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Thanasi97
New Member
I would like to hear anyone’s thoughts about real estate investing in Greece.
FYI I’m a broker in Greece and NY
FYI I’m a broker in Greece and NY
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Longterminvestor
Administrator
There will certainly be a time the pile back into property in Greece but is that time now? Further travel restrictions, a weak economy and underlying problems within the EU. There will be a time but perhaps not just yet?
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Thanasi97
New Member
Thanks for reply! I think the time is now. Consensus here is prices will keep going up for years.
im curious to know how foreign investors see Greece?
im curious to know how foreign investors see Greece?
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Theo_Ch
New Member
I believe that the time for property investment in Greece is now, as the prices now in Greece are up to 4 times less than other European countries, and the economy is slowly rising and improving.
Also, an initiative was given to the investors by the Greece government, where since the 1st January 2020 and until 31st December 2022, no VAT will need to be paid while purchasing a new property.
An additional advantage of the property investment in Greece now, is that you can find and purchase a house for €250,000.00 in Athens, the capital of Greece. In which other European capital you can purchase a house for that amount of money?
Also, an initiative was given to the investors by the Greece government, where since the 1st January 2020 and until 31st December 2022, no VAT will need to be paid while purchasing a new property.
An additional advantage of the property investment in Greece now, is that you can find and purchase a house for €250,000.00 in Athens, the capital of Greece. In which other European capital you can purchase a house for that amount of money?
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TimTim
New Member
I am a consulting for a property in Northern Cyprus and regularly monitor google searches for buying real estate in Mediterranean countries. According to my observations, even despite a strong decline in the first half of 2020 due to the covid crisis, Greece ranks first or second among the Mediterranean countries in terms of the number of interested investors from different countries, including the demand for properties in the Greek islands. I think now is a good time, but in my opinion it is probably worth waiting for January-February 2021 for a better understanding of global trends in the economy of the whole world and Greece in particular. Perhaps prices will drop a little more on the basis of a general slowdown in markets.
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diyhelp
Active Member
I presume Greece is extremely dependent on the tourism industry still? Until Covid is over there seems little chance of a meaningful improvement?
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realdeals
Active Member
Personally, I think Greece would do better dropping out of the European Union, which has the country over a barrel. Over the last couple of years there have been rumours of EU representatives cherry picking the best assets in the country and acquiring them for next to nothing. Has Greece really been plundered by the EU? I would be interested to hear feedback from somebody on the ground.
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Longterminvestor
Administrator
In many ways I think Greece was used as a pawn by the European Union to see how far they could push one member state in exchange for staying in the EU block. This hasn't reflected well on the European Union. As for buying Greek property, there will be a time and place further down the line but not for me at the moment.
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Hermes
New Member
I'd say now is an excellent time. Property prices are about to go up once the 10 billion regeneration project at Elliniko starts.
Also major projects taking place in Athens.
Greece has handled Covid well. Better than most, so they're ready.
I also anticipate major investment from the British in the post-Brexit era especially from retirees wishing to maintain their freedom of movement rights in the Schengen area through their Golden Visa programme. 250k euros can buy you one turnkey and 2 apartments to refurbish in Athens city centre.
I've invested.
