After a long period or hardship and recession brought about by the financial crisis, Greece is recovering slowly but surely. While in Europe and in the US, the real estate markets may have experienced a rise in property prices, in Greece the real estate prices still remain affordable for interested buyers.

Since the beginning of the financial crisis in 2008, house prices have dropped significantly. Combined with the recent tax reduction from 10% to 3% for property transfers, Greece is now a lucrative opportunity for investors, unlike other popular real estate investment markets where price increases in the value of property have driven most investors away.

The current low property prices and high demand gives investors higher returns. Therefore, a short-term rental of a renovated city-center apartment in Athens may provide between a 5–7% return as opposed to that of 3% in most European capitals.  Moreover, there is potential for real estate prices to increase considerably over the next two or three years.  Especially once the COVID-19 situation is resolved.

Recently, property tax has been cut by 10-30%, depending on the property value. The government has also confirmed that from 2020-22, the sale of new buildings will be exempt from VAT, which will help restart the market and the construction of more homes.

Non-EU citizens have been given access to European residency rights through the Golden Visa programme issued by various European countries. However, Greece offers the most affordable and reasonably priced option amongst the countries in the Mediterranean region. While southern EU countries require a real estate purchase of a minimum of €300,000 to €500,000, in Greece the amount is just €250,000.

In addition, the foreign investor is not required to reside in Greece to take advantage of these benefits.  He/she can live in his/her home country but enjoy the benefits of being a European citizen. While in other countries, applicants need to commit to residing in their host nation for a minimum number of days, in Greece there is no such requirement.

Therefore, holders of the Greek Golden Visa residency programme don’t need to fork out the expenses of travelling and committing to length of stay requirements in order to retain their rights. This brings us to another important reason.

The Schengen Zone consists of 26 European countries, among which Greece is a member. What that means is that as a Greek Golden Visa holder you have access to the following:

You can enjoy the same travel benefits in the same way a Greek citizen does.

 You can travel from your country directly to any Schengen country, without a travel visa, and avoid waiting and delays at customs and immigration.

You can visit any other Schengen country for a period of 90 days in every 180 day period. This is most convenient for those taking regular business trips and family vacations

Greece is advantageously located at the crossroads of Europe, Asia and Africa. With roughly 15 international airports in the country you can reach any of these continents within an hour and within 3 hours arrive at any European country in the Schengen area.  Not to mention having access to the many low-cost flights available in most European capitals.

If you are keen on history and art, Greece is the place for you. It is the birthplace of democracy and western civilization, and has made vast contributions to the foundations of mathematics, physics, and literature as well as other sciences.

While living in Greece you have the unique opportunity to explore its famous historic monuments and ancient sites. From Ancient Olympia, where the first Olympic Games were held, to The Parthenon and the Agora of Athens, where Democracy was born and visit the ancient sites at Mycenae and Crete.  Experiencing ancient Greek civilization in modern surroundings is an astounding experience.

People, who have travelled to Greece, come back for more. Whatever you are looking for on a vacation, you will be sure to find it in Greece. This explains why the country ranks among the top holiday destinations. Greece is renowned for its excellent all year-round climate.  Summer days are hot and sunny but the dry climate makes for cool and breezy evenings and clear, starry nights. What’s more, the Greek the summer lasts from early May to late October.

The Mediterranean climate of Greece offers an abundance of sunshine and relatively mild temperatures, while the short and temperate winters offer the pleasure of beautifully snow-capped mountain peaks and landscapes in the mountainous regions. It’s one of the few countries in the world where you can ski and swim on the same day without travelling for hundreds of miles.

Greece is known for its excellent health care system. The World Health Organization ranked the health system of Greece in 14th place, above countries such as Germany, the UK and Cyprus.

Even in this day and age you can stroll the streets safely late at night. What’s more, the mild outdoor climate allows for outdoor living which can go on until the early morning hours. This gives the cities a lively character and a hospitable environment.

Greeks are renowned for their hospitality. Visitors of all ages and walks of life can vouch for this. Whether you visit a cosmopolitan island like Mykonos or travel with your backpack off the beaten track you will meet hospitable locals, eager to welcome you as “an old friend” visiting their homeland and willing to treat you with a special local ‘meze’.

Hospitality is felt by the fact that a large proportion of the population speaks English which eases communication and understanding.  Other foreign languages are widely spoken too, such as French, German, Italian and Spanish not to mention Chinese, Arabic, and Russian all of which follow suit to meet the demands of foreigners. 

While living comfortably in a modern city with all the amenities and facilities, you can easily escape to the countryside and enjoy the splendour of its diverse landscape.  Crystal clear blue seas, mountainsides and hills with pine trees and olive groves are just some of the things you can enjoy in Greece.