Greece is again attracting attention to it's dire finances, but behind the headlines, some things are looking surprisingly positive. Unexpectedly and surprisingly, property prices are benefiting from buying interest from Turks and Russians. Despite the economic crisis of the preceding decade, property prices have been slow to decline, as sellers hang on in the hope of better times ahead.
During 2016 prices finally began to ease more perceptibly, as coincidentally, buying interest began increasing from two important foreign sources. Having inundated Malta, Russians are now braving the complexities of Greek bureaucracy, no doubt considering it is a price worth paying for relative security, having been badly bruised during the bank bailout in Cyprus, and by the sudden shift towards anti-Russian sentiment during the jet-downing incident in Turkey during 2017. Turkish buyers are having a noticeable impact in segments of the Greek market, as they seek a home to shelter capital, and lifestyle, nearby. Both nationalities are buying in very specific market segments and localities.
If you have ever considered buying in Greece, now is the time to shift your level of attention up a gear or two – if buyers from elsewhere begin to follow in any size, for example from Germany, the US or China, Greece may surprisingly become one of the best markets to be invested in, selectively, during the next five years... Despite the bureaucracy, and relatively expensive valuations, it is worth remembering the key attraction of Greece, as anyone that has lived and traveled internationally can attest to, for a multitude of reasons - real estate on the islands is truly unique – and simply… sublimely… idyllic.
Brexit questions have many in the UK concerned about their retirement plans for resettling in the sunnier regions of the EU.
Legislation in Greece provides holders of a Golden Visa to the same travel privileges as a Greek citizen in the Schengen Area. Low-cost flights are available through-out Greece on both EasyJet and RyanAir.
The Golden Visa program provides five-year residency, automatically renewable, for an individual investing a minimum of EUR 250,000 in property. This is a lower investment threshold than Spain, Portugal, or Cyprus.
Family members may be included in the eligibility for the 5- year residence permit. Public education remains available for free in Greece including university level, and at a high standard. Public health services are also maintained at a high standard, ranked 14th of its 191 members by the World Health Organization, significantly ahead of Germany, UK and Cyprus. Walk the streets safely anytime of day or night anywhere in Greece - the ideal climate provides for an extended and active 24 hour day out of doors in the warm balmy evenings.
The Golden Visa investment may be made either personally or through a legal entity whose shares are wholly owned by him/her, and includes time-sharing contracts and leases, hotel accommodations, and other tourism furnished accommodations purchased for minimum contract duration of ten years.
Careful financial planning has made it possible to ensure this amount includes all residency permit applications, legal fees- everything necessary to achieve the win goals of obtaining EU Residency AND the purchase of a property in the Greek islands.
Greek holiday home prices- on the move again after ten years…!
Sep. 13 2018The upward movement is attributed to foreign buyers of luxury villas and unique locations… as we forecasted 10 months ago. ... Key factors: steady growth of tourism combined with a more stable financial environment
Plenty to choose from: price increases still minimal due to overhanging supply of unsold villas – estimated at 30,000-40,000.
The market is being led by perennial favourite Mykonos, where prices are averaging 2,150 euros per square meter, Santorini Eur 1,775 m2, and Paros Eur 1,770 m2. Beachfront homes available in the Cyclades for as little as Eur 150,000. Or Crete, where a three-room house with a pool by the sea will cost EUR 200,000.
As ever, investors must endure the tedious bureaucratic hurdles, the Ottoman inheritance, which even Turkey has long since discarded. Thankfully the experts in our partner network are ready and happy to help navigate this for you…! To receive more information, please use the Chat Box below right, or leave a message, or click here….…