Residents of Greece own liquid real estate, which is in exceptional demand on the domestic and international market. There is no shortage of houses and apartments for sale in the country, which can be bought profitably and subsequently receive high profits.
There are more and more people willing to invest their own money in real estate in Greece, which is rich in resort areas and historical monuments. Any foreign investor has a chance to quickly increase their personal capital. But in order not to suffer losses, it is necessary to have a good idea of the final goal and understand the regularities of the market.
Greece Real Estate Market for International Investors
Greece is a country with a rich history and culture. The real estate market in this country has recently shown upward trends. The value of individual properties has seriously increased in the last five years, thanks to low interest rates and a significant economic recovery after a serious crisis. A number of positive options, among which the favorable geographical location of the country, its political well-being and a favorable investment climate, create suitable conditions for long-term investment. We will tell you the main reasons to invest in property in Greece.
Reason 1: Greece’s Golden Visa Program
The purchase of real estate in Greece is one of the conditions for participation in its Golden Visa program. But this is not the only country where the purchase of expensive apartments gives the opportunity to simplify the procedure for obtaining permanent residence and citizenship. Having read the detailed Malta real estate investment guide, you will have a better chance to rent or buy property to become a participant in the citizenship program of Malta.
To obtain a Golden Visa, you will need to purchase real estate in the country for at least 250 thousand euros if you are considering Greece.
Reason 2: Attractive Prices and High Value for Money
Cost of apartments in this country can vary significantly depending on the region. But despite this, on average, the rates for individual objects remain low and therefore attract many private investors. Especially profitable will be the purchase of real estate in Athens, on the islands or the sea coast.
According to information provided by the leading expert of the company Immigrant Invest Zlata Erlach, housing in new houses can be valued from 3000 euros per 1 m2. At the same time, the secondary market offers investors more convenient rates – from about 1900 euros. For those wishing to invest in real estate in Malta, it will be useful to know that in this island country, one square meter of apartment costs an average of 2,600 euros when compared with other options.
Reason 3: Positive Economic Indicators and Future Growth
Today, the Greek economy is rapidly recovering from the deep crisis caused by the coronavirus pandemic. According to the European Commission, the country’s GDP is expected to grow by 2.5% per year in the near future. Greece is becoming increasingly attractive to live in due to these features. An important advantage of investing in Greece real estate is relatively low tax rates and low utility bills. Greece can be considered one of the most promising countries for all those who want to buy real estate in its territory.
Reason 4: Tourism and Rental Income Potential
The tourism industry is considered to be one of the most lucrative areas in the Greek economy. Renting accommodation here has a number of benefits, among which are:
- low cost of living in the country;
- favorable climate;
- availability of interesting places suitable for resort vacations;
- saving money – renting accommodation is much cheaper than buying it.
It is especially profitable to buy Greek property for sale in resort areas and then rent it out. The excellent location of this exotic country makes it possible for owners of residential property to conduct a good business, attracting foreign tourists who rent accommodation during their vacations.
Reason 5: Natural Beauty
Besides the financial benefits and economic stability, there is another reason to buy a luxury apartment in the Athens Riviera, Piraeus or Paros Island. It is the marvelous beauty of the nature of these places. Here are the best views from the window, as well as many options for exciting trips in the neighborhood.
All properties in prestigious areas are surrounded by well-developed, convenient infrastructure. There is a huge selection of bars and restaurants. Any owner can easily find a place for a fun time or a quiet, civilized rest.
Buying an expensive house or apartment in Greece has many significant advantages. Among them are positive market indicators, attractive price of properties, high rental income, especially in resort areas, as well as simplified procedure for obtaining residence permits and citizenship. Interestingly, almost the same can be said about Malta property for sale. In this country, real estate has a favorable price and, accordingly, quite high demand. Buy real estate now and enjoy all the benefits of the program.