Greece Housing: An Attractive Investment Destination
Athens among top housing investment destinations
The residential property market of Athens ranks 4th among numerous European cities in terms of how attractive it is as a destination. It was calculated based on the property purchase cost and the amount of rent, according to investment company ProfitLevel.
Foreign investors have been attracted to Greece, mainly due to the Golden Visa Program, which offers residency to non-EU investors purchasing or renting property worth over €250,000 (the investment threshold will increase to €500,00 in some areas on 1 May 2023).
The local housing demand is also very solid due to the country’s strong economic performance. After a robust 8.4% GDP growth during 2021, the Greek economy is presenting another 6% growth in 2022. Greece’s economy is expected to keep growing this year reinforcing the country’s positive momentum.
Real estate experts remark that prices in Athens are at the start of a new upward cycle. Strong investment return is expected in the aftermath of Covid-19 and recession in previous decades.
Overall, most investors believe that Greek real estate market would continually strengthen and prices and rents still have much growth in the coming years.
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