Greece: Ideal for investment!
Investing in Greek real estate is particularly attractive for various reasons, such as affordable prices, high potential returns, and lifestyle advantages. As the economy recovers and tourism increases, the Greek market offers promising opportunities for both personal and investment purposes.
The main reasons include:
- Growth Potential: Greece attracts millions of tourists annually, increasing the demand for rental properties in popular areas. Specifically, tourist arrivals increased by 20.6% from January to May 2024 compared to the same period in 2023. At the same time, the real estate market is recovering, with housing prices, building permits, and rental prices continuously rising since 2017, with the most significant increase recorded in 2023 (13.9%), making properties particularly attractive.
- Competitive Prices: Despite the price rise, Greek real estate remains competitively priced, especially compared to other European countries. Investments can yield high returns, with rental yields ranging from 4% to 8.5%.
- Golden Visa Program*: Provides residence permits to third-country nationals who invest in real estate worth over €400,000, offering access to the Schengen area and the possibility of acquiring EU citizenship. For the Attica Region, the Regional Units of Thessaloniki, Mykonos, and Santorini, and islands with a population of over 3,100 residents, the minimum property value at the time of acquisition is €800,000.
- Quality of Life and Climate: The favorable Mediterranean climate and high quality of life make Greece an attractive destination for residence and investment. The cost of living remains relatively low, while the cultural heritage and beautiful landscapes enhance the country’s value.
- Increasing Demand and Infrastructure: Demand from international investors for Greek real estate is rising, as prices are attractive and affordable, while numerous government reforms and potential capital gains exist. Additionally, ongoing infrastructure projects enhance property values.
- Variety of Investment Opportunities: Greece offers a wide range of properties, from luxury villas to commercial real estate, as well as opportunities in sectors such as tourism and renewable energy.
- Tax Incentives: Greece offers favorable tax incentives, such as reduced transfer taxes and benefits for renovation projects.
- Strategic Location: Greece’s geographical position at the crossroads of Europe, Asia, and Africa offers strategic advantages for investments.
Overall, the aforementioned reasons are sure to boost interest in investing in Greek real estate. The opportunities are too enticing to pass up, and many investors from around the world plan to seize their share.
* There have been many amendments to the Golden Visa program since August 2024. If you have any questions, please do not hesitate to contact us. We are always at your disposal!