D6.3 Quantitative analysis of land holdings abd land market trends Output #8

Section title: 5.1.4.2 Rhodes (EL421 Kalymnos, Karpathos, Kos, Rodos)

Highlights:
On the Greek Islands tourism is a major economic force affecting land use. This results in land speculation: subsidies for the regional development of Rhodes were capitalised in land values. Moreover, at the time that economic powerful tour operators established lower room prices for their package deals, the consequences, as investors could not pay their mortgage loans were, again, taken by the state.So, the state funded the land speculation in two instalments, first by its economic development policies and, second, by its bale out policies after it has shown that expectations based on which high land prices were paid were too high.


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Category: Case study

Country: Greece

NUTS1 region: EL4 Aegean Islands, Crete

Type of region: Predominantly rural

Local authority role: Providing infrastructure

Single persons role: Entrepreneur

Politician role: Providing funding

Rural development pathway: Smart Specialisation

Rural development topic adressed: Other

Type of action: Other