Real estate in Greece: why is it profitable to buy now?

The resort attractiveness of Greece remains unchanged despite some economic downturn that this country experienced a few years ago.


The resort attractiveness of Greece remains unchanged despite some economic downturn that this country experienced a few years ago. Buying real estate in Greece still attracts many investors who see this option as an opportunity to earn over time on the increased price of the object. Many real estate options can be found here

How to buy property in Greece?

Step I: Selection - Reservation - Verification
Start by choosing a property or several properties. After that you will need to get a tax number in order to proceed with the transaction. In order to reserve an object, it is necessary to make a deposit on a special bank account. Usually it is 1% of the value of the object. Transaction controls the state lawyer, who becomes the guarantor of its purity.

Then a legal check of the object. After a positive result, you as the buyer pay the transfer tax.

Stage II: Preliminary contract
At this stage you can already use the property, but do not own it yet. You must sign a preliminary contract (one copy in your native language, and one copy in Greek) and you will have to pay 40-60% of the price. Once this amount appears on a special bank account, you get the keys - you can move in.

Stage III: The main contract
To sign the main contract of sale you will need a notary and a lawyer. The language is Greek, but a copy can also be translated into your own language.

Once the documents are notarized, you have to register the transaction at the cadastral registry and the land archive. Now you are in full possession of the object and can immediately submit a package of documents to obtain a residence permit.

Real estate prices in Greece

An important advantage: real estate in Greece is inexpensive compared to the more hyped Mediterranean countries, especially France and Italy. Property prices by the sea in Greece are lower than similar properties in Spain or Portugal. In 2020-2021, experts note a downward trend in apartment prices, so now real estate in Greece and the residence permit is extremely affordable and profitable.

Real estate in Greece on the coast

The most popular real estate is on the coast and islands. Properties that are far away from the sea are usually not in demand, although the cost is lower. If you want to invest money profitably, you must choose real estate with a view to the resort appeal. Rental property in Greece is quite profitable.

To participate in the investment program, you can buy one or more properties for a total amount of 250 thousand euros or more. What can you buy for that amount by the sea? See the best real estate sites.