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Unlocking the Potential: Why Greek Real Estate is a Smart Investment

Unlocking the Potential: Why Greek Real Estate is a Smart Investment

Exploring the opportunities within Greece’s real estate sector reveals a landscape ripe with potential. The allure of Greek properties lies not only in their affordability but also in their appreciating value, offering an attractive proposition for both immediate enjoyment and long-term investment. With a robust summer tourism scene, properties in Greece present a promising rental market. Moreover, a growing confidence from major investors signals a bright future for the Greek economy and its property market.

Owning a piece of Greece is about more than just financial gain; it’s about experiencing the unparalleled beauty of its landscapes, the warmth of its people, and the richness of its cuisine. Greece offers a lifestyle that encourages you to slow down, soak in the beauty around you, and truly appreciate the luxury of owning a slice of this paradise. It’s not merely a market for quick turnover but a destination where you’ll find yourself wanting to stay indefinitely.

Our website is your gateway to finding your dream home in Greece, where the market is showing signs of healthy growth. The Bank of Greece reports a steady increase in the house price index, signaling a market that, while recovering from historical lows, still holds significant room for growth. Particularly, new and old apartments alike are seeing a notable rise in value, especially in urban centers and Thessaloniki.

Which countries are investing in Greek real estate?

Greece’s appeal is global, attracting investors from Israel, China, Germany, and beyond, including Greeks returning from abroad to invest in their heritage. The introduction of the golden visa program has further invigorated the market, drawing a significant influx of investment into real estate.

Since the beginning of 2023, real estate purchases by golden visa investors have risen by around 170%, reaching a total value of €975 million. Just make sure the €250,000 home you are looking at is worth that amount, and that the price wasn’t put up just to meet the criteria.

The optimism in the property sector is palpable, bolstered by ongoing large-scale development projects and government incentives. Key infrastructural developments, like new roads, bridges, and airport expansions, are set to enhance the accessibility and appeal of various regions, promising a positive impact on property values.

New project near Athens – The Ellinikon

One of the most anticipated developments is the transformation of Athens’ former Hellinikon airport into a vibrant urban oasis, The Ellinikon, promising luxury living alongside extensive recreational and cultural facilities. This project exemplifies the dynamic future envisioned for Greece’s urban landscapes.

Investment interest spans a diverse array of regions, from the cultural hubs of Athens to the serene beauty of the Ionian Islands and Crete. Confidence in the Greek economy is strong, reflected in the re-election of Prime Minister Kyriakos Mitsotakis and the positive outlook from international economic observers. This confidence, coupled with a steady rise in property values, paints a promising picture for those looking to invest in Greek real estate.

Asking prices by prefecture

All major administrative subdivisions of modern Greece that have popular holiday spots have experienced a rise in asking prices. The following data shows average asking prices (€/sqm) for the third quarter (July-August-September) of 2023.

The percentage, is the amount the average asking prices have risen compared to the same period in 2022.

  • Corfu: 2,083(€/sqm) – 21.50%
  • Chania:  1,157(€/sqm) – 17.10%
  • Dodecanese: 1,800(€/sqm) – 15.40%
  • Zante: 1,944(€/sqm) – 15.20%
  • Cyclades: 3,333(€/sqm) – 12.50%
  • Halkidiki:  2,143(€/sqm) – 12.50%
  • Cephalonia: 2,222(€/sqm) – 11.10%
  • Argolis: 1,667(€/sqm) – 10.80%
  • Sporades:  2,000(€/sqm) – 10.30%
  • Heraklion: 1,500(€/sqm) – 10%
  • Corinth: 1,500(€/sqm) – 9.10%

As we explore the current landscape, it’s evident that Greece’s real estate market is not just surviving but thriving, offering a unique blend of cultural richness, lifestyle appeal, and investment potential. Whether you’re seeking a holiday retreat, a permanent residence, or an investment opportunity, Greece’s property market holds a treasure trove of possibilities waiting to be discovered.

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