Reasons for investing in Greece

The following reasons speak for an investment in Greece

• Top price/performance ratio - buying a house
• Favourable land prices - building
• Tantalising returns - Renting
• Top - Destination - Tourism

The market recovery in tourism and the associated real estate market has been noticeable in recent years through a steady upward trend in value. The market position thus shows a continuous stability based on many years of experience of the real estate agents, from which you as a customer benefit. Real estate financing from banks has been possible again in Greece since 2017 for foreigners with existing solvency. In addition, the civil code protects the seller through payment by instalments.

Over the years, the price level in Greece has stabilised considerably, which is approx. 30% to 40% below the level of the best years in the primary residence market and approx. 20% to 30% below the level of the best years in the holiday property market. In medium- and high-priced areas, however, prices have fallen by only 10% to 15%. Nevertheless, Greece offers the best value for money properties in the EU-Mediterranean region, along with Cyprus and Portugal.

• You have a perfect price-performance ratio for a newly built property.
• You can freely design the architecture, room planning, floor plan and equipment of the house according to your needs and wishes.
• The master builders in Greece manufacture your property using the latest technology.
• The increase in value of a high-quality new-build property and corresponding location is significantly higher than with a second-hand property.
• Due to the latest architecture and most modern standard, a significantly higher rentability is given.
• Investment in a stable tangible asset also offers you protection against inflation. Because real estate and consumer prices hold their value even in times of crisis.

• Property prices in Greece are currently at the same level as 6-10 years ago.
• Compared to Spain, Italy and France, Greece has relatively low prices. This applies to both building plots and house building, but without having to make any compromises in terms of quality and standards.
• A high availability of sought-after building plots in top locations leave nothing to be desired.
• A high yield potential, very good rental opportunities and an increase in value in the event of a resale speak for an investment.
• Greece is one of the top travel destinations in the world - unspoiled nature, a clean sea, mild climate and one of the sunniest countries in the Mediterranean.

1. attractive property prices can be achieved despite the market collapse of the financial crisis in 2010-1015.

2. Market analysts expect a significant increase in the value of Greek holiday properties in the coming years due to a development of infrastructure, tourism and the economy.

3. The upcoming land use plan will continue to go up due to low available properties.

4. Their tax advantages are:

• Reduction of land transfer tax from 24% to 3.09%.
• Low level of "Unified Property Tax" ENFIA because many holiday properties are located in rural districts.

The payment of 24% tax is suspended until 31/12/2022 according to legislation and (Article 6, VAT Code, L.2859 / 2000).

5. You can achieve tempting returns on the purchase of rental properties and tourist apartment complexes, since 01.11.2015 a tourist rental of private property, without official permission is allowed by law. They currently achieve yields of 6% - 10%,

Luxury properties can be rented out for 4,000 - 15,000 euros per week.

Source: Handelszeitung
Between 2017 - 2019, the index has risen again to 105.43 points. There is still room for improvement in terms of price. Invest now and ask us for good opportunities.

Our team at IMMOLYMP and its partners will be happy to provide you with personal advice and information about investing in Greece.

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