Why should one invest into the Greek real estate market in this moment? Despite the worldwide pandemic of COVID-19 and the consequent change in the investment plans of many HNWIs and companies, the realty opportunities offered by the Hellenic Republic continue to attract the interest of foreign investors. In fact, besides the advantages over other forms of investment (e.g. stocks) the real estate market in Greece still presents the positive conditions that have been marking it as one of the top destinations for funds from all over the world. Moreover, as we collect data and analyse the performance of the EU countries in terms of containment of the pandemic, we observe that Greece is indeed one of the safest countries to live in.
Current real estate trends
In 2019 the general price level for existing real estate residential properties has increased on average, but current prices are nevertheless very competitive. Moreover, the perspectives for those who wish to invest and let their property are very positive, with extremely lucrative rental yield rates. At the same time, there is a very important indicator to consider: the cost of construction is very favourable, following a period of stagnation in the demand in the past years. Therefore, along with the advantageous prices for land plots, the real deal now is to build a new villa. This form of investment represents one of the most solid and secure solutions in 2020 for protecting your savings and yielding a high return over time.
Incentives and regulatory framework
Greece has implemented a series of incentives to revive the demand for new and recent buildings. The main measure taken is the suspension until the end of 2022 of the VAT on new building permits and for unsold properties built after January 1st, 2006. Besides, significant steps are being made in making the administration processes simpler, especially with regard to request handling and permit issue at local level.
The real deal now is to build a new villa. This form of investment represents one of the most solid and secure solutions in 2020 for protecting your savings.
Low-risk, forward-looking investments
As we all strive to gradually go back to normality, although with caution, investors and HNWIs look with increased interest to Greece. In fact we observe that the prices for real estate properties are stable in the country. At the same time the perspectives for the hospitality sector are positive, with numerous development projects in progress in the major tourism destinations in Greece. This means that investments in the Greek realty market can be considered to present a general low risk and therefore they constitute a forward-looking form of savings. The value of the property you acquire today becomes an asset for your family in the long term, with the possibility of interesting profits in the short and medium term, should you decide to rent your estate.
THÈA offers realty consulting services aimed to introduce you to the best investment opportunities that Greece has to offer. Moreover, thanks to our deep knowledge of the Greek market and tourism trends, we are in the position to manage your property and guarantee a lucrative income, which decreases over time the initial cost of the purchase. Contact us and learn about favourable real estate solutions that combine business with pleasure.