Greece Buying Guide Monthly Newsletter
Christmas 2009

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In This Months Issue You'll Find:

Christmas Message from Carol

What is a Traditional Christmas in Greece?

Reader’s Experience:  How deciding to leave the UK worked for them

Things to do with the kids in Greece over the Christmas holidays!

Who is Oliver Spencer and why should you care?

Christmas Special – 25% off any of our Property Buying Guides

Are you protecting your assets in Greece?

What is FSA Regulation and how can it benefit you?

Hot off the press: an update on the new Government’s Tourism plans… and how they will affect YOU.

'See' you in the New Year!

Hello there…well, it’s my final newsletter of 2009! 

As the days draw in and the streets light up with their sparkling Christmas decorations you would need to be fairly hard hearted not to get a shiver of anticipation – I know I do!  I have never really grown out of the excitement of opening presents and this year I will be sharing my Christmas with that yuletide essential – children!  Twins no less!  Somehow Christmas is much more fun when there are children around – their excitement is so infectious.  Coming from South Africa the idea of snow also has a romantic, storybook quality and I am almost guaranteed some of it in the USA this year.

What are you up to this Christmas?  I wonder if my old friends and Greece Buying Guide faithfulls Steve and Sharon McDine are off to Athens this year - we usually ‘touch base’ around this time to hear how they are doing.  They love Athens as a Christmas shopping destination; as Steve says – any excuse! And you have to love a man who is keen on shopping…

Actually, December is a great time to go to Greece. In the country's major cities, such as Athens, Thessaloniki, Patra and Heraklion the municipal authorities organise music concerts, theatrical performance and a number of other cultural events. Athens especially comes alive for the holidays with Rembetika, laiko and all sorts of lovely music in all the clubs as the Athenians take back their city.  There are also free concerts in Syntagma Square and music and dancing in the tavernas and ouzeries of Psiri and the Plaka. Go to: City of Athens Christmas page for full details of events taking place.

The famous archaeological sites like the Acropolis are nearly empty and you can sometimes wander around quite alone. Street musicians wander the city playing everything from Mozart to Tsitsanis and the shops of Ermou and Monastiraki are alive with people doing their Christmas shopping – including, no doubt, the McDines!

Trips around the mainland will take you to places like Delphi, Meteora, and Myceneae on days when you can have these famous sites almost to yourself – what bliss. Meteora particularly is a stunning experience, once seen never to be forgotten.

Then of course there is skiing; you could extend your shopping trip and stay a while in one of the many winter resorts in the countryside, usually monopolised by the Greeks themselves – it’s one of Europe’s best kept secrets.  The most popular snow centers are Parnassos near the town of Arcahova, Pertouli and Pilio in the region of Thessaly, Tymfristos in the Karpenissi area, Helmos in the town of Kalavrita, Mainalos in Vytina, Peloponnese, Vasilitsa in Grevena and Kaimaktsalan in Edessa.

Plus of course, if you can pin down an estate agent before you go, chances are extremely good that they will not be frantically busy, as they are in summer.  But arrange in advance – be warned – they may well have taken a well-earned holiday! Let me know if you need help here – call on 0207 898 0549 and the OGC Resource team may be able to come up with someone really good to help you.

Right – what’s in store this month?  Well, I start off discussing Christmas in Greece – can you imagine anything nicer?  Plus a bit about what to do with the kids while there – always great to have something to keep them busy!  As promised, I am telling you what the new Government has in store for Greece in terms of up and coming tourism – info I picked up at the conference I attended.  I have a top tip that I am sure you will like, plus there are a few other bits and pieces to help you along your way before I close off for the year – enjoy!

Kindest regards,

Karolina!

Carol Dunning
Greece Buying Guide Advisor
The Overseas Guides Company Limited.
mailto:greece@OverseasGuidesCompany.com
Phone 0207 898 0549
1, Lyric Square,
London W6 0NB

What is a Traditional Christmas in Greece?

I think perhaps that the one thing that really makes a Greek Christmas special is that it is mainly a religious observance and not the rather commercial event that it has become in many countries. Greece is still an oasis of non-commercialism and family orientated celebrations – I think that this is what most of us find so very enchanting about it.

Christmas holiday celebrations start early in Greece: they are already in full swing by December 6th, the Feast of St. Nicholas, when presents are exchanged, and they last until January 6th, the Feast of Epiphany. The celebration of Christmas in Greece goes back to the time of St. Nicholas in the 3rd century AD, who was known as the patron saint of sailors. For this reason, you will often see boats decorated with many sparkling lights, rather than the traditional Christmas trees.

Christmas is still not as important a holiday as Easter but this is steadily changing over the years. Now you'll find lavish decorations and lights strung across most of the streets in major cities and towns. Athens in particular has responded to the Christmas festivities in a big way and a huge Christmas tree can be seen towering above busy Syntagma (Constitution) Square, surrounded by all sorts of entertainment, including elves, fairy-tale cottages and Christmas ornaments plus lots of events. Children are welcomed in the ‘fairy village’ and are entertained by clowns and other performers – hopefully without the same reaction as my granddaughter.  She is terrified of clowns and usually runs screaming from them!!

There are of course many Christmas customs in Greece that are similar to those in the UK. For instance, on Christmas Eve, village children move from house to house, singing the equivalent of Christmas Carols, called ‘kalanda', The children accompany these songs by playing on small metal triangles and little clay drums and are usually rewarded with sweets or a few small coins.
Lamb and pork are roasted in most homes and on almost every table are loaves of 'christopsomo' or 'Christ bread'. This is usually made in large, sweet loaves of various shapes with the crusts decorated in some way that shows the family's profession. In many parts of Greece, people also hang a pomegranate above the front door of their house. By the New Year, when the fruit has dried, Greeks throw it on the ground, breaking it, and step over it into their house on their right foot. According to tradition this brings good luck for the year ahead.
‘Kala Hristouyienna’ – happy Christmas!.

Let me know if you need help arranging a trip to Greece – just call the OGC Resource Team on 0207 898 0549. Also, if you need any help finding a property in Greece, please fill out our property form.

Reader’s Experience:  How deciding to leave the UK worked for them

This month I have included this excellent ‘Reader’s Experience’.  I feel it could apply to anyone, moving to any country.  Not only does it demonstrate how dreams can come true, it also shows how the help of a currency exchange specialist was able to save Trevor and Sue a lot of money.  This is well worth a read…

A number of reasons influenced Trevor and Sue’s decision to move to Spain, where they have both spent some time in the past.  

Trevor takes up the story:

“Sue had lived in Spain for four years before having to return to the UK to deal with family problems. While in Spain she felt vibrant, healthy and full of life.

The weather was never as dull and grey as here in England, even at its worst! The winters were cold but without that 'clinging' damp associated with this country. For those of us with joint problems who get a little 'down' as a result, the climate in Spain has an almost miraculous effect!” enthuses Trevor.

Sue had spent about a year in a typically Spanish town where she was the only English speaker. “You might think that the Spanish people would have 'talked slowly and loudly' to Sue and me as we attempted to learn their language, but the opposite was true!” grins Trevor; “They were very friendly and patient with our attempts at Spanish and helped us learn. I don’t think that too many people in this country would be bothered to take that much time or effort.”  Trevor adds that he is horrified how many Brits come to Spain and make no effort at all to fit in at all: “This is their country after all - it’s the least we can do.

“Families are the most important aspect of their lives to the Spanish people” Trevor continues.   “They 'work to live', unlike this country where we are inclined to 'live to work'! Provided there is enough food on the table and the bills are paid, the Spanish are very contented people, hence their mañana attitude!”

They have decided to relocate to the Almeria area. It takes its name from its capital city, which lies on the southern coast of the province. The area would have remained unknown if it hadn't been for the film companies who discovered that the area offered ideal film sets for films such as Lawrence of Arabia and Patton. Driving through the area one sees what looks like towns but, on looking back, turn out to be film sets!

Trevor and Sue found that, as the credit crunch took its toll, they were forced to adjust their expectations.  They have decided to keep their home in the UK until the property market improves.  “This isn’t the time to be selling in the UK” Trevor comments sadly. “We will be renting a home in Spain and letting out our house here in the UK for the time being.”

Moving funds across to Spain became the next priority.  By his own admission something of an ‘internet fiend’, it was while doing a bit of research that he came upon a currency company, Smart Currency Exchange.  “Believe me, I left no stone unturned and compared them all” laughs Trevor.  “I found that some sites were very vague, but this one appeared to have the ‘openness’ and clarity that I required: “I had a good read on their website and so understood how it all worked.  Then I had a good chat about how a currency company can help. They were quick to emphasise how a forward contract can help in cases like mine.” 

Smart Currency explained that this meant deciding to buy his currency at the current rate in case sterling worsened against the euro, only paying a small percentage upfront to assure him of this rate.  At first Trevor was sceptical about locking his currency into a rate in case the euro picked up against sterling and he was stuck with a lower rate.  “They explained to me that saving on interest rates will help negate any losses and I would be in a far better position should the market move against me…I liked the idea.”  He particularly liked the fact that everything was explained upfront in a realistic and open way – not something he had found with all the people he approached

Trevor and Sue are proof that, if you want it enough, moving countries is possible.  “I will be working in Spain and earning a living there” says Trevor.  “Fairy tales do come true,” he adds “it’s just a matter of taking a decision and then making it happen.  I cannot wait for the time when Sue and I are back where we long to be”.

This is what Mike had to say about his experience with Smart:

Dear Mr Purdy, I have just transferred a large amount of money using your service, and I would like to thank all the staff who helped me not only get a rate that was better than 3 other companies I rang, but also on the service, helpfulness and general smoothness of the transaction. The other item to note was the speed with which the transaction happened, which compared to other companies I have used was extremely fast (in fact the word breathtaking springs to mind).

Please thank all your staff who took such time and trouble to deal with this on my behalf.

One again thanks

Mike

To get an update on the Euro exchange rate, request a quote at Smart:
www.SmartCurrencyExchange.com/quote.aspx

If you do decide to go to Greece over December, here are a few things to keep the kids happy:

Cinderella at the Athens Concert Hall, by the National Kiev Opera Ballet, and guest starring Gillian Murphy and David Hallberg from the American Ballet Theatre.  Dates:  December 19-27 (excluding December 24) See www.megaron.gr (tel 210-728-2333)

Tchaikovsky’s The Nutcracker, a holiday favourite interpreted by the Universal Ballet of Korea (from November 24)

Alexander the Great and the Accursed Dragon, a magical fusion of shadow puppetry and performance art by folktale wizard Dimos Avdeliodis (from December 17).

Both shows will be held at the Badminton Theatre (www.badmintontheater.gr). Tickets can be purchased at www.ticketnet.gr.

Museum mystique.  I know that my daughter, while still in London, used to take her kids to a museum every Sunday, and great fun was had by all.  A number of Athens Museums have special child-orientated activities that are lots of fun and that will allow them to make Greek friends. 

The Hellenic Children’s Museum, for example, is more like a series of well thought-out playrooms than a museum and offers little visitors the opportunity to touch everything they see and participate in educational play sessions guaranteed to leave them a little bit wiser and a lot happier than when they came in. The Hellenic Children’s Museum holiday events include a number of creative workshops in December, broken down according to age group – have a look at their website.

Hellenic Children’s Museum
Address: 12 Kidathineon St, Plaka
Tel: 210-331-2995
www.hcm.gr

Emotions Museum of Childhood
Address: 7 Karatza 
& Tsami Karatasou St, Filopapou
Tel: 210-921-8329
http://mce.gr

Museum of Greek Children’s Art
Address: 79 Kodrou St, Plaka
Tel: 210-331-2 621, 210-331-2750
www.childrensartmuseum.gr 

Who is Oliver Spencer and why should you care?

Oliver – or Oli as we all call him – is the Client Services Executive for The Overseas Guides Company (the OGC) and has a somewhat dark, mysterious and handsome way about him.  He comes across serious and bit quiet yet when he speaks Oli always has something valuable to say.  In a world where everyone wants to talk, Oli is one to practice the art of listening and then responding in a way that makes you feel like he really cares. 

Perhaps his excellent ability to listen and add value come from his degree in Communication Studies from the University of Leeds?!

Oli started his working life at an Events Company at university – when pressed he admitted that he loved music and that the company wasn’t so much of a ‘job’ but a real pleasure (I hope he feels the same about the OGC!). He is also a keen sportsman and counts among his talents rugby (played at county level), skiing and snowboarding (in France) and watersports…

Somewhat appropriately for a sport’s fanatic, Oli went from his job during university into the ‘real’ world of Sales and Marketing at Red Bull, the energy drink company.  So now we’ve established that he has both energy and communication skills – a winning combination to help OGC readers to fulfil their dreams!

When asked what he liked best about his job, Oli’s reply was immediate: 

“I love talking to people about their hopes and ambitions to buy property abroad.  I have travelled a fair amount myself and can really identify with wanting to have a home overseas, whether for holidays or indeed to live in permanently.”

Oli added, “the other day, when talking to a reader, they described me as a potential life saver for the information I had provided:  no amount of energy drink can give you the ‘high’ that that kind of comment does – it’s really exciting to know that we help people on a daily basis”. 

Oli also enjoys the team that he works with – and it shows in his friendly and helpful attitude to both colleagues and OGC readers alike.

To speak to Oli or another member of the OGC team, please ring Mon-Fri, 9am to 6pm on 0207 898 0549.  The OGC Resource Centre are available to you – free of charge – to offer recommendations, assistance and at the very least help to point readers in the right direction.

This is what an OGC reader had to say about the OGC Resource Team:

Let me say how happy Philip and I are with your service. You have opened so many doors for us to think about. I like to take things one step at a time, to fully take on board every situation, but I could never have been prepared for the multitude of options that you have presented us with. You can be sure that we will be using your recommendations as and when we need them, because we are gaining more and more confidence in your company and that is all down to the interest you take and the advice you give.

Christmas Special – 25% off any of our Property Buying Guides

Hey – remember that we offered you a very special price on the Property Buying Guides last month?  This is just to remind you that the offer ends on 24th December, so there is still time to get your copy, either for yourself or for friends that may be thinking of buying abroad.

The guide is a perfect gift for anyone interested in buying and/or moving abroad.  Full of fantastic information and in a format that’s easy to read and nicely packaged your partner/friend/relative will definitely be pleased to receive this unique gift.

And in the true spirit of Christmas, as we mentioned before, the OGC is offering all Guides at the discounted price of £14.98 (digital – you’ll need to print this one out from your printer) or £22.48 for the professionally printed hard copy.  We have Guides for: France, Greece, Italy and Cyprus and each guide comes with 2 bonus booklets including worksheets to fill out during the property buying journey and ‘your questions answered.’ 

To qualify for this very special offer you will need to enter the code XMAS3485 for the discount to apply.

To get more information on each guide on offer, please select the country link below:
http://www.CyprusBuyingGuide.com/guide.htm
http://www.GreeceBuyingGuide.com/guide.htm
http://www.ItalyBuyingGuide.com/guide.htm
http://www.FranceBuyingGuide.com/guide.htm

Also available to buy soon is the brand new, updated Emigration Guide.  Note however we still do have some of our free, first draft, un-polished guides available, but they are rapidly running out. If you would like one, please go to: http://www.emigrationguide.com/thankyou.htm

If you have any questions, give the OGC Resource Centre a ring on 0207 898 0549 and they’ll be happy to assist you.

Here are some lovely words from a guide reader:

Just a few lines to tell you how much my wife and I appreciate your guide.  We do look forward to the monthly letter and the in depth information you supply with it too. We hope at some stage to take the plunge and make a move on a place in the sun but there always seams to be a reason to delay the big decision.  In the meantime please carry on the excellent service you deliver and accept my very best wishes for the future.
Jim Pryde

Are you protecting your assets in Greece?

In the excitement of Christmas holidays, don’t be tempted to neglect the really important stuff!  It is vital that you, as the current or future owner of a holiday home overseas, fully understand the extent and limitations of your insurance policy.

Do you have the cover for legal liability for domestic staff (cleaners, gardeners etc)? Are you covered for floods, earthquakes and so on? What restrictions are in place in letting or if the property is unoccupied?

If you place your overseas property cover through an insurance company abroad it is more than likely that you simply won’t know the answers to these and other really important aspects of your policy.

The answer is to insure with a specialist in second home and overseas property insurance right here in the UK. Intasure will offer you the reassurance of English language documents and UK back-office service and support: a plain English property insurance policy underwritten by some of the world's leading insurers and administered in the UK via helpful and knowledgeable staff.

For more information, click here.

FSA now regulates currency exchange companies

One of my top recommendations to readers is the use of a currency exchange specialist. I explain that by using a specialist, overseas property buyers can sometimes save up to £4000 on every £100,000 transferred.

In the past readers expressed concern about the safety of using an unknown company – and rightly so!  Well, now I am pleased to report that a new Payment Services Regulation (PSR) has come into effect that has had an impact on many financial institutions.  You may have noticed your bank sending you updated terms and conditions - this is the reason why! The new regulations apply to banks and also non-banking payment service providers such as currency exchange companies.

From now on most currency exchange companies will be regulated by the Financial Services Authority (FSA) under the new Payment Services Regulations 2009. The regulations cover the safeguarding of clients funds and payments made by the currency companies.

If you are dealing with a good currency company, such as Smart Currency Exchange, you may not notice any difference when undertaking a transaction as they may already meet or exceed the new standards that have been set by the FSA.  However, the new regulation will bring peace of mind and a greater feeling of security, providing of course that you make sure that you only work with currency specialists that are regulated. 

Smart also offers an exceptional free report…

If you haven't yet collected your FREE report from Smart on "Why Overseas Property Buyers Lose Money... and how YOU can avoid it" get it here!

Hot off the press: an update on the new Government’s Tourism plans… and how they will affect YOU.

As I mentioned in my last newsletter, I attended the Greek Tourism & PropertyConference at the Park Lane Hilton.  I obtained some really useful information that I will pass on to you, but my first comment I am afraid is a negative one.

First up was a really boring presentation given by the Olympic Air representative.  When I tell you that one of the panelists at the head table actually dropped off to sleep during the presentation you will appreciate just how boring it was.  Over lunch I got chatting to a chap who declared himself to be a linguist:  he said perhaps it was a language thing.  Now I know that the presenter was Greek speaking – but then so were most of the other speakers, most of whom managed to give really interesting talks.

My point is that if Marfin, the company that has taken over Olympic Airways, has, as we were informed, an investment schedule of $900 million, a few of those dollars would have been well spent in getting an actor to present the new product rather than someone who read from his script in a boring monotone while the most clichéd power point presentation (which nobody even bothered to glance at) scrolled unimaginatively across the screen.  For heavens sake, this was a presentation of a new airline, in English, in the capital city of the UK – the country that generates more tourists to Greece than almost any other…

The good news however is that the takeover means a fleet of new aircraft – it has one of the youngest airline fleets in the world - and new management.  Hopefully this will raise the game from that of the now defunct Olympic Airways. Also, the Government has a whole bunch of new plans in place to increase tourism to Greece – more about this later – and improving airport facilities and services is top of the list. Is that a loud sigh of relief I can hear?

There was quite a bit of discussion as to how the credit crunch has affected Greece.  

We were told that in many ways the country has done better than most:  the private sector has not over-borrowed and property has not been over-developed as it has in countries such as Spain.  Also, the Greek banks were not overexposed in the emerging markets of Eastern Europe and there are few major industries in the country to collapse. 

However, in the light of recent revelations this would appear to be not entirely true.  This is not the place to go into a detailed analysis of Greece’s financial problems:  suffice it to say that, as in very many other countries worldwide, many of Greece’s problems stem from problem banks. They poured money into the capital-starved Balkans to take advantage of the higher earnings potential and, now that the Balkan economies have stopped growing, the potential for loss is staggering.  Then in 2008, Greece – like the UK – had to bail out its banks that weren’t clever enough to see the recession coming.

Further problems include the fact that Greek businesses are hurting from a stronger euro, which has discouraged tourism. Shipping - Greece has 20% of the world’s fleet – has also been slow due to the global recession.
All this means that Greece urgently needs foreign investment and focuses attention on the fact that tourism is of major importance – actually it is the main industry and an extremely important income generator for Greece.  Tourism has not moved with the times in Greece and remains much as it always has been.  The new Government has made a number of electoral promises to increase tourist numbers and to re-energise the tourist industry.  These include:

• More ‘green’ projects: the new Government is very keen to encourage environmentally friendly projects.  The EU has also set targets which need to be reached
• Greater infrastructure on the islands: this will include upgrades to both ferry and flight access
• Better transport all round, with incentives to, for instance, airlines, plus an upgrade of airports
• An accent on tourism in terms of policy decisions. Millions is spent annually but there is no formal, dedicated tourism policy:  this is set to change

When you think that there are 200 golf resorts in Spain and Portugal and none in Greece it does seem like a wasted opportunity. There is talk of a wonderful and eco-friendly sounding project near Kalamata on the Peloponnese – I will look into this further and let you know when I have more details. Also, there are already ski resorts that mainly Greeks take advantage of, but very few tourists even consider.  Winter is far warmer in Greece than it is in either Spain or Portugal for instance and so there is going to be an effort made to encourage year round tourism in future.  There are two major challenges to be faced:

• More accommodation for winter tourists
• Winter sports facilities need to be upgraded.

In Athens, which was improved enormously just before the Olympic Games of 2004, there are two major developments that will be taking place:

• The sea front is to be upgraded and remodeled
• A new Opera House is to be built.

It all sounds really exciting, and very logical.  Plus it is also really good news as it can only increase the value of any Greek property and make it very easy to rent out – for far longer periods hopefully.

But it does rather underscore the point that this may be the time to buy:  with increased interest in the country usually comes price increases… If you need any help – with estate agents or suchlike - just call the OGC Resource Team on 0207 898 0549.  There is no cost or obligation to use our recommendations.

See you in the New Year!

Here are some lovely words from a Greece Buying Guide reader

Hi Carol just a few lines to tell you how much my wife and I appreciate your guide to Greece.  We do look forward to the monthly letter and the in depth information you supply with it. We hope at some stage to take the plunge and make a move on a place in the sun but there always seams to be a reason to delay the big decision.  In the meantime please carry on the excellent service you deliver and accept my very best wishes for the future.

Jim Pryde

Many Greece Buying Guide newsletter readers have become friends over the years and their concerns have become ours.  I would like to tell you how much your input and affection means to me – please keep in touch in the New Year and, if there is any way I (or the OGC Resource Team) can help you make your dreams come true…well, you have only to ask. 

Kala Hristouyienna -  Merry Christmas to you and your family.  I hope the New Year ahead will be a happy and fruitful one for you and if 2009 wasn’t your best year – then 2010 is sure to be!

Warmest seasonal greetings,

Karolina!

Carol Dunning
Greece Buying Guide Advisor
The Overseas Guides Company Limited.

Phone 0207 898 0549
Greece@overseasguidescompany.com
1, Lyric Square,
LondonW6 0NB