Greece real estate

Real estate in Greece is one of the most advantageous offers in Europe. For almost 10 years, Greek and foreign investors have been competing in this market with attractive opportunities. The reason is, in particular, that the return on investments is high and rapid.

Before you embark on such a project, it is essential to understand why this sector rises such enthusiasm and how you go about investing wisely.

What are the advantages of investing in Greece?

Greece is, undoubtedly, one of the most popular European tourist destinations. Rich by its culture and history, the country is also attractive because of the legendary hospitality of its people and a typical Mediterranean climate. The gastronomy answers to all expectations, without neglecting the idyllic landscapes that can be found almost everywhere across Greece.

This tourist attractiveness is an asset appreciated by investors who are targeting buildings dedicated to rental because demand is very high. The summer season is the most profitable, vacationers also flock at other times in the year, especially since the Greek government has developed a strategy to extend the tourist season beyond summer.

Since the 2011 crisis, buying in Greece has been financially attractive. Some goods are, indeed, sold at 50% of their real value. It is therefore not necessary to have a large budget to acquire a high class property.

Criterias for a good investment

Any real estate investment, in Greece as elsewhere, requires precautionary measures upstream. Your project must therefore be based on precise criterias, so you will be able achieve it with the best conditions.

You will need to clearly define the use you plan to make of your property. If you plan to make it a regular home or a secondary residence, how do you imagine the ideal house or apartment? If you are thinking about renting out, you will need to define the profiles of your future tenants to identify the type of property likely to seduce them. The architectural style, the decor, the layout possibilities … must fit to the intended use.

Pay special attention to the geographical area because the atmospheres are diverse in Greece. There are very dynamic neighborhoods such as residential areas, small corners of nature or islands with a strong character. Depending on the location chosen, proximity to the beaches is not always guaranteed.

Consulting and comparing offers on the internet allows you to get a first portrait of ​​the potential properties presented. However, nothing beats an on-site visit. You will be better able to understand its strengths and identify its possible shortcomings. The tours will also be an opportunity to soak up the atmosphere in the neighborhood.

Mind to have the condition of the property checked by professionals. This concerns the quality of the insulation, the sturdiness of the foundations, the absence of hidden defects and any other detail the innocent eye would not notice. Take advantage of this diagnosis to find out about the possibilities for renovations or rearrangements. This step is important to establish a realistic budget for your investment.

It is strongly recommended that you have the support of a real estate agency which masters the different specificities of the Greek market and works in this country. You can delegate the procedures to professionals who guarantee you a quality support.

invest in greece

Where will you buy your second home? Athens, Mykonos, Santorini …

  • Athens is usually the first city that comes to mind when talking about Greece. It is precisely an attractive sector to acquire a second home. There are working-class districts as well as prestigious sectors, including historical and cultural districts.
  • In the Cyclades, Santorini and Mykonos are mythical places that benefit from their tourist success. These islands live for and by tourists and offer multiple activities and all kinds of events throughout the year and you will be sure to find all the shops you need for a comfortable stay.
  • But many other more peaceful islands offer great opportunities for family stays or a serene life in the blue of the days.

Which neighborhood is the best for rental?

Before investing in Greece, it is essential to learn about the areas most popular among visitors. The cities and districts with an occupancy rate of around 85% are particularly the most interesting

But we must not neglect some neighborhoods whose potential is promising in the next few years.

You could rent a villa in downtown Athens, which revolves mainly around the Pantheon. Kolonaki, by the way, is popular with people who want to stay in a prestigious area. The eclecticism of the atmospheres that prevails in Thiseío will also be helping your strategy. It is an area, close to the acropolis, that appeals to everyone, whether they are night owls, romantic souls, artists, families or even retired …

Generally, properties located in the Greek Islands have a low rental vacancy. For tenants, you need to plan your stay far in advance. For owner investors, it is the promise of high activity.

The current period is extremely favorable to invest in Greek real estate, it is important to know how to take advantage of it. For greater security and efficiency, contact a specialized agency to support you through all the various stages, gain time and simplify all procedures.

For a first approach, you could download the free “guide to real estate buyers in Greece” from the website