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

Saudi Arabia and Egypt NEOM city
Global investment
Saudi Arabia and Egypt to build the megacity of the future
26.01.2024
Canadian government
Global investment
Canadian government to boost support for AI sector
21.08.2024
self-driving cars developer Cruise
Global investment
Microsoft has partnered on an autonomous vehicle project
28.10.2021
Maps.me-1
Global investment
Maps.me app received a $50 million investment
08.10.2021
VinFast
Global investment
Electric car maker VinFast to launch its plant in the U.S.
09.12.2023
Pinduoduo
Global investment
Chinese marketplace Pinduoduo launches online store in the U.S.
27.11.2022

Popular Posts

  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?

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

Popular Posts

  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

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