Greek Real Estate Market Investment: Why Investors Should Bet on Greece
Discover why investors should bet on the Greek real estate market in 2024. Explore the resurgence, foreign investments, and attractive prices in coastal areas and islands.
The Greek real estate market is experiencing a resurgence, attracting both domestic and international investors. Foreign direct investments in Greece exceeded 7.2 billion euros last year, solidifying its position as a popular investment destination. The relatively low real estate prices in Greece, especially in coastal areas and islands, make it an attractive option for investors compared to other European countries.
With economic recovery, increased tourism, and government incentives, the Greek real estate market is expected to continue growing in the coming years. House prices in urban areas have seen a 12% year-on-year increase, particularly in major cities like Athens and Thessaloniki. The country's GDP growth was 5.9% in 2022 and is estimated to be 2.4% in 2023, indicating a positive outlook for the real estate market.
The Greek government has implemented measures to attract foreign investors, such as a three-year suspension of VAT on property purchases and a reduction in the property transfer tax. The Golden Visa Program also remains popular, offering investors an opportunity to benefit from the thriving tourism industry in Greece.
Investing in Greek real estate can provide significant capital gains, with the country welcoming nearly 30 million international visitors in 2022. Rental properties in Greece can generate stable income, with luxury properties earning an estimated income of 780 euros per night during the summer season.
Overall, the Greek real estate market presents promising opportunities for investors looking to capitalize on the country's economic growth and tourism industry. With favorable government incentives and a competitive market, Greece is poised to attract more investors in the coming years.
The Greek real estate market is on a path of recovery and growth, offering investors a lucrative opportunity to capitalize on the country's economic resurgence and tourism industry.
Greek Real Estate Market Investment: Why Investors Should Bet on Greece
Real Estate Auction Sales Surge by 50% - Are Risks Worth the Rewards?
Real Estate Auction Sales Surge by 50% - Are Risks Worth the Rewards?
Discover why real estate investors are flocking to auctions, but heed the warning of a property solicitor to avoid costly mistakes.