Real estate in Greece is a liquid asset. Prices to buy and rent Greek real estate have been rising steadily since 2017, according to the Central Bank of Greece. We have already told you about the dynamics of real estate prices over the past 10 years.
In 2020, Greek real estate prices rose more slowly than in 2019. The reason is the crisis amid a coronavirus pandemic. As soon as the Greek economy recovers from the crisis, real estate prices will begin to rise faster.
Rent costs in different regions of Greece
Greece is divided into 14 administrative districts. Popular tourist destinations include the Aegean and Ionian Islands, Athens, Thessaloniki, and Heraklion.
The cost of renting apartments depends on the region of the country. Prices for apartments in tourist regions of the country are higher than in the central mainland. In the table below you can see the prices of apartments in major cities in 13 counties of Greece. In the 14th District, the Autonomous Monastic State of the Holy Mountain, there are no rental offers.
The average cost to rent a three-bedroom apartment in Greece
|Region 🌍||City 🏘️||Price 💶||1. South Aegean Islands||Mykonos||€1735|
|2. Ionian Islands||Corfu||€770|
|5. Central Macedonia||Thessaloniki||€625|
|6. Eastern Macedonia and Thrace||Komotini||€535|
|7. North Aegean Islands||Mytilene||€510|
|9. Western Greece||Patras||€465|
|12. West Macedonia||Kozani||€375|
|13. Central Greece||Lamia||€360|
What an investor will get when buying real estate in Greece
The investor will receive a residence permit in Greece, a country that is part of the European Union. The conditions of the investment program are some of the most attractive in the region. The minimum investment amount is € 250,000, and the period of registration of the residence permit card takes 3 months.
To obtain a residence permit in Greece, an investor buys any property worth €250,000 in the country. It is also possible instead of buying a hotel rental for 5 years or apartments in the tourist complex for 10 years, the purchased land for construction or share in the tourist facility.
Examples of real estate under the residence permit program in Greece
Apartments with one or two bedrooms in the residential complex of Glyfada, the center of the Athenian Riviera. Values range from €265,000. Rental income up to 4% annually.
Apartments with one and two bedrooms near the sea in a new residential complex in Thessaloniki. The price starts from €158,100. You can buy two apartments in order to meet the investment condition of the residence permit program. Rental income up to 4% annually
Apartments on the shores of the Aegean Sea in a small Greek village of Maleme. The cost - from €285, 000. Rental income up to 4% annually
The resumption of tourism will help the country’s economy recover. The demand for hotels and apartments will increase, and with it, rental prices.
Greece has lifted entry restrictions for tourists from many countries, including Russians. Anyone with a certificate of vaccination or a test for coronavirus can visit the country. Certificates are accepted in Russian.
Greece has also become the most popular country for summer holidays in 2021. Most Europeans plan to spend their vacations in Athens, Thessaloniki, Mykonos, and Corfu. 18 Greek islands have already received covid-free status in March 2021. It means that all citizens of the islands have been vaccinated against coronavirus.
A residence permit in Greece allows the investor and his family to live, study and work in the country, as well as travel freely in Schengen countries.
Immigrant Invest is a licensed agent of the residence permit program in Greece by investment. If you want to move to Greece and buy real estate, seek advice from experts in investment programs.