Greek crisis sparks bargains on island villas

Has Greece got a deal for you.
Brave investors are hunting for cheap island villas in Greece in the hopes that the crumbling economy will boost their bargaining power.

The escalation in the country's financial troubles in recent weeks has seen a surge interest from foreign buyers.

George Eliades, managing partner of Algean Property, said inquiries about vacation homes on iconic Greek islands like Mykonos have risen sharply over the past three weeks.

"We have people that are in a hurry to buy," Eliades said. "They are looking for a quick turnaround."