduce emissions and waste production and promote green architecture by integrating local or traditional architecture.
The developer is also a founder member of Sustain Worldwide, a newly launched membership organisation of property and leisure tourism developers who are committed to building sustainably and considerately.
'The Aman Villas project has attracted interest from foreign buyers because of its location - Porto Heli is firmly established as the Hamptons of Greece'
The eco-friendly initiatives at Costa Navarino, the second luxury resort in development on the south-west Peleponnese overlooking the Ionian Sea, are similarly impressive and include an extensive recycling programme and preservation plans for biodiversity and the protection of habitats.
The broader development plans for the vast resort - there is half-a-mile of beachfront at just one of the several phases - include five-star deluxe hotels, spas and signature golf courses.
The first phase, Navarino Dunes, was launched this year and is the setting for The Romanos, a Luxury Collection Resort, The Westin Resort and The Dunes Course, Greece's first 18-hole golf course.
The second phase, Navarino Bay, will open in 2013 and showcase a Banyan Tree all-pool-villa resort, The Bay Course, an 18-hole signature golf course - open next year - and a five-star hotel.
Freehold properties for sale at Costa Navarino will include spacious villas with private swimming pools built on large plots within Navarino Dunes and Navarino Bay. The sale launch date and prices are yet to be announced.
Rest assured that such is the quality and attention to detail being demonstrated at Costa Navarino that the prices are likely to be significant.
At Aman Villas at Porto Heli they start at an awesome £2.5 million.
But if the rest of the world seems to be troubled by the Greek debt crisis, Dolphin Capital Investors are sanguine.
'In every way we can we have protected ourselves from the turmoil,' says Katopis.
'Quite simply, we are developing a true international quality resort with the best of everything.'
Aman Villas at Porto Heli: 00 30 210 361 4255, portohelicollection.com
Costa Navarino: 00 30 272 30 97000, Costanavarino.com
Sustain Worldwide: 020 7754 5557, SustainWorldwide.com
