Call us today: +30 6944 345436

Is Buying Property in Greece a Good Investment?

Greece’s allure, with its idyllic islands, rich history, and diverse landscapes, extends beyond mere travel fantasies; it encompasses the world of investment opportunities, particularly in real estate.

With its economy recovering from the financial woes of the past, Greece is presenting itself as a promising terrain for property investors. But the lingering question is: is buying property in Greece truly a savvy investment?

The Current Landscape

Post-pandemic, Greece’s property market has shown resilience, with urban areas witnessing a steady rise in housing prices. The Bank of Greece’s data depicted a price increase of 9.1% in Q4 of 2021, a positive trend anticipated to continue​ (Investguiding)​. Yet, these figures haven’t peaked to their 2006 zenith, leaving room for growth and making the investment attractive in terms of potential capital appreciation​ (SPACEERS™)​.

Investment Lures of the Hellenic World

The Greek government has rolled out incentives to lure investors. Notably, the Golden Visa program offers residency for non-EU citizens investing at least €250,000 in property. This initiative has become a cornerstone, as Greece provides a doorway to Europe with a relatively low entry price​ (Sable International)​​ (SPACEERS™)​.

Tourism, a staple of Greece’s charm, plays a pivotal role in the investment pitch. As a perennial holiday destination, properties—particularly those in tourist hotspots like Mykonos, Santorini, and Athens—can yield substantial rental income. Reports suggest that properties in these areas offer impressive annual yields, significantly outperforming other European locales​ (The Prosperty)​.

The Investment Climate

Greece offers competitive property prices, especially in comparison with other European capitals. An apartment in central Athens might cost between €1,500 to €2,000 per square meter, whereas similar properties in cities like Barcelona or Berlin could demand more than double. Such attractive pricing positions Greece as an advantageous market for investors looking to enter without prohibitive initial costs​ (The Prosperty)​.

Beyond pricing, the Greek government has taken steps to ease the investment pathway, including tax reforms to abolish VAT on property investments for a three-year period and additional tax deductions for renovation and construction​ (SPACEERS™)​.

Opportunities for Non-Traditional Investors

The digital age has birthed the ‘digital nomad’, and cities like Athens are increasingly on their radar—offering high-quality living, modern infrastructure, and an affordable lifestyle. This emerging demographic adds a new layer to the property market, targeting individuals seeking a blend of work and pleasure in the serene Greek backdrop​ (The Prosperty)​.

A Spotlight on ARTEMIS Luxury Apartments

As the market expands, savvy developers are creating oases for investors and discerning holidaymakers alike. K&B Properties introduces ARTEMIS Luxury Apartments, an exquisite holiday apartment complex in the Athenian suburb of Artemida, Attica.

This exceptional development encompasses a gross area of 1,505 sqm, thoughtfully divided over three buildings. It comprises 14 luxuriously furnished apartments. Among them, two are expansive 78 sqm apartments, two are cozy 53 sqm spaces, and ten are compact 42 sqm units.

Artemis Luxury Two-Bedroom Apartments (78sqm)

Each apartment is an epitome of luxury and privacy, with its own pool, high-end seamless windows, and eco-friendly solar panels equipped with net-metering, promising a blend of comfort and sustainability.

For investors, ARTEMIS offers a turnkey solution with a touch of opulence, positioned perfectly to capitalize on Greece’s buoyant holiday rental market. Interested parties can find more information and seize this opportunity by visiting ARTEMIS Luxury Apartments.

Challenges and Considerations

Investing in Greek property isn’t without its challenges. The rise of short-term rental platforms like Airbnb has strained the local housing market and brought about regulatory challenges, including taxation and property use restrictions​ (​. Furthermore, investors should navigate the intricate tax structure for rental income, which can scale up to 45% for earnings above certain thresholds​ (​.

The Verdict – Is Buying Property in Greece a Good Investment?

The Greek real estate market presents a compelling case for investment. With its low property prices, high rental yields, and the allure of the Golden Visa program, Greece is a contender on the investment stage. But with economic uncertainty still casting a shadow over much of Europe, potential investors should proceed with due diligence, consulting legal and financial experts to navigate the complexities of the Greek property market.

As with all investments, the key to capitalizing on Greece’s real estate is a combination of timing, local knowledge, and a clear understanding of the market dynamics. The nation that was once the cradle of Western civilization now invites you to be a part of its evolving narrative in the realm of property investment.

Leave a Reply

Your email address will not be published. Required fields are marked *