Investing in Real Estate in Greece

Greece is a popular country for many obvious reasons. It is a coastal nation that is rich in culture, history, beautiful landscapes, safety, beautiful beaches, and many more. It is for these reasons that the EU member country is a growing investment hub for entrepreneurs and real estate investors. When you put its geographical location into consideration, it becomes clearer why investors have their eyes on this coastal country.

Investing in real estate in Greece is considered a profitable business venture, whether you are investing in the construction of high rises and super malls, or purchasing beachfront homes, or properties on the numerous islands on the country’s coast.

A great example of a real estate investment is in the hospitality industry. Greece is a popular tourist destination, so it makes perfect sense to invest in hospitality. For instance, the profitability of investing in resort real estate is guaranteed for many years, while enjoying significant benefits based on the pricing dynamics of the property, as people are always looking for apartments for rent in athens greece.

Almost a decade after Greece suffered a series of economic setbacks which required a series of bailout funding from the EU and IMF, the country is back on the menu for real estate investors.

Greece saw about 446 million Euros worth of investment in commercial real estate in the first quarter of 2019 – higher than previously recorded volumes for each of the past four years.

As Greece’s economy continues to recover, more investment in the real estate sector will continue to pour in. The country has recorded a steady GDP growth since 2015 and is expected to hit higher than 2.2% in 2020. The country has also successfully exited its last bailout in 2018.

Founder and managing partner at Invel, Chris Papachristophorou, suggests that Greece “is probably one of the very few real estate markets where you can see growth from both rent improvement and tightening yields,” Vlaho Kojakovic, head of property and tourism at the European Bank of Reconstruction and Development agrees “The outlook is positive with new investments, refurbishments and upgrades occurring in several cities,”

The economic recovery, coupled with structural reforms, is expected to attract more foreign investors,” Kojakovic adds. “In this context, EBRD aims to continue supporting the resurgence of the real estate sector.”

Another reliable way of investing in the real estate industry in Greece is by approaching the banks. They usually have a lot of assets that they are trying to let go of. “There’s still a lot of real estate in the form of NPLs, or in the form of assets on the balance sheets of banks,” says Francisco Milone, head of European real estate at alternative investment firm Värde Partners. He adds “Banks are obviously not natural holders of real estate. Our strategy is to try to buy from those holders.”

Investing in real estate in Greece should be seen as a long-term play as opposed to short-term investment. If you are looking to invest in real estate in Greece and you need a law firm that is experienced in helping foreign investors settle in Greece and make sense of the entire process including government regulations, policies on real estate and legal advice, you should visit oikonomakislaw.com.

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Letting Agent Talk

Letting Agency Owners: Are You the Bottleneck in Your Business?

As a letting agency owner, it’s easy to fall into the trap of wearing too many hats. But it’s not just exhaustion and burnout you need to worry about – it’s the impact it’s having on your bottom-line. Guest Blog By Sally Lawson – Agent Rainmaker “From managing client relationships and handling operations, to overseeing…
Read More
Breaking News

Latest developments in Renters’ Rights Bill: What landlords need to know

On the brink of becoming law, the Government last week rejected the majority of amendments put forward by the House of Lords, which would have mitigated the severity of some of the amendments. Property professionals, landlords and tenants are poised to navigate this once-in-a-generation overhaul of housing legislation.   Lucy Jones, Chief Operating Officer at…
Read More
Breaking News

What Will Commonhold Mean for Property Managers?

By Robert Poole, Director – Block Management, Glide Property Management, part of LRG The government’s ambition to end leasehold for most residential properties has put commonhold back into the spotlight. First introduced in 2002, commonhold offered a resident-led alternative to traditional leasehold ownership. However, legal and commercial complexity stalled adoption. Two decades later, policymakers are…
Read More
Breaking News

Think You Know Mortgages? These 5 Myths Could Be Costing You Money

When it comes to mortgages, most of us have had advice from family and friends. The trouble is, a lot of these so-called facts are myths, with many individuals missing out on better deals or opportunities, due to not doing their own due diligence. Emma Graham, Business Development Director at Hodge Bank, explained: “Mortgages are…
Read More
Breaking News

Just 17% of homes selling for more than £500k

The latest analysis by eXp UK has revealed that while just 17.4% of homes sold across England and Wales so far this year achieved a price of £500,000 or more, agents in London, the South East, and the East of England will face the greatest need to adapt should the Government press ahead with plans…
Read More
Breaking News

Estate agents back Rachel Reeves’ stamp duty shake-up but call for abolition without replacement tax

The latest research from GetAgent has revealed that the majority of estate agents in England are supportive of Chancellor Rachel Reeves’ plans to overhaul property taxation by scrapping Stamp Duty Land Tax (SDLT). However, 44% argue that the new levy should be focused only on higher-value homes, while 79% favour abolishing SDLT outright without introducing…
Read More