Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
investment in real estate in Greece
Global investment

Why investments in real estate in Greece are attractive: a market overview

13.12.2022
2 min read

Investment in real estate in Greece is growing at a record pace

Investments in real estate do not lose their appeal even in times of market downturns. This investment option is a great way to save money from inflation and exchange rate fluctuations. Over the past few years, there has been an increase in investor interest in real estate in Greece. In turn, local developers and the government are doing everything possible to attract as much money as possible to the market.
Last year, foreign direct investment in Greece amounted to 4.8 billion euros, which was a record for the economy over the past 20 years. In 2020, the figure was 2.8 billion euros. This year has also been extremely successful for the local market. The tourism industry was especially strong with more than 191% more holidaymakers than in 2021. Alpha Bank forecasts that the revenue in the tourism sector this year will amount to about 20 billion euros. Previously, the maximum was recorded in 2010 at about 18 billion euros. Last quarter, Greece’s GDP grew by 7.7%, which is an excellent figure among EU countries that have been hit hard by inflation.investment in real estateAs for the real estate market, it is considered one of the most attractive in Europe in terms of price ratio. The cost per square meter of housing in Greece starts at 1 thousand euros. The government fully supports investment in the local sector, and for this purpose, it has reduced the amount of property tax from 24% to 3.1%. The country has also reduced the VAT on the construction of real estate, now it is 3%. In this case, when the registration of the land the buyer receives its ownership not for a certain period, but forever.
The government introduced a reform to increase the affordability of housing. Now young people can arrange a loan for the purchase of an apartment or house with a rate of 1% if its amount does not exceed 150 thousand euros. Under this program is also planned to build about 10 thousand new facilities.
According to analysts from PwC and Urban Land Institute, in the near future, Athens will become a leader among EU cities in the dynamics of increasing investment in real estate. Experts say that the demand for properties in Greece will grow for a long time, with an active demand from buyers from Kazakhstan. Increasing interest and the program to obtain a residence permit in exchange for investment.
As for the yield, for residential and commercial real estate, it is 3-7% per annum. In the case of the purchase of real estate under construction, then the yield can reach 40%.

Tags: Global investment
0
Previous Post Tel Aviv Exchange launches its own project to tokenize government bonds Next Post Credit risk: how to assess the probability of loss in advance

You Might Also Like

Renovite
Global investment
JPMorgan signs deal with fintech company Renovite
03.11.2022
Boom Technology became a unicorn
Global investment
Boom Technology has raised funding to develop a supersonic aircraft
06.04.2022
Global investment
U.S. startup Pairwise received $90 million to develop new fruits
17.11.2021
citizenship for investing in a country
Global investment
Where can one obtain citizenship for investing in a country: overview of states?
15.06.2020
Maps.me-1
Global investment
Maps.me app received a $50 million investment
08.10.2021
Chip maker Broadcom
Global investment
Chip maker Broadcom buys VMware for $61 billion
22.08.2022

Recent Posts

  • 1Merck
    Merck announced a deal with Imago
    04.02.2023
  • 2slowdown in inflation in Germany
    Germany and other countries recorded a slowdown in inflation
    03.02.2023
  • 3John Craig Venter
    Who is John Craig Venter and his contribution to science
    02.02.2023
  • 4Mitsubishi
    Japanese Mitsubishi Corporation: history of creation
    01.02.2023
  • 5soft market
    Soft market: its impact on sellers and buyers
    31.01.2023

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Fred Smith: the man who gave the world express delivery

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Latest Posts

Merck
Merck announced a deal with Imago
04.02.2023
slowdown in inflation in Germany
Germany and other countries recorded a slowdown in inflation
03.02.2023
John Craig Venter
Who is John Craig Venter and his contribution to science
02.02.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Fred Smith: the man who gave the world express delivery
  • What factors influence the development of the Russian money market
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics