The process of buying real estate property in Greece is quite simple. At SPACEERS™, our team of qualified professionals will assist you throughout the procedure: a lawyer, to check the property, a notary to draw up the contracts and register it officially at the Land Registry office. In addition, we will assign an architect and engineer to conduct an inspection to make sure your property is structurally sound and complies with all relevant laws and regulations.

Although Greece is back to modest growth rates, the economic impact of the Covid-19 global pandemic is expected to cause some severe economic issues as is the case in most countries worldwide. It is believed that when things look somewhat bleak, then, is often the best time to invest. And this is what wise investors are doing. The time to buy is when prices are low. Remember, don’t wait to invest, invest and wait. Plans are in place for a major regeneration of the country’s infrastructure and development projects which are expected to make property prices soar in the coming years.

Greece boasts a strong tradition of family-owned property. As the majority of Greeks own their homes, the Greek constitution, and authorities respect and protect their rights which makes Greece a safe place to invest in property. For those who can afford to, Greece is a great investment opportunity.

Greece has become a very popular destination for foreign buyers and now is the best time to purchase property in the country for the following reasons:

1. The Golden Visa: Greece grants a residence permit to non-EU citizens who buy real estate in Greece of at least €250,000. This is the most affordable programme for a residence permit in the EU. Other European countries demand higher sums and require longer stays in the country.

2. Tourism According to official information, millions of travellers visit the country all-year-round, ranking Greece as a top holiday destination.

3. Affordable prices: For the time being the cost of investment in Athens is, by far, less than in other European capital cities. However, prices are still far below their 2006 peak. The current low real estate prices and high demand contribute to higher returns for investors. The net yield on renting out an apartment in Athens is about 6% compared to 3% in most European capitals. There is also the potential for real estate prices to grow by as much as 20–30% over the next 2–3 years as a result of positive infrastructure developments and changes in the economy.

4. Greece’s real estate market presents the best numbers. The Central Bank data showed a dramatic increase in Greece’s housing market. The country’s recovering economy and growing foreign interest are the contributing factors.

5. Annual property taxes reduced. One of the reasons foreign buyers were hesitant to invest was VAT, (value-added tax). To overcome this obstacle, the current Greek government announced a tax reform which guarantees that for the next three years, there will be no VAT collection on property investments. There are also plans for tax deductions for renovation and property construction in that time.

6. Safety- Buying a house in Greece seems to be on the top of many people’s ‘wish list’. Even in the midst of the covid-19 pandemic. While the whole world is in chaos, statistics show that Greece has fared far better than most countries.

7. Mild climate and hospitable people. For these reasons alone, many people want to enjoy their retirement in Greece.

According to current Greek laws, foreigners can buy properties in most areas in Greece.

However, non-EU residents must demonstrate their connections with the country and their intent for property use. Those who wish to buy in borderland areas such as: the Dodecanese islands, regions of Northern Greece, Crete, and Rhodes, need to apply to the authorities, at the Ministry of National Defence and that involves submitting a number of documents.

EU residents have almost no restrictions in purchasing a property in Greece.

Greece offers an easy lifestyle, a country that is steeped in history and legacy. Following the harsh economic years, there have been some positive changes and developments in all aspects including art, culture and travel providing a much more rounded experience and making it one of the most promising places to visit in Europe right now.

Here are some concrete examples:

Greece’s easy-going lifestyle, stunning beaches, and picturesque villages attract people worldwide to buy a vacation property. The sea and the southern coastline of Attica, its Blue-Flag beaches which are easily reachable, make life just as easy as is the case with the numerous islands in the Aegean and Ionian seas