Reasons why Greece is attractive to foreign investment
Foreign investment in Greece has gained significant momentum in recent years, particularly in the real estate sector. This Mediterranean country offers a strategic, fiscal, and economic environment that favors both institutional and individual investors, according to the local media outlet. amna.
Below are five key reasons that explain Greece's attractiveness as a foreign investment destination.
1. Growth potential of the real estate market
Greece is going through a sustained phase of recovery in its real estate market, driven mainly by the tourism boom.
Between January and May 2024, the country recorded a 20,6% increase in tourist arrivals compared to the same period of the previous year.
This increase has generated a growing demand for properties in popular destinations such as Athens, Mykonos, Santorini and Crete.
Despite the price increase (13,41% in 2023), housing in Greece is still around 4% cheaper than the peak reached in 2008.
This context puts the Greek market in a favorable position compared to other European economies where prices have fallen.
2. Competitive prices and high profitability
Greece continues to offer properties at affordable prices compared to other regions in Western Europe.
High-end areas such as Vouliagmeni, Kolonaki and the Cyclades have high values per square meter, while regions such as Kozani or Thessaly maintain considerably low prices.
This combination allows investors to obtain attractive rental returns, ranging from 4% to 8,5%, depending on the location and type of property.
Furthermore, the country's technological infrastructure, with 99% mobile coverage, facilitates both daily life and business operations for international investors.
3. Golden Visa Program and immigration benefits
Greece's Golden Visa program allows non-EU citizens who invest a minimum of 400.000 euros in real estate to obtain a residence permit.
From August 2024, this figure rose to 800.000 euros in high-demand areas such as Attica, Thessaloniki, Mykonos and Santorini.
In addition, there are more economical options - starting from 250.000 euros - subject to the investment being made for the purpose of renovating an industrial or commercial property, to convert it into housing; or, that it is to restore a building of historical interest.
This program offers the possibility of obtaining European citizenship after 7 years of residence, granting the investor free access to the Schengen area, combining economic return with international mobility advantages.
4. Quality of life and Mediterranean climate
The lifestyle in Greece is another key factor in its appeal. The Mediterranean climate, the natural beauty of the surroundings, and its historical and cultural heritage are complemented by a relatively low cost of living compared to other European countries.
Even with lower salary levels, the quality of life in Greece is high, making it a desirable destination for foreigners.
5. Tax incentives and opportunities in various sectors
Greece has implemented a favorable tax framework to attract foreign investment. Incentives include reduced property transfer tax and tax benefits applicable to real estate renovation and development projects.
Added to this is the diverse range of investment options, from urban properties and coastal villas to commercial real estate and sustainable developments. Sectors such as tourism, renewable energy, and maritime transport also present promising opportunities.
AIM Global helps you find investment options in Greece
Greece represents a strategic opportunity for those seeking to diversify their investments, obtain residency in Europe, and enjoy an attractive environment in terms of profitability and quality of life.
At AIM Global we have the experience and knowledge necessary to advise international investors interested in taking advantage of the opportunities offered by the Greek market.
We provide comprehensive solutions to facilitate investment processes and obtaining residency. Schedule a meeting Join our team of experts and start building your future now.
