Foreign real estate investments in Greece are up by 61% in the first half of 2022

Most of the current property buyers in Greece are from German-speaking countries, with Germany, Austria and Switzerland at the forefront, says Handelsblatt.

According to the Bank of Greece, during the 2017—2021 period, Chinese buyers invested €1,2 billion in Greek real estate over the same period, with €973 million buyers coming from Hong Kong. European Union buyers invested €1,85 billion in Greek real estate, while the buyers outside the zone invested €3,27 billion — due to the Greece Golden Visa program.

Europeans invested €473 million in 2021 alone: a 47% increase compared to the pandemic-restricted 2022. Cyprus buyers led the way, investing €466 million in Greek real estate. German buyers invested €312 million, Switzerland buyers — €312 million, British — €176 million, and Israeli — €161 million.

The increased interest in Greece from foreign investors is unsurprising. Compared to the rest of the Mediterranean, Greek property prices are moderate. The average prices are €1,848 per 1 m 2. The overall price dynamic is slower than in the European Union, but the annual growth is a steady 1,2%.

An apartment in the prestigious Athen neighbourhood can be bought for €2 million and an apartment with a sea view — for €500,000.

As of November 18, 2022. Source: Numbeo.com

The real estate value for the money in Greece is impressive, considering the comfortable climate and the developed infrastructure. The properties are also liquid investments that can be rented out or resold for profit.

Property investors can apply for the Greek Golden Visa Program and get a residence permit for 5 years. The minimum investment is still €250,000, but it will be increased in 2023 and become €500,000.

Investors who take part in the program can invest in residential or commercial properties. Real estate can be rented out. In 5 years investors can resell it and return the investment.

Along with the investor, the following family members can participate in the program:

• spouse;

• partner, if the partnership is registered in Greece;

• children under 21;

• parents of the investor and the spouse.

All family members will be granted a 5‑year residence permit in Greece. They can live, work and study in the country, do business and optimise taxes, They can also visit the Schengen countries visa-free. In seven years, they can apply for European Union citizenship.

Examples of properties in Greece

Greece, Santorini

€450,000 — €550,000

Mediterranean style villa next to the sea in Santorini with guaranteed rent

83 m² — 94 m²

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Greece, Kissamos

€1,250,000 — €2,200,000

Traditional style villas on the seafront in Crete

132 m² — 258 m²

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Greece, Athens

€376,000 — €447,000

Hotel apartments in the historical center of Athens

47 m² — 97 m²

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Immigrant Invest is a licensed agent for government programs in the EU and the Caribbean. If you want to become a resident of Greece and buy property in the country, please consult our investment program experts.