Tourism is one of the leading industries in Greece: revenues from it account for about 20% of the country’s GDP. Statistics on the state of the tourism sector are regularly published by the Bank of Greece.
Let’s find out why tourists are coming to Greece in 2021 and how investors can benefit from the country’s tourism growth.
Which countries citizens most often choose Greece for their holidays in 2021
A total of 4.55 million international tourists visited Greece between January and July 2021. The result is also significantly higher than in 2020, with a year-on-year increase of 51.4%.
have holidayed in Greece from January to July 2021
Among EU citizens, Germany and France are the most frequent visitors to Greece. In the seven months of 2021, the number of tourists from these countries increased by 156.3% and 343.6% respectively when compared to the same period in 2020.
Non-EU citizens have also become more frequent holidaymakers in Greece. The top 3 holidaymakers include citizens of the UK, the US, and Russia.
Number of tourists in Greece from January to July 2021
Why tourists from different countries are choosing Greece for a holiday during the pandemic
Balos Lagoon on Crete - the confluence of three Greek seas
The Acropolis of Athens is the most famous landmark in the Greek capital. It was built in the 5th century BC and is open to visitors today. Single ticket for an adult - 20 €
The island of Zakynthos has created a sanctuary for the rare Loggerhead turtle species. Tourists can see the turtles by diving with an instructor
Why the high demand for holidays in Greece is beneficial for investors
Rising property prices. Greece’s economy is heavily dependent on tourism. The faster the influx of tourists into the country recovers, the faster the economy grows. And with it, so do property prices.
Rental yields are as high as 4% per annum. Most of the year, the properties are rented out to tourists: the beach season in Greece lasts from May to October, when the water temperature in the searnis around +20 °C.
Rental yields in Greece
Rental prices vary from region to region. For example, a three-bedroom apartment in Athens will cost on average €715 per month, in Mykonos €1,735 per month, and in Lamia only €360 per month.
Residence permit in Greece by investment in real estate
Investors who buy property in Greece can obtain a temporary residence permit in the country. A residence permit allows you to enter the country at any time, regardless of coronavirus restrictions. Holders of residence permit cards have the right to live, work, conduct business, and study in Greece.
The residence permit card also replaces a Schengen visa for Russians: with a Greek residence permit, they are allowed to travel freely to Schengen.
In order to obtain a residence permit in Greece, you must invest at least €250,000 in real estate. You are allowed to buy residential property and building plots. Another option is to rent a hotel property or an apartment in a tourist complex.
minimum amount of investment in real estate in Greece
Apartments for purchase under the residence permit program in Greece by investment
Apartments in a new apartment complex with swimming pool in Halandri.
Apartments are priced from €255,000
Student apartments in Piraeus with a guaranteed return of 5% per annum.
The cost of the apartments is from €83,500
Apartments in a beachfront complex on the island of Crete.
Apartments are priced from €285,000